<Market segments will change> <dobs to be done>
Eventually, we will come out of these crises. It is going to hurt and some will grief their close ones. But in some way, we will come out. Our world will be different. we do not know to what extent, but it will be different.
Some say it will be over after the summer, others think it will take longer and that a worldwide recession will hit us. Whatever happens to our economies, lifestyles or needs the uncertainty is high. We simply do not know what the world will look like and what will make the growth wheels spin again.
While many of us are occupied in the current situation, trying to live out lives and also save lives, some of us need to start planning for the future. Company leaders cannot wait to point out the way forward. Just forget to do well-defined plans and product designs. When dealing with this massive uncertainty, building up new knowledge, and adjust is going to be your way forward.
We will need much more of, what many companies already are doing. Experimentation and measuring of business results. Don't worry, plenty of companies have been doing it for a while and many tools and techniques are available.
I'm sure leaders, all over the world, are struggling with their portfolios. What could possibly attract customers? Which new market behaviors will we see? How long will the downturn last? What margins are feasible? What will make my company survive?
The time is over when the best way to organize was in functional silos with local responsibility and performance metrics. Whether you are promoting silos or not, your business is operating in valve streams. That is all strategic steps needed from start until some kind of client or user value appears.
It is your choice if you want to build your organization around these value streams or stay in the functional responsibility paradigm. But, take the time to think about your choice now and prepare for the worst.
I and many other consultants have been nagging about a better way of working for some time. We have been speaking about "product ownership. So far little has happened. Most organizations are still preparing large projects with predefined solutions years ahead of delivery.
Time is over it will not work!
My prediction is that the need for Business agility will even higher after the corona pandemic.
Business agility means an organization that as a whole have the ability to adapt according to market and customer needs. CEOs and other top managers cannot continue to delegate work <responsibility for organizational design and change managment> to middle management and functional silo managers.
They must build a flow-based and modularized organization that can act swiftly on market reactions. The time is over when Agile and Lean have been thought of just as an IT-team endeavor. Without upper management engagement, we have observed that for most "traditional" organizations it is a very long Journey
Those who are willing to act now will be rewarded pretty soon because we, because of the pandemic, will see a lot of market changes.
Some say the world economy will go back 50 years. Of course, we will still have technology, knowledge, and an environment we did not have them, so development will take other routes.
Some things to remember will be even clearer
Sunk cost. Just because a lot of work and resources have been put into something, it does not mean it is Valuable.
Value streams. If you have not identified your real value streams and paid them the proper attention it is now time. Your current organization is probably not fit to take on the new challenges.
Transformational, servant, or whatever we call leadership that let people thrive. You will need an organization that can innovate and gets the right products out on the market. You need to be open, humble, and rewarding as you point out the visionary direction of your enterprise.
Experimentation is key. There is plenty of knowledge on how to perform Business Experiments. Make sure to clarify business ownership.
Backlog, backlog, and backlog. A great Product Backlog is transparent, contains what we would like to have, and is prioritized based on business value. Most organizations do not have the needed knowledge to create great backlogs. They mix projects, activities, and phrases just as before. Top management needs to understand and show the rest of the organization what a great ball log is. Otherwise, it will not happen. I'm sure I have seen it far too offers.
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It will not happen by itself you need to be intentional.
Metrics Revenue and profit growth
It is not whether you will be able to develop and deliver a solution. From a technical perspective, it is easier than ever. Today technology is cheaper and more available. The challenge is to figure out which solution will appeal to consumers.
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