Future of Organization and Work
Five years from now the society will not be the same what it used to be and what is now. The way we do business has its global impact and vice-versa. Future of work and organisations will not be the same. Nature of work and the way we perform will see complete change.
Future of organisation is no more limited through objective principles of management. The world of work faces an epochal transition. By 2030, according to recent McKinsey Global Institute report, Jobs lost, jobs gained: Workforce transitions in a time of automation, as many as 375 million workers—or roughly 14 percent of the global workforce—may need to switch occupational categories as digitization, automation, and advances in artificial intelligence disrupt the world of work. The kinds of skills companies require will shift, with profound implications for the career paths individuals will need to pursue. The world of uncertainty through disruption is engulfing fast, changing the way we do business in complex environment. Building economic stabilizer is the way forward to stay relevant.
Performing through Economic Stabilizer
Management is the process of dealing with or controlling things or people. It is more of an administrative work to objectively control work in a specified norms, principles and SOP's. It includes activities including deriving strategy and co-ordinating efforts of the employees. Prima-facie, it is more to deal on the face value and in short term.
Whereas, Performance is the real action taken to deal with core value of the work to achieve common goal of the organization. Performance has always been the focal point for appraisal and not the managing ability.
Ricardo Semler’s TED Talk went viral when he says "The key to management is to get rid of the managers,". He advocates "Industrial Democracy" for performance and contribution by all individuals. He may be right because Business is no more governed by Linear and IPO Model to administer through objective Management Principle. Not being contributor adding value, management principles have live its days. Global experts and Management Gurus in shunning the management principles are advocating subjective Economic principles through individual contribution, creativity and innovation across operation.
Controlling things no longer appears plausible, and controlling people is downright counterproductive. Steve Jobs hit the nail on the head when he said: “It doesn’t make sense to hire smart people and then tell them what to do; we hire smart people so they can tell us what to do.”
Making Managers enablers by Morning Star or Southwest Airlines [LUV] or Valve or Zappos changing their traditional role has not only changed the cuture, but yielded results leading to growth.
Fundamental shift as we see now is that a strategy of making a plan and then executing it is no longer viable. What used to be known as “muddling through” is now seen as adapting to the fast-changing environment. Strategy, as we know it, is dead. Dealing with uncertainty is the number one challenge and, as the cliché goes, it’s the number one opportunity too. If your company isn’t the disruptor, it’s a clear sign that it’s about to be disrupted. The bottom line is that the hierarchical management mode is no longer suited for the challenges of the modern economy. Every pillar of a traditional organization is now in flux.
Companies are adopting different elements of revolution in diverse ways for being operationally excellent. While many have launched pilot projects, many has migrated to AI-led process. They don't know where to begin,or, how to start. This clearly shows their ignorance towards business insights.
Turning around the company is a the truest test of organisations,CEOs and Business Leaders performance. Unfortunately many fails while many achieves through inorganic growth. Ensuing change will be the biggest challenge that requires complete overhaul of Business Model, business perception, operation, culture etc disrupting traditional practice.
This can only be countered through re-skilling the talents to live up to the mark of AI. AI is set create huge space for business development while, eliminating human interface, and huge data. Ability to capture real time data, economic analysis and quick decision at execution level requires economic reasoning skill.
In the age of machine, people and talent matters the most. Creativity cannot be achieved through soft skill and behavioural development alone. Hard core Business Skill to explore alternatives through critical thinking, analysis and creativity - a third stage of cognitive development when we start realizing varied disciplines leverages varied assumptions leading to a different conclusion of what is right, is important.
Many Business Leaders and CEOs come in with a mandate to transform the company—including its strategy, business model, organization, operations, and culture. A transformation is not a series of incremental changes. Rather, it is a fundamental reboot that enables a business to achieve a dramatic, sustainable improvement in performance and alter the trajectory of its future. Because they are comprehensive by nature, transformations are complex endeavours, and the majority fall short of expectations for achieving their target value, coming in on time, or doing both.
Value is neither inherent, nor determined by a single factor, but is the result of the interaction of several impersonal market forces.
Organizations today need to develop Economic stabilizer for operational excellence and uniform performance across the period,hierarchy neutralizing and organization ever changing macroeconomic implications at micro level of operation, because, cost will continue to be more volatile and variable through period. Building core competency economic model for organic growth that help predicting wealth of any economic entity 10 or 15 years into the future is the key.
About the author
Author, as Operational Analyst, is Founder / CEO & Business Mentor of iGlobal Research and Analytics. He successfully pioneered and explored Econometrics across his 38+ years of Industrial vocation through diverse industry exposure.
Through his highly specialized two days discourse on Economic Engineering and Econometrics he mentors Executives, Entrepreneurs, SMEs,Intrapreneurs and Empoyees. He is also available for individual mentoring as may be required.
firstname.lastname@example.org, (91) 9433013863, Skype- manojkumar.trivedi1