Facebook has recently announced its new cryptocurrency which is called, Libra. Libra will be independent of Facebook and will evolve not only as a currency but a financial institution eventually. Facebook being one of the three tech giants, entered the cryptocurrency race and this is not surprising.
Governments and regulators are uniquely aware of the benefits as well as the concerns about the dominance of the big 3: wiping small competitors, disregarding regulations and rules, and imposing their heftiness on every one else.
When giants ruled the earth, a billion years ago, the rest of the species grew too. And yet in the era of uber-competition and massive technological race, it is really a zero-sum game- the swiftest with the mostest?
If the government can't battle with the billion-dollar corporations in terms of implementing regulations to support consumers' interests, where will the consumers go for protection, support, and welfare?
In geo-politics, the rise of the two superpowers 60 years ago culminated in the dominance of only one big superpower- the United States of America which became the 'accidental cop' of the world. Yet, regional powers have emerged with renewed vigor, upsetting the hegemony of a superpower using trade, economics, and partnerships to leverage their reach amongst other nations and impose their interests.
This echoes what has been the current narrative about it: it is good when it is benevolent and moral, and it's really bad when it acts like an evil empire- which can be embodied in one organization at any given time.
I had a conversation with a friend I hadn't seen for a long time. After all the niceties, we talked about the organization where we both became trustees at one point and continued to have strong affinities with it after all those years.
She mentioned something about mission incongruence. Incongruence manifests if there is a misalignment, disharmony, or conflict in mission/goals/objectives. The organization is swimming in two ponds, one in service delivery and the other on in profit-oriented venture where in either one or the other, it is failing miserably.
The question with mission incongruence is-if the organization is suffering from incongruence, then somebody has to stand up and say, this is not working!. I think a lot of organizations are in denial and could not bear to admit that whatever is ailing them is not a matter of execution, but of strategy. The strategy which was once the most sound or the most plausible of all direction, is now ready to be reviewed and reexamined in the light of changes to the organization internally and externally.
When the organization says 'ouch', then what is the remedy? The remedy is not far behind. Usually, it is the combination of creating pragmatic changes to things at the strategic management level and down to the operations and service delivery.
Denial in personal life and in business can be removed when the darkness is lighted, it could no longer afford to be in the dark anymore. This is true in our organizational lives, when one part is examined, there is no excuse not to see what is really going on, the rut, the mold, and the spiders!.
Light in this case are the facts and evidence that comes from observed reality. Take time to observe what is actually going on versus what is believed to be.
There is a prevailing misconception that only those that are in Fortune 500 companies have a corporate culture.
Small organizations have culture too. Every organization has culture if its made up of people. People have culture.
Culture is anything that governs behavior. It could be the founding principles, values, beliefs, ethos, and assumptions about the organization. It could be how the Founder thought the business should be. It could be anything that is accepted tacitly but never consciously questioned.
While culture is never stagnant, it could get stale and could be fossilized into something that your organization is fighting against. It could be a tradition devoid of any pragmatic and practical use for the organization. It could be a culture fighting a new strategy that is bent on bringing new and fresh perspective with the way things are done. It could be anything that is made to become the standard of behavior of people in the organization.
Culture cannot be static and immutable. It has to grow and flourish in the service of the company's goals and objectives. It has to be tended as people and culture go along together in creating the best company/organization where people prefer to work, invest, and support through patronage and client loyalty.
Show me your office culture and I will show you who you are!
When we talk about disruption in our economies, we rarely talk about how these changes impact on our careers and professions.
Disruption is the new normal. It is becoming trite and tired already.
The reason why organizations get disrupted is because they fail to anticipate the obvious- the sea of change that is enveloping their very existence.
If you are not innovating, you are not growing. And if you are not growing, you will be disrupted. Innovation in my vocabulary is not about invention. Innovation is the engine of disruption.
Have you heard lately that Payless is closing all of its stores in Canada, some in US and Puerto Rico? According to the news, the reason for the closure is that the prior reorganization was ill-equipped to account for the current retail realities -which means that the management made a big mistake by not accounting for the growing online shopping in Northern America.
It is quite revolutionary that the buying patterns of the public has led to massive reorientation and bankruptcies of major retail players, Sears, ToysRUs, Macy’s, to name the recent ones that have folded or beginning to fold up.
While Payless caters to the lower segment of the market where price is a sensitive issue, it wasn’t immune to the competition that is happening online when buyers shifted the way marketing, merchandizing, branding and promotions, distribution, delivery, payment systems, and customer services are done with retail. Big box companies are beginning to see the follies of the mantra, “big is big.”
What should be obvious is the Walmart remains the number 1 competitor in industry. Walmart is trying to succeed in the online shopping space where Amazon remains the industry leader with selling things online. Amazon and Walmart is up to the races to the future of the marketplace. Let's see who will win but at present, these two companies have shown that it pays to be adaptable and to listen to your customers!
Are you planning to improve your organization this year? or are you gearing up to do the same-old, same-old?
A lot of organizations these days tend to do the latter. They think that by cruising along and being more busy (than means doubling up on the amount of programs and activities), they are being strategic and effective. Effectiveness here means in my vocabulary the ability to achieve the outcomes and results they wish to seek through their efforts.
Businesses, nonprofits, and governments cruising along and wishfully thinking that they can copy past success by doing the same thing are totally misled. If there is no effort to improve and surpass past year's performance, status can keeps mean sweeping the problem under the rug delaying the resolution of some of the issues pestering the organization that will actually help the organization move forward.
Are you stalling to discuss the next direction of your organization for fear of catching more problems than anticipated? What about the changing environment where complacency doesn't do you any good?
Get out of your comfort bubble and tackle the obstacles in building a new and secure strategic direction before an overwhelming situation compels it at your own expense.