The only thing constant is change itself. In times of incredible change and volatility, there is a need to build resilience into one’s organization. Companies that innovate successfully have two common traits: accountability at all levels of the organization, and willingness to raise their game with a lot of singles and doubles rather than focusing on home runs.
As worldwide population crosses 7 billion and shows no sign of slowing down, we’re seeing new trends that will shape our world, such as the growth of new megacities and the population migration in human history from rural to urban areas. The population increase is fueled by huge growth rates in places such as Africa, which is expected to double in population, compared to shrinking population in Japan and some other First World countries.
Another reason population is rising is that people are living longer. This impact is being felt on the labor front, where veteran workers are continuing to work beyond traditional retirement age. The labor pool is also becoming more diverse by age, race and gender, creating new social dynamics in the workplace.
Innovation, particularly driven by the Internet and worker mobility, is opening up markets in areas South and East of traditional European business centers. Today one can get healthcare, automobiles and technology in India at a fraction of the cost of European and American markets. As more people in India and other rising markets gain access to technology, the world could see innovation flowing from those countries back to countries that have been at the forefront of discovery for centuries.
Wherever innovation starts, it’s important that we leverage social and business networks efficiently to help it grow. Business leaders should focus on the quality of information exchange rather than the quantity. And it’s not all about mobile communication – a well-designed workplace continues to be a tremendous way to enable collaboration and productivity.