Traditional approaches to corporate strategy are failing. This is exacerbated by the incessant acceleration in the pace of business change. Now the digital tsunami is reshaping every industry. Long-standing assumptions about how people and organisations make economic decisions turn out to be fundamentally flawed. People make irrational decisions all the time, but in very predictable ways! The trick is to know how to figure out the rapidly-changing rules governing human behaviour. Adding to the uncertainty, long-term sustainable competitive advantage is replaced by a new era of transient advantage, where enterprises need to constantly be reinventing themselves: modernising and evolving their business models, management models, and products and services.
Constant innovation and rapid speed-to-market are the new black. At ThoughtWorks Live Australia 2016, Keith Dodds talked about navigating in deep and turbulent waters where the old maps are no longer reliable. Success will only go to the enterprises that are truly organisationally agile and highly adaptive.