The Enabling Economy: A Seismic Shift in Business
A rapidly evolving business landscape is forcing organisations to shift on many fundamental levels…the way they work, structure, engage, innovate and lead.
There are exciting opportunities for leaders and businesses to flourish in this new ‘Enabling Economy’ and there are a number of pitfalls to avoid.
What is the ‘Enabling Economy’?
Around the time of the Industrial Revolution, organisations structured themselves in a militaristic fashion – top down, siloed and productive.
This approach worked for decades and was adopted by many powerful organisations.
However, the uptake of the internet around the end of the last century opened business boundaries on a global scale…the famous matrix structure was born and dotted lines allowed varied accountabilities, responsibilities and collaborative opportunities.
Since the turn of the century there has been more ‘disruption’ to these organisational approaches than ever before.
Why the seismic shift to the ‘Enabling Economy’?
Technology:
The much heralded digital era has smashed long-held business assumptions. Along with ‘The Cloud’ and more accessible connectivity, the digital era is producing an exponential amount of business opportunities.
Impact on Business:
Organisations are rapidly being enabled to find different ways to innovate, operate, partner, collaborate and go to market. Geographical boundaries are being crossed everywhere, all the time, as global competition increases.
Impact on People:
Customers are can more easily get what they want. When they want it. In the way they want it. For a price they are willing to pay… but it might be different next time.
Many of these people also work in organisations … their shifting and ‘enabled’ mindset stays with them as they go about their daily work. The ‘Enabling Economy’ is beginning to significantly influence both their professional and personal worlds.
The world evolves and those able to adapt – agile, flexible, innovative and open-minded – go with the change. Like in nature.
What are the Enabling Economy Opportunities and Pitfalls?
Some organisations are looking for quick fixes, focusing on each ‘disruption’ and trying to bring innovation in-house in the race to keep up. Some are just soldiering on as though they won’t be impacted, it’s not their issue. ‘If it ain’t broke, why fix it.’ Some organisations are really struggling with long-held operational and cultural barriers that refuse to budge. The intent is to be different but old habits die hard.
However – some businesses and their leaders have embraced this shift and are driving a continuous approach to transformation and an ever-evolving mindset in a new world. They are purpose driven…constantly shifting their focus and adjusting their organisations to support this.
Ultimately, it’s up to the leadership to decide if they want to act.
Hidden Treasures:
Those at the forefront of the Enabling Economy are also finding many hidden treasures beyond the obvious business benefits.
People from all generations and demographics are inspired by organisations who lead the way. They have an increasing awareness of what is happening in the world around them – personally and professionally. Career opportunities are also rapidly shifting and opening up …often forcing organisations to actively promote people to not just work across silos, but learn new roles and skills.
Creativity, innovation, collaboration, partnership, empowerment, fun and agility are becoming more than mere corporate clichés … they are playing out their actual meaning.
