Today we are faced with a world where traditional business principles no longer apply – technology spurred by the connectivity of the internet has changed things. Doing business and understanding how to make money in a digitally effected environment is different – it’s time to forget how you have done things and understand how to do things in the new NOW.
The change in the level of business thinking is significant – it is no longer about applying the traditional business model thinking that has served so well in the transformation period through the 20th and beginnings of the 21st century where significant growth was experienced and many countries prospered. We, as a society are just entering into a paradigm shift that will fundamentally change the way we go about things – across all branches of society – cutting across commerce, politics and social structures. However, it is clear that the new benchmarks of performance need to be driven from business for governments to follow. Businesses that make the shift will prosper while those that choose to seek sanctuary in remaining in the status-quo will begin to lose momentum. The decline once commences, could be sudden, it will depend upon the next decision – the business equation is changing.
So what do you need to forget?
- Sustainability is built for the long-term.
- Bad knowledge decisions will not be fatal.
- Traditional business and product life-cycles.
- Innovation needs special treatment for success.
- Annual business planning meetings.
So what do you need to remember?
- Sustainability is only in the NOW.
- Decisions based on good knowledge will keep you in the game.
- Business and product life-cycles cannot be assumed.
- Business has moved to ‘beyond innovation’ phase.
- Planning needs to be embedded in the NOW.
One thing is for sure; to be successful in the digital paradigm shift you need to make the decision to be in the new game – the environment will not carry passengers.