Chaos might have defined the year that was 2020, but that turmoil helped business leaders learn a new skill that will serve them well in the years to come.
Investments that are necessary to innovate and serve customers are no longer sustainable while COVID-19 hastens the need to exploit the potential of digital innovations. Serving customers accurately during unprecedented times requires a new mindset and business model innovations. If banks respond to customer requirements in completely new special situations, they can gain trust and integrity and become winners of the crisis.
Western societies and the systems we depend on to make them function are becoming ever more complex. As a result, they are also becoming more vulnerable to catastrophic, systemic failure. As individuals, communities and societies we may, at the same time, be becoming less able to cope with such events as we lose basic skills, families are more scattered and communities less connected.
Is it possible to accurately predict if a person will be an effective creative thinker at work? After conducting rigorous tests, one Australian innovation firm says definitely yes.
Unpredictable, turbulent markets and fluid industry boundaries characterize today's global economy. Yet our approaches to strategic planning, formed in the closed markets of the Industrial Age, often assume exactly the opposite. As a result, companies are mired in commoditization, industry disruptions from unexpected competitors, stalled growth, and tentative strategies. To gain the agility needed to thrive in today's complex and demanding open markets, strategy must become an innovative design process focused on value creation, says Kay Plantes.
By adopting the behaviors and principles of improvisation, organizations can achieve significant and robust cultural change in the direction of innovation, says creativity and improv expert Doug Stevenson.
What does improvisation have to do with the needs of business today? Plenty, says improv expert Jay Rhoderick, who shares some practical strategies for using it to break out of our rutted thinking and generate new insights.
Michelle James explores the fascinating connections between adhering to the principles of improvisational theater in a performance and being able to adapt, create and improvise effectively in the work place.