The fourth industrial revolution is now upon us as demonstrated by the disruption of entire industries. In the upcoming years, we will not only continue to see new entrants in traditional fields, but we may also see long-established corporations threatened with a speed that has no historical precedent. In today’s environment, the physical, digital, and biological spheres are integrating into unprecedented ways, impacting customer interactions, design, production, supply, usage, where the value is created, captured, and shared.
Past business models and organizational successes were often based on choosing one or a few key strategic assets and leveraging those either through differentiation, cost competitiveness, or focus, still often influenced by Michael Porter’s generic strategies.
The lines and boundaries of entire enterprise eco-systems are being redrawn and new models of collaboration are being invented. Enterprises need to significantly alter the very fabric of their enterprise, yet many stumble on a critical dilemma: how do we let go of the past, the history, the experience, the successes that led us to where we are, while reinventing ourselves to define a new future and breakthrough results?
As executives of large and global organizations, are you leading the way? Are you willing to turn yourselves inside out as a member of the executive team, whether at the top or in a business unit? Are you bringing your people along in a way that inspires and moves them?