Many large organisations have been trying to introduce new way of doing things to be aligned to changing world or which many call the Fourth industrial revolution. Most of these companies want to be prepared and not late in the race, which unfortunately has already begun few years ago. Technology companies are replacing the the traditional oil companies in list of fortune 500 list, they are doing stuff in a new innovative manner and adapting to new technologies much quickly than a large traditional ship can react to. In some way these new companies are also setting business rules and practices which needs to be followed by both old and new entrants.
Its done that these so called traditional large companies need to change and change fast. However the existing organisation structure, social debt due to previous ethical issues and the lack of any existing blue print is going to make this journey difficult.
There is no denying that there are major changes in the horizon – Artificial intelligence, Fintech disruption and innovation , are going to envelope us all in a phased manner to all major economies.
I also find it interesting that the senior management at times hired in such organisation find the journey to change the culture, objective and direction of the ship (organisation) interesting however due to very size and existing entrenched culture values of the organisation difficult to implement their thinking and ideas or the initial setbacks raises doubts in the mind of the Board.
Coming back to the puzzle how do the large organisation manage the changes. Do they quickly experiment on some key businesses and apply their learning then gradually to other businesses or do a quick bang changes all round so that the disruption though sudden but would provide clear field for the management to design on.