According to a recent Wall Street Journal article, the so-called CIVETS group of countries—Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa—are being touted as the next generation of “tiger economies.” But why?

1. These nations all have large, young populations with an average age of 27. This means these countries will benefit from fast-rising domestic consumption.
2. They also are all fast-growing, relatively diverse economies, meaning they shouldn’t be as heavily dependent on external demand as the BRICs.
3. HSBC Global Asset Management points to rising levels of foreign direct investment across the grouping, low levels of public debt—except for Turkey—and sovereign credit ratings moving toward investment grade.

However, critics say CIVETS countries have nothing in common beyond their youthful populations. They also say, liquidity and corporate governance are patchy and political risk remains a factor.

So let’s break it down by country and see what is happening:

Colombia: Colombia is emerging as an attractive destination for investors.

Indonesia: Indonesia weathered the global financial crisis better than most.

Vietnam: Vietnam has been one of the fastest-growing economies in the world for the past 20 years.

Egypt: Revolution may have put the brakes on the Egyptian economy but analysts expect it to regain its growth trajectory when political stability returns.

Turkey: Turkey has major natural-gas pipeline projects that make it an important energy corridor between Europe and Central Asia.

South Africa: Rising commodity prices, renewed demand in its automotive and chemical industries and spending on the World Cup have helped South Africa resume growth. Many see the nation as a gateway to investment into the rest of Africa.

(I just wish CIVETS rolled off the tongue as easily as BRIC.)

Here are some highlights from the interview (click here for the entire article):

When do you foresee the recession ending?

I don’t, because I don’t consider it a recession. I think that this is a fundamental transformation, and it [has been] coming for a long time. It started before the financial crisis, and the financial crisis exacerbated the speed with which everybody felt the transformation.

There has been an evolution of economies. We’ve been through the agricultural era, the industrial era, the post-industrial era, the emotile era, and what we’re moving into is what we call the metaspace era. And none of these go away. Each succeeding [era] is built on the one that came before. But what you used to make money on becomes commoditized because technology allows it to become so inexpensive that you just can’t get the same margins you used to on it, so you have to move up to the next value proposition.

The thing to understand is that we were in the agricultural era for tens of thousands of years, the industrial for 200, the post-industrial for 45, and the emotile for about 20 to 25, and we’re still there, but we’re moving into what we call the metaspace. So the real story is the collapsing of the time that it takes for technologies to come together and create enormous efficiencies in the way we do things. The problem is that we can’t grow new businesses fast enough to satisfy the labor that’s been displaced by the efficiencies, and that’s why we feel so much pain, and that’s why we’re not going to see those jobs come back.

What do you think boards should be concerned about, looking a few years into the future?

I think they need to be concerned about a couple of things. Number one, are the products and/or services that they’re offering or that they count on going to be around in the next three to five years, or will they be disinter-mediated by new players with completely new business practices, technologies, and delivery [methods]? There’s such a rapid replacement effect taking place now. So you have to wonder whether what you’re doing now will still command the dollars that you’re projecting for the next couple of years.

That’s an extremely important concern. That’s the core of your business. And that’s a real worry that I would have if I were a director. I would really want to know what game changers are out there that could completely disrupt the services and products that we’re currently offering, and I wouldn’t necessarily trust that I could get all that information inside the company. I would want to know from experts who are looking outside what is going on that could change the world of this company the way it exists.

And I would also be concerned about whether I’m doing the right things in order to get the best talent because in the end, whatever it is that [you] do, it’s about your people delivering to the marketplace.

Speaking of talent, do you foresee a time in the future when American public boards will be more diverse?

There’s no question about it. That’s already happening, and will continue to happen. However, it’s interesting when we think about what diversity means. If you declare diversity as being people who look different, speak different languages, or come from different parts of the world, if that’s your idea of diversity, then that is not stepping up to the business case for diversity. That’s the public relations case for diversity.

The business case for diversity is to have different ways of thinking on the board, different viewpoints. And that’s not an easy thing because much of what the board is about is having a comfort level with each other. I’m not concerned about diversity that you can see from the outside. Where I’m concerned is will the board step up to the need for diversity from the inside, and how comfortable will [directors] be with those voices that don’t track with what the CEO wants to hear or what the majority of the board wants to hear?

It really depends on the kind of company you are, but if you’re saying that you want to be a global company and you’re saying that one of the concerns is that you’re really not sure where your competition is going to come from in three years, why would you want people on your board who know the last 20 years and not the next 10?

In the context of today’s rapid technological and economic change, both job seekers and employers alike are faced with a daunting set of challenges. While many individuals and organizations see an economy in and headed for another recession, the recent economic downturn, in fact, represents a fundamental transformation and restructuring of the economy.

The Career Advisory Board, presented by DeVry University released a new Job Preparedness Indicator Report that brought to light how this period of transition is not only impacting employment and unemployment, but it is also affecting future professional competencies and skill sets.

To many employers, the serious gaps that exist between educational credentials and actual individual competence are becoming all too clear. What many job seekers are now faced with is a “catch-22”: Hiring managers stress the importance of needing prior work experience, but job seekers struggle to find actual opportunities to gain that critical real-world knowledge.

