can explicitly standardize but are hard for competitors to replicate . Organisations must now begin to provide the much-needed answers to important questions about growth and scalability in the wake of this crisis . The main factors that will aid these include the ability to embed data and analytics in decision making , the creation of learning platforms that support both individual and institutional experimentation & learning at scale ; and the cultivation of an organizational culture that fosters value creation with other partners .
Those organizations that are making the shift from closed systems and one-to-one transactional relationships to digital platforms and networks of mutually beneficial partnerships have proved more resilient during the crisis . A 2020 McKinsey report quoted an unnamed CEO to have said that “ Every business is now a technology business , and what matters most is a deep understanding of the customer , which is enabled by technology ”.
Technology has revolutionized how organizations relate to their customers and their customers ’ customers and is therefore critical to create digitally enabled ecosystems as catalysts for growth and rapid adaptation .
When the Storms Come , Agile Stays Afloat
Agile companies regularly rethink and redesign their structures , governance mechanisms , and processes to strike a balance between speed , stability and efficiency . A company ’ s transitioning into agile could be daunting as it could weigh the organization down and discouraging . One critical prerequisite for sustaining real change is establishing the relevant behavioural norms required for success . This requires more than making cultural statements or listing company values but also involves instilling the right kinds of behaviour in employees regarding how things are done .
23 24 The Corvus