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    The Wise Enterprise: Reshape your organisation for the age of uncertainty
    The Wise Enterprise: Reshape your organisation for the age of uncertainty
    The Wise Enterprise: Reshape your organisation for the age of uncertainty
    Ebook140 pages1 hour

    The Wise Enterprise: Reshape your organisation for the age of uncertainty

    By Arash Arabi

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    About this ebook

    To be successful in the new age of uncertainty, organisations must make the right decisions. The margins of error are narrowing, and the wisdom of those decisions will determine their future. 

    

    The Wise Enterprise brings together a set of capabilities ess

    LanguageEnglish
    PublisherSprint Agile
    Release dateSep 16, 2020
    ISBN9781922391148
    The Wise Enterprise: Reshape your organisation for the age of uncertainty
    Author

    Arash Arabi

    Arash Arabi is a globally recognised transformation consultant, multi best-selling author, international speaker, and Taekwondo world champion. He is the founder and CEO of Sprint Agile, and his work with multi-billion dollar companies has been featured on TV, news outlets, and print media multiple times. Arash has coached numerous high-profile organisations, including some of the largest and most successful organisations in Australia and globally.

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      Book preview

      The Wise Enterprise - Arash Arabi

      Introduction:

      What is a Wise Enterprise?

      What is wisdom? Years ago when I was in school, we were told that wisdom is the ability to apply knowledge in order to make the right decisions. I believe this is a limited view of wisdom.

      Psychologist Lisa Feldman Barrett believes that wisdom includes not just the application of knowledge but also realising when you don’t have the right knowledge, when it’s better to step back from the certainty that you know. ¹

      One of my favourite definitions of wisdom is from the philosopher Valerie Tiberius. She defines wisdom as the set of dispositions, skills, and policies that help us deliberate about what matters in life and then translating that into choices and actions. It is basically figuring out what is good and then achieving those things while helping others to do so as well. ²

      Wisdom gives us the ability to be resilient in the face of challenges and enables us to make the right decisions – decisions that not only lead to the best outcomes for you or me but also for those around us and which lead to making society a better place.

      In today’s age of uncertainty and change, organisations are facing unique challenges and difficult decisions every day. How organisations respond to these challenges defines if they are wise or not. A wise enterprise makes decisions that lead to not only higher profits but also happier employees, happier customers, and improvements in their communities, from the local to the global.

      More than ever, changes are happening in the world at an unprecedented speed. Think of what the world was like even five years ago. Compare it to what it looks like today. These exponential changes are happening simultaneously and on multiple tracks: Technological advancements, artificial intelligence and machine learning (AI & ML), robotic process automation, a constantly shifting job market, globalisation, environmental and climate change, regulatory and compliance changes, evolutions in how marketing and advertising are performed, the amount of information and data available, ubiquitous computing, social media, and personal lifestyle transformations. These are just some of the examples.

      We live in a time when the largest watchmaker is a technology company. Gone are the days when Swiss precision engineering was the hallmark of great watches. Apple is now the biggest watchmaker in the world. The most valuable car company in the U.S. (in terms of market cap) is Tesla, another highly successful tech company that has been exceptionally adaptive and efficient while reaching the forefront of next-generation vehicle manufacturing. We live in an era when not even the large banks are safe. Small and agile fintechs (financial technology companies) are gaining market share across the globe with innovative approaches to managing money.

      Recently, with the outbreak of COVID-19, we are experiencing a level of uncertainty that is unprecedented in recent history. Today, change is happening at such a speed that every week feels completely different. The only certainty is that we are living in uncertain times. The COVID-19 crisis will pass, but it’s a powerful reminder that there are highly unpredictable and disruptive forces at play in nature that arrive unexpectedly and turn all our plans upside down.

      In such an era of rapid change, disruption, and uncertainty, organisations face difficult decisions on an almost daily basis trying to stay ahead – or keep from falling behind. Organisational and personal performance can no longer be measured and managed as it was in the past. With increases in complexity and the massive amounts of data now available in nearly every sphere of operation, most business metrics used today are becoming meaningless. Potential disruptions and competitive pressures source from everywhere in the world, not just local or regional markets, while the disruptive forces of the internet transcend all borders.

