In the past 10 years we have seen an unprecedented acceleration of the rate of change. In his book, Thank You For Being Late, Thomas Friedman chronicles the breadth and pace of disruption in today’s world, identifying 2007 as an inflection point in our transformation — also noting that inflection points are spotted only in retrospect.
In or about 2007, an extraordinary number of new developments began transforming the world we once knew:
- The number of internet users crossed the one billion mark
- Apple introduced the iPhone
- Google bought YouTube and launched Android
- AT&T led the other telecoms in a huge expansion of transmission capacity to handle a data deluge
- Amazon launched the Kindle
- Airbnb was born
- Intel introduced non-silicon materials
- Bitcoin was created
Similarly, when speaking at an investor’s conference in 2020, Peter Diamandis, Founder of XPRIZE Foundation, suggested that the pace of change had shifted from linear to exponential!
This acceleration of change and the associated disruption has important implications for business — specifically for the organizational traits and capabilities that determine who will thrive, survive, or fail. The capabilities, knowledge and expertise that got us where we are today are not likely to get us where we need to be tomorrow.
For example, economies of scale once conferred substantial efficiencies that smaller enterprises had to work hard to overcome. While organizational size still enables efficiencies, it also can slow and distort the information flow from customers and markets to the strategic decision makers.
The size of the organization may also increase the difficulty in turning the ship to take advantage of new opportunities and avoid the iceberg ahead.
Simply stated, the speed of change in the market, competition, and technological capabilities has increased desire for greater agility.
Agility has long been a valued practice in software development and project management; but what is organizational agility and how can we get some?
We’ll address this and other questions in our next post.