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It has never been more important for leaders to learn from and respond quickly to economic, political, and competitive changes. In a world where change is constant, that response must be rapid and inspiring.
Some of the changes business leaders face, such as demographic trends, can be predicted reasonably well. Others — technology, for example — are much more difficult to anticipate. In a 2015 Fortune survey of CEOs, almost three quarters responded that the "rapid pace of technological innovation" was the greatest challenge to their companies.
It's not a matter of if but when your assumptions about your market will be upended. How can leaders learn to adapt quickly to new knowledge and trends — to disrupt themselves before others do? Speed and agility in learning are critical. How fast is fast enough?
According to Barry O'Reilly, coauthor of Lean Enterprise: How High Performance Organizations Innovate at Scale, your true competition is moving like lightning — “three-to-five iterations ahead” of what you are aware of. That may be a traditional rival or an upstart that's just a faint blip on your radar. And it's as true if you're operating in tech or manufacturing as it is if you're battling global terrorism. Development cycle times are shortening, as are customer adoption trends and windows of competitive advantage, O'Reilly told me.
Eric J. McNulty is the director of research at the National Preparedness Leadership Initiative and writes frequently about leadership and resilience.
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