It’s incredible how robes have
swayed their way into the boardrooms dominated by slick suits and are now
sweeping the stakes off the table.
Who would have thought that the
complete outsiders to the world of business, ominously high on the abstracts of
metaphysics and religion can pose a serious threat to the champions of
P&Ls, armed with real world theories of Adam Smith and Philip Kotler.
Infact a whole new breed of new
age entrepreneurs in their jeans and chappals are pulling the rug from under
the oxfords.
If corporates in India are facing
heat from unexpected quarters, far in the west, outsiders from the boardroom
have stormed into the elusive corridors of politics, trampling many a career
politicians on the way. While trump is arguably the most powerful outsider in
the white house today, France has just witnessed, what many political
commentators have termed as the unprecedented battle between the two ‘rookies’
for entry in the Elsee Palace.
Around the world, in the range of
fields, from business to literature, increasingly, the old bastions are being
broken into by the un-experts and the un-initiated.
Chetan Bhagat, an investment banker, famously changed the course of English fiction writing in India, much to the chagrin of many a reputable authors.
Chetan Bhagat, an investment banker, famously changed the course of English fiction writing in India, much to the chagrin of many a reputable authors.
And both Garret Camp and Travis
Kalanick don’t claim any training in the world of transportation before Uber.
The course for next big thing in the automotive industry is being driven by the internet giant, Google, with their driver-less cars.
The course for next big thing in the automotive industry is being driven by the internet giant, Google, with their driver-less cars.
Although a lot can be attributed
to the success of these proverbial outsiders, one is particularly compelling; Today’s
world order that is at the cusp of extremities; Economically, Politically,
environmentally, and most importantly technologically.
These extremities have led human
race to be far more receptive to lateral changes in their lives, mostly either
out of urgency or aspirations.
We've become far more flirtatious
as consumers and increasingly less loyal with our political affiliations.
It is reflected in our choice of
Governments, and how readily we are embracing new products and technology.
Tesla is
borne out of the urgency caused by the rising threat of Climate change, whereas
the attempt at the first civilian flight to space is sign of our aspirations,
backed by enormous wealth, shooting through the sky, quite literally
Political commentators aver that the lack of trust and frustration with traditional politicians had reached the tipping point, resulting in the rise of Donald Trump.
As the new world order sets in, there are extremely important lessons for the custodians of businesses and brands.
1) Disruption is the new constant in these extraordinary times.
When world around us is moving exponentially, incremental improvements are not enough.
A better mobile handset with larger screen and a bigger pixel camera might not help Samsung continue its dominance for long. But introducing a new operating system before an outsider breaks the monopoly of Android and iOS could set the stage for the bigger things.
We’ve witnessed how legacy brands like Nokia and more recently, the struggling Indian IT outsourcing industry have been struggling to hold their ground against ‘outsiders’.
2) A healthy pipeline of new ideas
This holds as much significance for a services company as much for a product. As we run full throttle into a hurricane of uncertainties, a solid bench strength of ideas, informed by ground realities of consumer needs and aspirations is fundamental to survival.
Google and Apple are leading examples of the organizations on the constant look out for the next breakthrough. Whilst brands do undertake annual brand health surveys to take stock of present, an annual internal audit of the innovations pipeline should be commissioned to understand the preparedness to take on the future
Political commentators aver that the lack of trust and frustration with traditional politicians had reached the tipping point, resulting in the rise of Donald Trump.
As the new world order sets in, there are extremely important lessons for the custodians of businesses and brands.
1) Disruption is the new constant in these extraordinary times.
When world around us is moving exponentially, incremental improvements are not enough.
A better mobile handset with larger screen and a bigger pixel camera might not help Samsung continue its dominance for long. But introducing a new operating system before an outsider breaks the monopoly of Android and iOS could set the stage for the bigger things.
We’ve witnessed how legacy brands like Nokia and more recently, the struggling Indian IT outsourcing industry have been struggling to hold their ground against ‘outsiders’.
2) A healthy pipeline of new ideas
This holds as much significance for a services company as much for a product. As we run full throttle into a hurricane of uncertainties, a solid bench strength of ideas, informed by ground realities of consumer needs and aspirations is fundamental to survival.
Google and Apple are leading examples of the organizations on the constant look out for the next breakthrough. Whilst brands do undertake annual brand health surveys to take stock of present, an annual internal audit of the innovations pipeline should be commissioned to understand the preparedness to take on the future
3) Let ideas dictate expertise. Not the other way
round.
When the pace of change is as rapid and in an unforeseen way, unfamiliarity can be the new asset, devoid of ‘expertise biases. It can help you think using the first Principles, what Elon Musk describes as the ability to boil things down to their most fundamental truth and reason up from there. Rama Bijapurkar defines this as finding the ‘Next Best Practice’.
A lot of organizations have identified the importance of the new skills and are hiring people from outside their industry to being in the new perspective and usher in the next best practice. In 2015, Amazon has reportedly hired automotive engineers to work on its spaceship programs. Advertising industry is aggressively hiring people from diverse backgrounds and skills to bring on the table new perspectives, ideas and inclinations for their client.
When the pace of change is as rapid and in an unforeseen way, unfamiliarity can be the new asset, devoid of ‘expertise biases. It can help you think using the first Principles, what Elon Musk describes as the ability to boil things down to their most fundamental truth and reason up from there. Rama Bijapurkar defines this as finding the ‘Next Best Practice’.
A lot of organizations have identified the importance of the new skills and are hiring people from outside their industry to being in the new perspective and usher in the next best practice. In 2015, Amazon has reportedly hired automotive engineers to work on its spaceship programs. Advertising industry is aggressively hiring people from diverse backgrounds and skills to bring on the table new perspectives, ideas and inclinations for their client.
4) Go beyond solutions and create new possibilities. When brands show the world what is possible, they are truly loved. Steve jobs, created possibilities in the world of music and communication. Elon Musk and Jeff Bezos are creating new possibilities in the Astrophysics.
Back home, Fab India Showed how
we can look cool and chic in Indian ethnic wear
In nutshell, brands will need to
look at the consumers and their lives from ground up. To continue challenging
their own models, notwithstanding its success.
To live up to all of
this, organization will need to occupy a place on the doors of their Comfort
Zones, keep their ears to the ground, sniff out the opportunities and remain an
outsider, permanently.
