When strain is put on a system it can either adapt or become extinct – and the same is true of any organisation facing rapid disruption and change. As Darwin himself put it: “it is not the strongest of the species that survives, but rather, that which is most adaptable to change”.
Add to this the extraordinary acceleration of technology, and we have hyper fast innovation. There is no room in this world for complacency in any business, but instead the need to remain ever more attuned to the changing dynamics of society, culture, and competitor landscapes which drive the expectations of the public, customers and consumers.
To put this in context, the average global life expectancy 60 years ago was 51. This has since increased to 73. Inversely, the life expectancy of a large business 60 years ago was 75 years, but fast-forward to today and that figure is just 15 years.1 The downfall of companies like Kodak, Blockbuster and Nokia are all held up as examples of how even the mightiest brands can fall if complacency and ‘wilful blindness’ creeps in.