Companies are dying younger. This alarming fact can be found in the latest Harvard Business Review (January February 2016). HBR did research on the longevity of ± 30,000 public firms. The age of a company delisted in 1970 was almost 55 years. In 2010 the life span shrank to 31.6. The magazine concludes that "Public companies have a one in three chance of being delisted in the next five years". The main reason? It’s more and more difficult for companies to adapt to the growing complexity of their business environment that is often "harsher, less predictable and more malleable than classic environments".
The mind map lists 7 solutions to combat complexity (the solutions come form different sources among others HBR, McKinsey and Ivey Business Journal). I think the map speaks for itself. It would be interesting for you as a reader (either being a business owner or an employee working in a company) to check how many of the solutions are implemented in your company or at the least are in the picture?
*Download this mind map from the following link: Dealing with complexity.
To pick out one of my favorite topics, I am always shocked to notice that so few companies I know have the relevant data to support decisions and to reduce uncertainty (check first branch in mind map). And if they have, means to order the data, give meaning to them and translate them into actions. And mind you, as I know from my daily business, mind mapping is a very apt technique to do just that. What is the incentive if you do? Survival.
About the author
Hans Buskes is a business consultant, marketing communications manager and mind mapper. He's author of several mind map books and mind map blogger on Mastermindmaps.