      Some of the most common challenges that organisations face today include the following:

      Not being able to predict the future.

      Inability to respond to changing markets quickly.

      Low levels of collaboration across teams and departments.

      Being stuck with legacy systems and difficulties in modernisation.

      Lack of vision and strategy for the future.

      Inability to source and retain the right talent and skills.

      Low revenues and high costs.

      Reduced budgets.

      To be successful, organisations must make the right decisions when such challenges arise – the margins of error are narrowing. The wisdom of those decisions will determine their future. Wiser decisions lead to better long-term outcomes for shareholders, employees, and customers while improving society and the environment that the organisation operates in. Wiser decisions are what organisations need to thrive in the age of uncertainty.

      Organisations face a wide range of uncertainties and challenges.

      The Right Tool for the Right Situation

      Organisational wisdom depends on a set of capabilities that increase the likelihood that it will apply the correct value judgments when making important decisions. A wise enterprise may, for example, sacrifice short-term profit to strategically increase other types of value over the long run. Or it may heavily invest in ongoing staff learning and development to stay competitive in changing landscapes.

      A wise enterprise makes the world a better place.

      Today we see a rich variety of methods, frameworks, mindsets, and solutions intended to enable organisations to thrive in the age of uncertainty. But the hype around them has only created chaos and confusion, leading to situations where many organisations jump from method to method running transformation program after transformation program, only to realise few tangible benefits from their efforts.

      Agile, DevOps, Lean, Design Thinking, Business Agility, Customer Centricity, Product Mindset, Customer Journey, Teal Organisation, Growth Hacking, and Digital Transformation are examples of buzzwords propagating the organisational improvement space. Even commonly accepted words such as mindset and culture have taken on a buzzword aura.

      While these performance-enhancing strategies were originally created to describe specific approaches towards solving challenges that organisations face in the modern world, the words themselves have lost their true meaning. Over the last few years, many management consultancies and practitioners of organisational development have used these cool-sounding terminologies to market themselves without deeply understanding what they are actually selling and with little agreement on what they are. For example, I can guarantee that what you believe Lean to mean will be different than what I believe it to mean.

      To make this chaos even worse, many management consultancies claim they have a silver bullet – proven methods capable of solving most if not all of your problems. They’ll show you professionally designed slide packs with bold statistics of improvements from previous clients while decorating their message with industry buzzwords. We all know there are no silver bullets, but the confusions of the age of uncertainty, compounded by the chaos caused by all the hype, make it very difficult for some decision-makers to tell right from wrong.

      To be wise, we need to learn how to tell hype from reality. We need to rise above the noise and uncover what really matters. Instead of reaching for magical solutions to our problems, we need to accept that there is no substitute for hard work – yes, hard work. But that work is easier than you might imagine if you become wise and learn what really needs to be done.

      Now what if I told you that there actually is a silver bullet? But this silver bullet cannot be bought; it needs to be built. This silver bullet is organisational wisdom. A great consultant doesn’t come with all the answers but holds our hands and guides us through the process of building that wisdom. There is only one solution, one silver bullet: the one that grows out of the culture of a particular organisation. It cannot be installed or implemented. It is something internal. It needs to be built from the inside by taking action and learning from experience. With such wisdom, an enterprise will equip itself to make the right decisions in any situation.

      In order to build this wisdom, an enterprise must tap into its entire intellectual capital. Humans are the neurons of the organisation mind and those neurons should be healthy and well-connected for an enterprise to become wise. Management and staff will need to create an environment of creativity, collaboration, proactive innovation, and commitment where everyone is aligned with the mission and vision of the enterprise, contributing as if they are working in their own business.

      In this book, I will go through a set of capabilities that will help you in the journey of building a wiser organisation. Brought together, these capabilities form a paradigm and a worldview that shapes one’s attitude when faced with challenges. This will not only make you a wiser individual but help you build wiser teams. Once applied, this

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