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27 06 2023 05:06 PM
The world is rapidly changing. The authors define this new environment as 'Velocity'. Digital data allows instant feedback loops to help and organize better adapt and meet its customer needs better. Critically brands need to become 'service' oriented with a shift in mindset from 'How do we convince?' to 'How can we be useful?'
A tale from the old Wild West: No matter how good the cards you hold, if someone changes the rules of the ga with a gun, those cards are useless. The gun (i.e. new technology) changes everything. Organizations that do not evolve will decline - Big organizations are trapped in old mindsets and modus operandi that built their success in the past. Since the environment has radically changed, these beliefs and processes are holding them back-e.g. CD's vs. Digital downloads; Blockbusters Vest Netflix; Kodak film vs. digital.
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