In my earlier post about the trust of the 4th industrial revolution we discussed the key principle that the revolution is driven by human behaviors and expectations, enabled by technology.
Another critical element is speed. The pace of change in this industrial revolution is never seen. Take an example of the recent phenomenon of “Pokemon Go”. The augmented reality game, chasing pokemon across cities. The adoption of this game went through the roof worldwide in a matter of few days, few weeks. But what is even more relevant here is the speed how innovative students and others have build a surrounding business ecosystem. Multiple cities arround the globe have seen innovative birth of new business/offering, just a few days after the official launch of the game. Bicyle Taxi have build an offer to drive players across the city, chasing Pokemon, and at same time offering phone plug-in to charge the device. Incredible speed, connecting new product with a new offering.
Some people will naturally say this is not credible, not big business, nothing which will impact the economy. Or this game is just for nerds etc. This is not the point.
Observe only the speed how things are changing. How decisions are being made. How new businesses are being born without large business plan or business model. Just by having an idea, testing it real time and bringing very fast to market.
This is the key lessons for any leader, any large company. If you need weeks, months or even years to make decisions. How can you expect to be disruptive? Run fast, fail fast, learn fast.
Agility and Speed of change is a critical element for success in this 4th industrial revolution
If you have a very large organization which can’t operate that fast, then search new approach. Implement departments which are able to run and perform fast and ensure these insights can flow into the company. Very much like a pilot ship, guiding a large cruise ship leaving the harbor.
What is your speed of change? Do you take weeks or days to make decisions?
Read also about the other key elements of a disruptive company in the MINT and CASH Framework which you can find here.