Hierarchy is chosen to identify ranking in almost every context from the military to academic institutions. Similarly, civil society to information technology defines hierarchy. What happens then when the hierarchy breaks down? There is a shift in the paradigm. Lines, ranks, borders, and currencies blur by the minute. The question begs to be asked: Who will own the future?
Will your company survive the paradigm shift?
Sweden’s Spotify and Germany’s Zalando are two of the leading firms in Europe. They have a combined market value of around $48 billion, according to Bloomberg Business. This is huge but peanuts when compared to China’s Alibaba worth approximately $480 billion. This, moreover, is even smaller compared to US company Facebook’s market cap of $550 billion.
Why are European businesses not growing as fast as US and China counterparts? Is it because they are still operating in efficiency optimization mode? Are they not shifting towards innovation and experimentation culture? And most importantly, are European entrepreneurs refusing to take greater risks and go out of their comfort zones?
Are you playing it safe? Are you satisfied staying on the side lines because it is much harder to lead the way?
Do you have the mindset of what it takes to be ahead?
A century ago, oil was the new gold. Today, data is the new oil. It is now the most valuable commodity. Are you capitalizing on the data economy? How do you keep yourself abreast about the next big thing?
In this era of technological ferment, there are surely winners. However, those who cannot keep up have also grown disproportionately.
McKinsey conducted a study of 6,000 companies. The study shows that economic losses of the bottom 10% in the list are 1.5 times larger on average than those of their counterparts 20 years ago. Technological adoption mostly explains the gap. Therefore, you must rethink radically to navigate these skewed times and push the envelope of innovation in order to not get left behind.
Are you a leader who will make a difference?
Steve Jobs revolutionized personal computers. He paved the way for democratic access to information. Coco Chanel freed women from the shackles of uncomfortable dressing. She loosened up strict gender norms. Winston Churchill led World War II and introduced the concept of the People’s Budget. Martin Luther King Jr. led the civil rights movement. It was at a time when even imagining it was a crime.
Do you have the same grit, courage, and “do-ocracy” mentality to challenge the status quo? Are you willing to break barriers for your company and advocacy? How radical of a change are you willing to empower and deploy?
David Marquet shares his story of courageous leadership on the Worldwebforum stage. David was commander of the nuclear submarine Santa Fe. Watch his speech now.
Gabrielle Bonheur “Coco” Chanel
Neil Alden Armstrong
Sir Winston Leonard Spencer-Churchill
Steven „Steve“ Paul Jobs