In my last post I talked about the ever-increasing complexity that seems to creep into our lives and our businesses. But there’s one common thread that runs thru all of it. Take note of it if you haven’t already. Most of the “change” is due to the increase in the flow of information we now have at our disposal. I am here to tell you that the flip side of the increasing volume and complexity of information flow— that you’re trying hard to comprehend—is greater transparency and accountability. In other words, when there’s more access (to your information, as well as others) there’s naturally more exposure and responsibility that goes along with it. So “Greater transparency and accountability” is my subject in this post and it is part 4 of the 5-part Material Insights series titled “Four forces of change,” a concept borrowed from an inspiring book titled “Flip—How to Turn Everything You Know on Its Head—and Succeed Beyond Your Wildest Imaginings” by Peter Sheahan. Please read on.
The Four Forces of Change:
#3. Greater transparency and accountability: be informed
Remember, the point of focusing on four odd “forces of change” that formerly weren’t on the radar is to get a grasp on the new rules for the way business will be done in the near future. For that matter, and with respect to transparency and accountability, it should be a wake up call for how business can get undone right now. Believe me, if the new rulebooks haven’t arrived yet, they soon will. Ignoring change (and hanging on to the status quo) could lead to danger faster than it may have done 10 to 15 years ago. A new connected world calls for a more informed, open and positive outlook.
Reason one:
Transparency offers new perspectives.
What do I mean by “new connected world”? Your customers and your future prospects will now intuitively seek out information about you, your methods, your competition, and your pricing to name a few of the possibilities. They’ll do it right now, and they will do it in the palm of their hand with a Smartphone, wherever they happen to be.
Information technology puts the power to obtain and share data in the hands of the individual. Therefore, the constant upswell in information, misinformation, complexity and confusion offers few favors. Your ability to protect proprietary knowledge, competitive advantage or hide mistakes or misdeeds is well over. But on the other hand you have the same access to information. Use it to learn about your competitors’ weaknesses, your customers’ challenges, and the outside perception of your own company while you’re at it!
Reason two:
Accountability is at your door.
Accountability is being forced onto your business like never before. Sheahan sees three dimensions to this challenge, briefly:
- “Top-down accountability”—Due to the swell of information and data, governing bodies will increasingly force businesses to be more accountable for their behavior as it relates to the environment. (They will be motivated to protect themselves (individually) from the same exposure.)
- “Lateral accountability”—Having competitors gives your customers the ability to “talk with their feet” when they don’t feel your love or they don’t feel that you’re “meeting their increasingly intangible and constantly changing desires.”
- “Bottom-up accountability”—There’s always a chance that a person with too much time on their hands—and powered by word of mouse—triggers a public relations issue or even a small uprising. These things can challenge even the best of reputations.
Accountability at your door? I’d suggest you answer it.
INSIGHT:
None of these issues should be feared. Instead, a simple dose of pragmatism could help you realize an extraordinary idea. This is fuzzy stuff for everyone and action will lead you to clarity faster than any other remedy. Learn to ride the waves of change and have fun doing it.
My inspiration is yours. The central idea, “The Four Forces of Change,” as well as some explicit excerpts used in this post, is derived from a book titled “Flip—How to Turn Everything You Know on Its Head—and Succeed Beyond Your Wildest Imaginings” by Peter Sheahan. It’s the kind of book you will read more than once, as I did. I highly recommend it.
I welcome your comments, questions or more discussion.