SPEED OF CHANGE…
D. Otieno Odhiambo
Visionary Technical Program Manager. Transforming Ideas into Scalable Solutions. Driving Innovation Across Tech, Trade and Logistics
These are just a few examples of the disruptions that will clearly illustrate to you that CHANGE is vicious and SUPERFAST;
1. ‘A CUSTOMER downloads an app from Apple every millisecond. The firm sells 1,000 iPhones, iPads or Macs every couple of minutes. It whips through its inventories in four days and launches a new product every four weeks. Manic trading by computers and speculators means the average Apple share changes hands every five months.’
2. Interesting… Years it took to reach 50 million users: Radio 38 years. TV 13 years. Internet 4 years. IPod 3 years. Facebook 4.5 months. Angry Birds Space – 35 days.
3. Yahoo was once valued at $125 billion but it was allegedly sold off for $4.8 billion.
If you ask any CEO today what is changing their organization, the odds would be they say speed. Speed at which change is adopted by an organization is the game changer. Organizations are now putting a premium on speed, because the speed at which the change is disrupting the economic environment is a beast ‘Amazon plans to do “anticipatory” shipping before orders are placed’. For large corporations technology is a constant but speed offers the competitive edge.
The cap on interest rates in the Kenyan Banking landscape has fundamentally disrupted the industry. Therefore new strategies have to be drawn as a result of the uncertainties surrounding this bill and adjustments have to be made to ensure that Q4 targets are as closely aligned to the forecasted returns as possible. This will work best for the banks who will swiftly realign with the new rates. Banks will have to invest on variables such as technology and intellectual capital which while leveraging on cost to be able to sustain investor interest.
For our government, it’s our education system that needs an agile transformation as to be able to put as anywhere near developed countries. Kids in developed countries are more advanced in knowledge compared to our kids because their system aims to provide future solutions to the insatiable needs that supports the world, whilst our system which is too intensive and is focused to qualify us to only support our lifestyles as consumers. Our mindsets must cope with the speed of change to be able to catch up, we need more entrepreneurs and innovators at a younger age who are volatile enough to drive the change.