Lead, Follow, or Be Swept Away in a Tsunami
“Change is the only constant” – Heraclitus, Greek philosopher ~ 500 BCE
Today’s market is rife with disruption. Business models and technologies, once well entrenched, are being upended by unprecedented innovation. But it is not mere “disruption” that colors today’s environment. Instead, industry and markets are shaken by a pervasive turbulence of Continuous Change.
One trait of Continuous Change is the unparalleled upheaval of new technology. We are witnessing the acceleration of technological innovation and the shrinkage of technology adoption curves, all driven by both new knowledge and shifts in perception.
Compared to the inventions of the 20th century like the telephone, household electricity, and the automobile, technologies today progress through the troughs and peaks of Gartner’s Hype Cycle faster than they did decades ago – a concept that some call adoption compression. The landline took almost 100 years to reach a billion customers. Mobile devices achieved market saturation within 20 years. Social communication platforms are likely to reach that same plateau within half the time, outpacing any comparable technology in the leap to mainstream use.
“Knowledge constantly makes itself obsolete; with the result that today’s advanced knowledge is tomorrow’s ignorance.” – Peter Drucker, management thinker and educator
Improvements in speed and cost are only the primary accelerants of this interconnected technological revolution: capabilities themselves are being transformed to realize what was formerly impossible. Therefore, innovation is not a one-off event, but a chain reaction to changing circumstances. A sustainable innovation system that combines both agility and capability becomes paramount to the success equation in today’s business environment.
Two other factors in terms of demographics and perception boost the emergence of a breeding ground primed for innovation:
- Millennial Takeover: The influx of Millennials into the workforce is offsetting the gradual retirement of over 75 million Baby Boomers, who were born and matured on legacy systems. Over 33% of today’s workers are Millennials, a group known for their short attention spans, openness to diversity and innovation, and passion for real, sustainable impact. These three traits set the stage for an era of change-friendly leadership, ready for acceptance and implementation of new technology.
- “Risk-Ready” CIOs: The Federal Information Technology Acquisition Reform (or FITARA) has put CIOs at the helm of agency IT plans. But only 5% are satisfied with progress so far. Serious reservations linger over deficient security and performance of outdated technologies. Key priorities now emerging are: 1) re-engineering IT modernization and cybersecurity, 2) cloud-based computing, and 3) a sharpened focus on the open source model. CIOs have accepted that change must match the pace of technology. This change agenda comes with an increased willingness to endorse bold ideas and acceptable risks. This represents a boon for industry partners seeking to capitalize on a revamped IT strategy.
Both CIOs and the increasingly millennial workforce are prepped for an era of technological hyperactivity. But the onus is on change agents and technology firms. They must sustain thought leadership and integrate new digital technologies into viable solutions to keep pace with the federal IT agenda and the market.
CVP is taking an assertive approach to avert complacency and embrace Continuous Change. We have developed a plan, not just to react to these changes, but also to make optimal use of this innovative potential. Mere responsiveness to market dynamics is no longer enough. Instead, for CVP, proactive readiness and predictive realization comprise the success factors for navigating change.
Today’s Continuous Change serves as an opportunity for thought leadership. CVP plans to remain on the crest of this change curve by forging strategic solutions and capabilities to deliver innovation and impact.
Change happens. Continuously. Are you and your organization ready?
By Anirudh Kulkarni, CEO with Rose Wynn, Senior Analyst
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