In today’s world, where change seems to happen in the time it takes to click a mouse or tap a smartphone, newer, agile companies are beating long-standing industry players at their own game. The taxi industry, cable television, and even banking have all been forced to reassess traditional ways of doing business thanks to nimble startups that don’t operate within antiquated systems.
With discussions about emerging technologies taking place inside every boardroom today, it is easy to believe that artificial intelligence (AI) will one day do the job of a CEO: designing and implementing strategies. But, at the core of strategy design and delivery, there are key human factors – and that means people won’t be replaced by machines any time soon.
Most humans are change-averse. They’re reluctant to change because they prefer stability and predictability. And although people love to talk about change in the abstract, they can’t stand to actually go through with it. That is the paradox.
Barely a day goes by without some new claim made on behalf of smart machines. Artificial Intelligence (AI) and machine learning are already changing our lives. In future they will automate many of our everyday tasks – from driverless cars to shopping drones.
Sustainable growth depends on delivering the right strategies the right way. Yet this is something that organisations appear ill-equipped to do. Our work at the Brightline Initiative is examining what causes the gap between strategy and implementation and how it can be closed. Our research suggests that business leaders need to answer ten key questions for their strategies to more effectively make the leap from design to delivery.
Ricardo provides an inspiring interview to TaskQue about career, challenges and trends.
Despite the incredible advances taking place in the world, a growing number of organisations will disappear in the next decade. The reality is that markets now shift in the blink of an eye, yet the underlying factors that cause them to change are often years in the making.
According to the research, excellence in strategy implementation is way off balance in comparison to strategy design. The gap between them is growing exponentially. Moreover, the harsh truth is that strategy itself shows little value until it is successfully implemented. In a fast-moving business world, where a lot can happen in the blink of an eye, assessing and realigning quickly from strategy design to delivery is what it takes to succeed in the market.
Facebook live interview of Ricardo for The Economist during the Davos panel: The Business Case for Openness
When we think that we are wasting $1m every 20 seconds due to the flawed implementation of programmes and projects, it becomes clear that we need to do something to rectify this problem. The short answer is that our society cannot afford to waste this huge amount of resources every year. It is a massive destruction of value, not only in terms of loss of profit for the private sector, but it wastes resources from governments and the not-for-profit sector too.