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As we battle out yet another covid wave and reflect upon the fundamental change that we witnessed in the past two years, we find the business side quite polarized!! While quite a few of the old economy firms continue to struggle, digital natives have blazed a trail in ways nobody could have imagined.

How much of this momentum will sustain over the next few years? – would be interesting to see. As for consumer behavior, well, that area remains fickle as ever. For sure, digital adoption has gone up, but consumers at large are keen to withdraw to their traditional ways, whenever and wherever convenient.

Amidst the incessant covid shenanigans, one aspect of life that we can’t overlook and won’t forget for a long time, is the velocity of change that we observed across all industry sectors and organizations during covid.

We discovered a completely new gear of change. This ‘Change Velocity’ that we experienced has never been seen before, possibly in human history.

Overnight, organizations across the globe went completely online and shifted to work from home way of functioning – something that most of them always considered impossible. The IT functions pivoted their operations in the wink of an eye to enable remote work and distance learning. Advanced online sales channels and new customer experiences followed closely behind.

This time it was not just about fast-tracking digital transformation of businesses; it was also a test of companies’ ability to get their customers and employees to embrace the change velocity. 

How can we continue to nurture and leverage this change velocity in the corporate world? Some thought starters…

By bringing a product to the market in weeks and not in years. While many large organizations have formed agile teams – they also need to learn to hit the market in a much shorter time frame like the new-age D2C companies have been able to do at ease. 

By adapting to continually evolving communication channels – Becoming more bold, authentic and even more vulnerable. A big change, we realized post the pandemic outbreak, was how leaders across the spectrum practiced to become more comfortable with video communication – something including yours truly has been shy about in the past!

By boldly experimenting with market tactics and constantly questioning the status quo. Getting products delivered in 10 mins sounded like a crazy idea just a couple of years ago, but now, not only is it possible, but billions of venture capital dollars are also backing this trend of Quick Commerce – that goes to show we never really know the disruption round the corner and need to constantly keep experimenting with our market and business model.

So, as and when the pandemic dust settles down,

  • Will we remember this ‘change velocity’ and utilize it again? or,
  • Will we move back to our comfort zone? 

And most importantly, do we really need such a catalyst to provoke our capabilities, and function at a much higher rate? 

Would love to hear your thoughts in the comments…

– Ravi Shankar (Funder & CEO, Decision Point)

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