In 1961, the life expectancy of a company in the Fortune 500 was around 61 years. Now it’s less than 18. Only 12.2% of Fortune 500 companies in 1955 were still on the list in 2014. So what does it take to survive in such a fast-changing world?
Leaders are calling for people to innovate, take intelligent risks and ‘fail fast.’ At the same time, organizations are driving towards being leaner, flatter and more efficient. The challenge is that this focus on efficiency comes with a greater demand on compliance and process adherence, which reduces a team’s opportunity to innovate and take risks. But these two interests need...
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