According to the report, 66% of employers agree that job seekers often find themselves applying for jobs that require skills and experience that can only be acquired after being hired. Job seekers are aware, too, of many prospective employers’ reluctance to hire someone without experience – in fact, 78% of job-seekers agree that too many positions in today’s job market require skills that can only be acquired after being hired.

So when it comes to valued workplace skills and competencies, what can job seekers do to get their skills more in line with what hiring managers are looking for and gain that all-important on-the-job experience?

1) Seek New Ways to Gain Real-World Experience. Paid or un-paid internships, apprenticeships, traineeships and volunteering – are great ways to learn valuable analytical and critical-thinking skills and boost business acumen.  These experiences allow employers to see how proactive a candidate is. It will be crucial for job seekers to clearly demonstrate how these skills can be transferred to the workplace.

2) Behold the Power of Staying Connected. Secondly, job seekers should leverage and tap into peer-to-peer and alumni networks, as these are becoming increasingly valuable tools and resources.  It’s important to build a strong network and equally as important to maintain it. While social media tools such as LinkedIn provide an opportunity to do so, taking the relationship offline is vital – make a brief phone call or meet for a cup of coffee. By fostering strong relationships ahead of time, you will have the confidence to reach out in the future to take your career to the next level.

3) Seek a Mentor and Be a Mentor. Having a mentor can help job seekers gain critical workplace knowledge that will support career growth. But on the flip side, for young job seekers, being a reverse mentor is also important as it teaches communication skills and demonstrates a depth of knowledge in a particular area(s).

Clearly, for job seekers, the competition for many jobs is intense.  A reexamination of the current workforce will be critical, especially as job seekers increasingly face a greatly perplexing world of differences in hiring styles and processes.

Here are the links to my most recent blogs:

Women in Charge: The Emerging Global “She-conomy”
Crowd-Sourced Fashion: New Social Shopping Apps

Stay tuned for more on everything from women in STEM to nanotech clothing.

On Saturday, July 9th, Jared and I (Erica) will be presenting on “Cultural Shifts Among Global Youths: Part II” — last year we highlighted everything from the growing importance of social networking sites and virtual reality to shifting communications styles and feedback mechanisms to important demographic trends such as skewed sex ratios, an aging population and changing household formation.  This year, we’ll be leading another robust discussion on an entirely new set of trends that are currently impacting the future of our youth.  We’ll be shedding light on the social, demographic and technological shifts occurring in both today’s global youth and future generations.

Also on Saturday, Arnold and Edie will be presenting on “The Six Hottest Technologies Shaping the Future: And What They Will Do For You and Your Organization.”  They will talk through the six greatest technological developments that will lead the way to an even newer world, and how they will affect your life, both personally and professionally.  What are the implications of these disruptive transforming technologies, and how will they shape the future?

While I shared some of my thoughts for this article, here are some others as it pertains to “the new internship:”

(1) Outternships: The growing prevalence of “virtual” workers, or employees who telecommute and/or enjoy the benefits of VirFlex (virtual geographies, flexible times) working arrangements, may change our while thinking around the word “intern.”  With continued improvements in networking technology, personal mobile technology and virtual meeting tools, we may see more companies offering up “outternship” opportunities for people who want to get experience working remotely. Technological advancements (i.e. telepresence) also give workers off-site flexibility by still being connected and engaged.

(2) Longternships: An internship that guarantees eventual permanent, paid employment with the company in which they interned. Their value to the company may be increased by the fact that they need little to no training.

We may also see more opportunities for older workers; i.e. in South Korea, silver job fairs, established to find jobs for people 60 and older, have mushroomed across the country in the past year. Longer life spans and changes in family structure have left many people, entering the later stages of their lives, unprepared for reentry into the workforce.  Programs that encourage training and retraining for older workers will have tremendous value and utility.

What are your thoughts on the future of internships?

Smell-o-Vision was definitely one of the more gimmicky technologies of the 1960s. Early attempts to realistically pump scents into movie theaters were as technologically sophisticated as a “Scratch and Sniff” card.

Since then, companies have tried to replicate the “science.” In the late ’90s, for instance, a company called Digiscents attempted to create a device called the iSmell that could be used to experience scents as you were surfing the Internet. Instead of being revolutionary, it earned the distinct honor of being named one of the 25 worst tech product names ever. (Seriously? iSmell?)

But two new companies, Scent Science and Sensory Acumen, are putting a more sophisticated — and much cooler — 21st century twist on this previously ridiculous technology. Using atomizers and a computer or game console connection, these devices spray scents into the air that correspond directly with the games you’re playing or the movies you’re watching. Talk about reality TV.

The ScentScape lets users customize their own “scent information” to release certain smells related to the action in video games. In the future, gaming companies could sell racing simulation games with the scent of rubber and gasoline, golf games wafting of freshly-cut grass, or boxing games that smell like sweat (although I don’t know who would buy that). And if gamers can create their own, personalized scented games, players could share them with other gamers as a way to enhance and share the experience.

