A seasoned leader would ask, is there any other way?
Yet many leaders hesitate to include all the three elements- the 2Ps and T, in their rapidly changing strategies. In their enthusiasm to meet the demands of agility and robust policies, they overlook the most critical factors of an organizational strategy. Whether it is panic or the board’s instructions for rapid change, the crucial elements of change get left behind in a hurry to move forward.
Very often, it is one or the other, in the three- people, processes, and technology. When they talk of using evolving technologies for better market traction, it may miss the most crucial ingredient of the pie- the people who will be using that technology- or the skills that will go into deploying it. In fact, a large number of technology deployments fail because the people angle is missing!
On the other hand, not having processes in place will most likely the biggest cause for the derailment of new technology initiatives even after getting skilled resources on board.
The right combination of these three depends on the company, the industry, and its roadmap to move forward. There is no silver bullet, for entering the disruptive growth phase for any company – the new foot forward has to be an extremely meticulous, planned initiative.
There will probably not be a better time to evaluate the consciousness of the fact- are you taking all three elements in your race to reach ahead of the market? With people and teams fast becoming remote, and processes becoming increasingly digital or at least online, disruption itself needs to be redefined. Of course, technology will play a huge role in meeting the demands of a world that are changing at lightning speed. Nothing is the same as it was a few weeks ago. Nothing will be the same again for many more weeks or months to come.
While technology will probably help every firm tide over this crisis, getting people and processes ready for this change will be as critical. Every company is racing to change itself- be more flexible, more malleable and agile to meet the new market needs- when the markets open
CMOs need to ask themselves- are the three key partners in your strategy, a part of the race?