What Will Drive Growth And Market Share In The New Economy?

Gary Kasparov once said -"To become good at anything you have to know how to apply basic principles. To become great at it you have to know about how to violate those principles".

Markets and industries may be categorized as fast-moving or not so fast-moving! But across industries, there will be 3 Key Factors that will determine the speed of growth and the organization's market share in the future!

We have heard a lot about the need to be innovative and disruptive but we have to get our fundamentals right first! It’s only on a strong foundation a strong and sustainable structure can be built!

To my mind, the 3 Key Fundamental Factors for an organization are the following,

A-The Hiring Agility -Creating a formidable talent pool and Human Capital

In a world grappling with what the AI will and can possibly do it's getting more and more critical to get better talent on your side than your competition. It's going be the HI i.e. Human Intelligence that will tilt the scale -more than what AI can do -for a long long time.

Getting talent onboard is a double-edged sword! There will be some who will fall out and some who will be immensely successful. When a newly appointed senior management does not work out in some of the largest organizations the fault lies not only with the organization that decided on the talent but also on their search partners. Much has been said of the issue of culture match -but it's actually a mix of culture, DNA, the history of governance in an organization and the appetite for growth. 

While we know that culture and DNA matching is key and much has been written about it, not much importance is given to the history and the governance and the hunger to achieve. Governance is not just about the rules of the game but also it is about policymaking and the balance between the heart and the mind -the balance between logic /rationale and empathy!

Organizations need to move with speed today more than ever before. Hunger in the belly and appetite for growth will tell you about ownership and how driven is the person to achieve huge success! 

B-The learning agility.The Always Learning attitude!

The difference between human beings and other animals is a great desire to learn.

So too with organizations! Organizations with a built-in DNA to learn will do better. With learning and knowledge comes ideas and innovations. It's the diversity of knowledge that gives us a platform for innovation. I am a strong protagonist of the diversity of experience among professionals - FMCG companies can learn a few things from other industries and vice versa. Only if the DNA of the company is of constant learning will it be able to race ahead of its competitors.

C- Fearlessness

Incentivize Curiosity among your employees even at the cost of some failure!

Encourage employees to be fearless! In fact, fearlessness starts at the Top.

Fearlessness and trust go hand in hand! Hire only those you trust and let them free!

Organizations have to have the ability to soften the blow when you make a hard landing!

As Alice said -it’s getting “curiouser and curiousier”!

Organizations have to have a culture of allowing people to be themselves!

Having clones in an organization will end up stunting the growth and the ability to fly!

In order to flourish organizations have to hire right and have faith in them to let them fly!