The future belongs to companies that are agile, responsive, and resilient. You can build those key characteristics into your business by applying the five design elements set out below. They are shown as a list, but they are all interconnected. Doing well in one or two is good but not enough – you need to master them all. And you need to do that in a way that builds and sustains trust – with consumers, your people, and all your ecosystem partners.
1. Harness dynamic ecosystems
Make your organization part of a connected, dynamic and flexible ecosystem that integrates your consumers, customers, suppliers, partners, data research companies, start-ups – and sometimes even your competitors. Everyone in the ecosystem has a role in creating value. They will all benefit from a share of it.
2. Embed digital and data into your DNA
Create a listening organization – one built on data and analytics that enables you to make the right decisions at the right time. Digital networks and their data flows are the connective tissue and nervous system that enable the ecosystem “body” to function. Many companies are prioritizing analytics, but that’s not enough.
3. Embrace talent flexibility
Develop people with deep skills in key areas like technology and data transformation, but you also need brilliant generalists across functions with the mindset and capabilities needed to work together in new ways. An adaptive workforce and culture thrives when supported by emerging technologies and new ways of working.
4. Innovate at scale
Involve everyone in the effort to innovate. People on the front line, dealing with consumers and ecosystem partners daily, are often the best sources of ideas. But these ideas are often not captured, or rigid processes stop them from gaining traction. The most successfully innovative companies support cultures, technologies and processes that capture, rapidly develop and scale ideas that work.
5. Let your purpose shape everything
Embed your organization’s purpose in everything you and your people do, every day. It will define your value propositions, your role in ecosystems, how you attract and retain talent, who you partner with, and which consumers you serve. Sustainability and purpose are key drivers of value, but they aren’t always made an integral part of operations.