How to Survive in Times of Radical Innovation By Peter Hinssen
Do you feel that the world around you is changing faster than ever before, and the rate of change is actually accelerating? Do you believe that the number of ‘unknown unknowns’ is increasing? You’re not wrong. The pace of change is exponential, and large organizations struggle to spot new and radical ideas quickly, unable to move fast enough to develop their potential. In the 20th century size was power. Today, in the Age of Urgency, being ‘big’ seems to be a disadvantage. Success means focusing not just on tomorrow, but on what the day after tomorrow will bring.
We have arrived at a moment when a cocktail of new technologies is advancing the speed of change. It’s a ‘Wright brothers moment’, when key innovations can trigger a cascade of changes that transforms the world. These technologies are the engines of our future. Cloud computing is the ‘New Normal’, where the smallest startup has access to computing power at a scale that was previously only available to giant corporations or superpowers. Data is the ‘New Oil’, and Artificial Intelligence will become so prevalent that it truly becomes the ‘New Electricity’. The Internet of Things, machine learning, and digital manufacturing are rapidly ushering in the Fourth Industrial Revolution. New network-based logic, like blockchain, will have an impact far beyond cryptocurrency, creating a more secure, robust and decentralized ‘Internet of Trust’. Augmented and Virtual Reality are changing the way we interact, bringing ‘experience’ to an entirely new level. And if quantum computing lives up to its promise, the leap in processing power will drive breakthroughs that we can’t even begin to imagine.
How do we accelerate our day after tomorrow thinking to survive and thrive in times of radical innovation?
In a Volatile, Uncertain, Complex and Ambiguous world, when new ideas, technologies, and business models can suddenly change everything, concentrating on the ‘Day After Tomorrow’ isn’t a luxury, but a necessity. It’s vital to embrace the exponential future of business, understanding that agility may be your company’s single biggest asset. The time for risk-taking and long-term radical thinking is now, when you have the time and the money to shift gears. Focusing on the Day After Tomorrow is your best recipe for survival, helping you to remain essential and relevant for your customers. Redesign your company in terms of culture, not structure. Find leaders who don’t want to lead, and employees who do. Hire thinkers, doers, makers, and rule-breakers, then trust them. Avoiding risk isn’t ‘safe’, it stops you from evolving. Embrace chaos, fight the status quo, and remember that the impossible is just a possibility waiting to be born. This is the age of urgency and innovation, fueled by technology. You have to be prepared. You have to reinvent yourself. There are so many tools, ideas, platforms, and people just waiting to be connected. If you are willing to learn, un-learn, and take radical new directions, you’ll find your Day After Tomorrow.
What are you doing to innovate and thrive in the Day After Tomorrow?
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in partnership with nexxworks
Peter Hinssen – Entrepreneur, Author and Lecturer at MIT and London Business School, Partner at nexxworks
