Since World War II, the global economy has followed an extended S-curve of growth. The foundation of this growth has primarily rested on the traditional value drivers of scope, scale and efficiency to measure performance and value.
However, within the last 10 years, we’ve begun to see a shift, both with the backlash against companies that ignore their systemic impacts on the world, and with the explosive rise of digitally-driven, hypergrowth “unicorn” companies that have exponentially raised expectations around the consumer experience and propelled valuations to new heights.
We expect another disruptive generation of leading companies to emerge from the current pandemic crisis, accelerating existing trends and creating new ones. They will operate by the rules of a new S-curve, where innovation timelines compress and ideation, prototyping, piloting and commercialization will happen in rapid cycles at global scale.
Examples of companies that leaped onto the new S-curve during the pandemic include a healthcare enterprise software company developing a video-based medical consultation service in 48 hours for healthcare workers in the UK, an African taxi start-up becoming a delivery service, and a Canadian biotech company that used its AI platform to identify drugs already FDA approved that had the potential to treat COVID-19.
These and other innovative companies have left behind the traditional drivers of scope, scale and efficiency in favor of long-term value creation to meet the dynamic demands of their customers or broader society. In following the path toward long-term value, organizations will need to build their performance using new transformational value drivers that put humans at the center of purpose and strategy, deploy technology at the speed where exponential benefits accrue, and innovate at scale to be at the forefront of reshaping industries and customer expectations.