Many organizations stuck in The New Normal will discover too late that survival mode is no longer good enough...
The world woke up to a new economic reality in summer 2008 when the Great Recession took a downward turn that destroyed millions of U.S. jobs and shook the global economy. Companies hunkered down as a New Normal settled over the business landscape. Gone were the days of rapid growth, easy credit, and subprime mortgage schemes that helped turn housing into private ATMs. Western dominance also waned as the balance of economic power shifted east toward China, India, and other emerging markets.
Perhaps more than anything else, the Great Recession highlighted the increasing interconnectedness of global markets. Manipulation of the LIBOR in London hurt mortgage holders in the United States. Foreclosures in the United States hurt manufacturers from to Mexico to Vietnam. Few countries existed in isolation, which meant all suffered together to varying degrees.
Gradually, leaders worldwide adjusted to the New Normal and the realities of VUCA — volatility, uncertainty, complexity and ambiguity. Evidence of the transformation abounds in the aftermath of the Great Recession. Yet many leaders who see the New Normal only as a financial phenomenon are missing the rest of the equation. The New Normal 2.0 also includes massive social, demographic and technological changes that have reshaped the world in recent years, creating opportunities for leaders willing to press forward with a deeper understanding of societal needs.
Few leaders have established a New Normal 2.0 framework that considers an integrated approach to financial, social, demographic, and technological changes.
Many organizations stuck in the New Normal will discover too late that survival mode is no longer good enough due to the multidimensional realities of the New Normal 2.0.
The following white paper discusses profound trends, provides a framework, and discusses the master disciplines needed to thrive during this historic time of change.