Are you good at what you do? That’s fantastic - be proud of your achievements! However, in a rapidly changing world, overconfidence can be a significant pitfall. History has demonstrated the dangers of excelling at the wrong things, with companies like Nokia and Kodak serving as cautionary tales. It’s easy to judge others’ decisions in hindsight, but are you taking the time to question your own assumptions today? Excellence isn’t just about doing things well; it’s about consistently ensuring you’re doing the right things.
We've all heard stories about the accelerating rate of change urging action - they have been told for decades. For those who have managed to stay ahead of industry disruption, these warnings may now feel like empty threats, dulling their ability to recognize the scale of the fundamental shift happening today. Any lingering denial should be eliminated when comparing the staggering 183% increase in the rate of change between 2019 and 2023 with the relatively modest 5% increase between 2019 and 20201. This new story about acceleration that is unfolding is nothing like the old ones, and the transformation continues to gain momentum with advances in machine learning and generative AI. With this in mind, it’s easy to see how quickly the right thing can become the wrong thing today.
What's important to thrive in this new reality? First, we need to acknowledge that we’re not optimized for the world of our own creation. It’s easy to blame technology and AI for being automated and biased, but we humans have similar tendencies. Our brains operate on the premise that the world remains static - a strategy designed to conserve energy. We naturally hold on to assumptions and seek confirming evidence rather than challenging them, in what Adam Grant describes as the overconfidence cycle2. Blindly cycling through pride and conviction leads us to overlook early warning signs, causing us to miss valuable opportunities for growth and adaptation. Grant invites us to enter the rethinking cycle by intentionally building habits of healthy doubt, curiosity, and exploration. Like scientists, we need to look for evidence that rejects our hypotheses rather than evidence that confirms them.
However, the mere capability to rethink is not enough - we need to get the cycle spinning to realize its potential. Rethinking thrives in environments where psychological safety allows team members to share ideas, admit mistakes, and ask questions without fear of repercussions. It’s important to note that psychological safety isn’t about lowering performance standards, a common misconception. High levels of psychological safety should be paired with high demands - what Amy Edmondson calls the learning zone3. Unfortunately, many organizations are stuck in the anxiety zone, where high demands lack the necessary safety, causing people to hold back information. This effect doesn’t only apply to negative information; it also includes all the good ideas.
Learning zones are created by leaders who set clear expectations, demonstrate why employees' voices matter, and celebrate success as well as failure. These leaders emphasize accountability for the processes rather than the outcomes because they know that never failing is the greatest failure - it means that necessary risks have been avoided. Companies that shy away from experimenting with new technologies may achieve short-term stability but risk stagnation, ultimately missing crucial opportunities for innovation. To summarize, success in a rapidly changing world comes from generating new ideas and having the courage and structure to bring them to life.
From Rethinking to Results: Navigating Change with Knowit Insight
At Knowit Insight, we help our clients create the right conditions to do the right things. We prepare organizations for change and drive development by providing support in areas ranging from future studies and trend analysis to innovation and growth strategies. We assist in creating adaptive workflows that perform under pressure through process optimization and lean-agile coaching. Leveraging our deep expertise in digital transformation and AI strategy, we empower businesses to adopt cutting-edge technologies for long-term success.
Together, we challenge the status quo, reimagine what’s possible, and navigate toward sustainable success in a rapidly evolving world!
Curious to know more about what we can accomplish together? Reach out to me, and let us explore the possibilities!
Sources: 1. Ollagnier, J-M. (2024) Massive Change Is Affecting Business - Here's How Leaders Can Respond. Forbes Media. 2. Grant, A. (2023). Think Again. Ebury Publishing. 3. Edmondson, A. C. (2018). The Fearless Organisation. John Wiley Sons Inc.