Shift from owning to renting has been a common topic in the news.  In fact, Rachel Botsman’s book  ”What’s Mine is Yours: The Rise of Collaborative Consumption” presents a compelling case for 21^st century sharing.  Check out her video from the recent TED conference:

To some, this may look like the purse-tightening aftershocks of the economic recession – for financial reasons, renting something often makes more sense than buying it.  But what we are seeing emerge is a more fluid approach towards ownership, and a dramatic shift in consumption habits.  In fact, purchasing products altogether – regardless of price and/or size – is losing some of its allure.

But it’s not just about changing our consumption habits; it’s also about a widespread value shift. A shift from valuing possessions to valuing usage.  A shift from valuing ownership to valuing access. There is also the social aspect.  By sharing our things, we are exhibiting a sense of sociability. In an era when families are scattered around the country and people may not know the people down the street, sharing things – even with online strangers – allows people to make meaningful connections.

As is the case with collaborative consumption, we here at WEB like giving new concepts new names…and therefore creating our own vocabulary.  In the interest of this revamped concept, we are referring to it as “self-secondary markets” because of how the end-consumer is shifting — in fact, the consumer itself, rather than then company or brand, is the one creating the secondary market.

There is tremendous activity in this space right now.  Here are a few examples:

• RelayRides helps car owners rent their vehicles to other people.  It’s similar to Zipcar, but without the fleet;
• The Ritz Carlton’s Loan-A-Lab program provides guests a yellow Labrador to “borrow” for hiking and other types of excursions;
• Peer-to-peer money-lending through Zopa.com allows people to completely sidestep the banks.  The default rate is also less than 1%.

The growth of self-secondary markets represents a new and potentially highly lucrative value-add for companies and organizations looking to expand and redefine traditional ways of conducting business.  In a time of collaborative consumption and growing competition, access to the consumers may well be the most valuable asset to a business.

But there is another significant part to the equation, and that is the alienation of the young people – primarily the young males – from the economic and political life of the country.

As we’ve seen for a while now, sex ratios are becoming skewed in much of the world thanks in part to a growing global imbalance of male-to-female ratios.  It is estimated that by 2020 there will be approximately 300 million more men than women in the world.  We’ve seen this demographic trend play out in China.  In Vietnam.  In South Korea.  A surplus of frustrated, low-status males is bound to spell trouble for society.  Some experts have argued that China might soon be bedeviled by an underclass group of malcontented single males who could stir up political instability or even armed revolts.  Sound familiar? It isn’t much different from what we currently see happening in Egypt.

In Egypt, the unemployment among young males (aged 15 to 29 years) was 32% in 2009.  In other words, one in three young men were out of a job….and, because of increased education, many more were affected by underemployment. Clearly, growing unemployment has led to insecurity over their future, which to many, seems bleak.  But when you take a generation of young males who have no future, and have no outlet for their aggression (and testosterone), a range of potentially dangerous problems could occur.

Another primary reason for disillusionment among the youth is the perceived weakness of the state’s developmental role.  Because they have no way to vent their discontent to the “ruling elite,” they become more alienated.  And if the youth do not feel like services are extended to them – whether it’s a quality education or opportunity for employment – their connection and allegiance to the state and the regime will falter considerably.  Add to this the fact that many of the youth fear that the only means for social mobility is through criminal or corrupt means, i.e. bribery, nepotism or by bypassing the law entirely.

So the question then becomes this:  What do we do with the young males?  As we’re seeing now, testosterone-fueled aggressiveness can disrupt or even tear apart societies that don’t find ways to channel those drives into activities that aren’t destructive to the communities.  In a worst case scenario, it may be that countries afflicted by the imbalance could to go to war as a means of sending young men’s aggressiveness to where it can do no harm internally.

As we look at what is happening in Egypt politically, socially and economically, a combination of frustration with the existing system, a yearning for democracy, a desire to participate in decision-making and general dissatisfaction have all come together  to create the current situation on the streets.  An important lesson here, too, is the realization that if the interests of the young – especially the young males – are not taken care of, political stability in any country can be threatened.  So this may be just the beginning.

You’ve heard the saying that when one person yawns, everyone starts yawning. And perhaps you’ve heard of the study showing that better goal celebrations create better chances of winning. One person’s behavior can affect the whole group. That’s not just the “chemistry” term you hear thrown around on sports radio. That’s science.

Word of mouth has been shifting to “word of keyboard” for a while. Studies have shown that weight gain, drug and alcohol use, even loneliness and depression are powerfully contagious via online networks. That’s been known for some time, but what’s being shown now is how a behavior can be spread not only to the recipient of an e-mail, text or social network sharing function, but to anyone who reads about a behavior. So when an athlete rips someone on Twitter, it’s just as powerful as if he rips that person to his face. In fact, it might even be more damaging, as outsiders will catch the blame contagion and start thinking negatively about that player or the entire team. Then fans will react by ranting on their own Twitter accounts, which are sometimes read (and internalized) by athletes themselves.

Well, it turns out, this phenomenon has been gathering steam for a while.  And because of the ubiquitous nature of social networking sites and personalized mobile technology, the reality is that social contagion will only increase.