Introduction
All organizations are facing an unprecedented challenge to be able to deliver new products in what could be a totally different market situation. Business Agility can be one way forward in this uncertain lifetime.
#businessagility #corona #productdevelopent #innovation #manageuncertainty
What is going on?
For years I have been thinking; "Sometime, a pandemic will spread over the world. Maybe not in my lifetime, but sometime it will come. Because it's how nature works."
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Anyhow, our world will be different. No one knows to what extent, but for sure, it will be different. And whatever happens, the uncertainty is higher than ever before. The question is, what will make the growth wheels spin again?
How are organizations doing?
As you know, the case is not that uncertainty was low before Corona. We already had a situation of ever-changing technology and needs, which required fast, adaptable, and creative development.
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Competition is ruthless, and most companies do not survive as long as expected. Several studies show that the age of companies is decreasing. For leading US companies, the average lifespan is now down to just 15 years, according to Professor Richard Foster from Yale University. I very much doubt that this trend will change.
What to do?
So, how to become healthy and sustained as a company? Hopefully, also, taking care of people and the planet.
Many appreciated workplaces are appreciated by their employees and known for creating new innovative products. They experiment, measure business results, figure out why they exist, and much more you can read in best sellers. Did you know there are about 100 new books on Innovation published each month? It looks as there is a way forward.
A popular term is Business Agility, which means that an organization as a whole can adapt according to market and customer needs. It requires considerable work to rebuild an organization for Business Agility, and I can see many leaders who are struggling to succeed. In most cases, a big challenge is to clarify who develops the capability of an organization, versus who creates the products. Typically, Product Managers need to have the authority and attention on products and react swiftly on market feedback and do not have the time to work as a line manager at the same time.
How to rebuild organizations?
If you are a builder of a fantastic organization that will be able to take the edge of the uncertainties served by Corona, I think the following bullet items are the most crucial. They were all very viable before, but have become more critical as uncertainty grows.
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The problem is not whether your organization will be able to develop and deliver a solution. From a technical perspective, solutions are easier more straightforward to deliver produce than ever before. Today technology is cheaper and more available. The challenge is to figure out which solution will become applicable in, maybe, a market we have not seen before. This To manage Market Innovation is the main primary capability organizations will need.
Me I, too, would like to have a world without Corona and without all uncertainties. But the reality is pressing on, and I don't think Business Agility is an option anymore; it is a must.
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