Changing circumstances creates need of renewal
The technology development and digitalization are changing the face of the society. Frequent technology breakthroughs in combination with new driving forces creates continuous changing societal circumstances and new patterns of living. To stay relevant in these times, organizations need to renew themselves on a continuous basis. In our understanding, organizations can be viewed as organizers of value creation, thus organizations must find new ways to create value for their customers. Today, it is an absolute must to incorporate a digital business model to be able to provide customers with valuable digital experiences. Therefore, it is essential to rethink the business model and its mechanics to increase digital exploitation and improve value creation for customers.

Hierarchical organizational structures are becoming outdated
Early management theories and leadership frameworks were developed during the industrial revolution when organizations continuously grew larger and larger, which required structure. At the time this structure came in the form of a hierarchy with multiple layers of managers to control different organizational units and employees. Today, this type of hierarchy and structure is still in place in many organizations, where managers control its subordinates by telling them what to do and where decision-making is concentrated to managerial positions.

Is there a challenge related to having too much data? One, among many, interesting findings pointed out in one of the reports emerging from Knowit Insight’s ongoing collaboration with KTH (The Royal Institute of Technology in Stockholm) suggests that this is the case.