MA

The Millennium Alliance is an invitation-only organization for Senior-Level Executives and Business Transformers.

212-256-9890
Generic selectors
Exact matches only
Search in title
Search in content
Search in posts
Search in pages

Can Innovation Be Just Too Darn Fast?

  • By admin
  • in
  • on October 11, 2018

Article previously posted on Psychology Today. 

Today’s world is defined by change. Advances in technology, consumer empowerment, and instant gratification are just some of the moving parts of life that are pushing us to a new reality. But a 2017 survey in Fortune suggests that part of the roller coaster ride of innovation—the speed of technological change—is the highest rated concern. The other top concerns included cybersecurity, regulations and sourcing talent. Change, at the speed of life, is the rallying cry of business. But there might be a bit more to the story.

Think about that for a moment—a rapid moment. Of all the concerns that deluge top CEOs, the speed of technology change is on the top of the list. Now, take a breath and think about that for a moment. One of the most common commands barked by senior management—”I WANT IT NOW”—may actually reflect one of their biggest fears!

These days, we all hear terms like “pivot” and “fail fast” as part of the business lexicon. However, this survey seems to indicate that “fast might” just might yield a greater level of concern in the context of growth and innovation. That old linear rate of growth provides an expected and comfortable path to success. But today, exponential change shifts the line to an uncomfortable “slope of concern” that strikes both amazement and fear in the boardroom.

The fear of change even has a name: metathesiophobia. The origin of the word “meta”  is change and phobos means fear. But I think that we need to expand the term and create some new. I suggest hypermetathesiophobia: the fear of rapid change.

Today, innovation requires a shift from the status quo—a push or disruption from the comfort of predictability. That’s tolerable to most. But the roller coaster of innovation offers up a velocity that might result in a “knee-jerk” stomp on the breaks. And that’s not innovation, it’s just fear.

The rate of innovation over can be expressed as dINNOVATION/dt, (dI/dt) or the first derivative of innovation. The instantaneous change (or slope) at any given point on the innovation curve can help define “white knuckle” changes that might disrupt the process itself.

Rapid change (a high dI/dt) is what many in businesses seek. But the reality is that the rate of change must be a function of both person and process. Driving innovation, but pushing people out of their comfort zone (from entry level to CEO) can result in the disruption of a goal intended to be a disruption itself. And pushing methodological systems faster than established functionality and validation can result in a similar catastrophe.

The simple reality is that change is complex. Some are uncontrolled and driven by unseen and unplanned market forces. Yet others are well within our control. The instillation of innovation must be modulated to address existing “fear” factors and let all the stakeholders enjoy the inevitable ride.

ABOUT DIGITAL HEALTHCARE TRANSFORMATION

Event Banner CDOH4 - 300x300 (1)

The Millennium Alliance is pleased to announce that application for our Digital Healthcare Transformation Assembly is now open! Seats are reserved for the C-Level executives leading the digital healthcare revolution.

Healthcare is changing. The need for customer-centric transformation is more vital than ever, to be open and transparent to patients as they navigate new policies. Healthcare systems and insurance carriers are being forced to respond to new demand rapidly.

Download the sponsorship prospectus for more information>> 

Leave a Reply

PUBLISHED BY admin

Jenny Schecher is a Client Services Director & Social Media Manager at The Millennium Alliance. Jenny is an avid contributor to our blog, Digital Diary, as well as all social media platforms. When she is not writing about digital transformation and technology, she is working with her team to make visions come to life at our events. (and eating all of NYC's best food.) Follow her on Instagram: @jennyschecs or find her on LinkedIn!

View all posts by admin

Related Posts

Retail , Technology

The True Cost of the Last Mile

As a result of Amazon’s impact, customers expect increasingly frequent & fast deliveries, and by all means, this has affected a number of industries thanks to their dominance in a variety of product categories. The main challenge in the fulfillment of delivery expectations is the crucial “last mile”- defined by Capgemini Research Institute as “the […]

Digital , Technology

Women in Data’s Latest Diversity Research Report

If you play a role in hiring for your organization, we value your input. The Millennium Alliance is partnering with UC Davis Graduate School of Management and Women in Data, a non-profit with a mission to increase diversity in data careers. A survey is being conducted in order to understand how companies view and approach […]

Technology

Why So Many High-Profile Digital Transformations Fail

How do smart, experienced leaders make decisions that don’t look so smart in hindsight? They made the investments, they got a lot of exciting feedback from their digital leaders and from the press, they increased the investments, and the cycle repeated. However, while their companies had plenty of resources, the big digital bets did not […]

News , Technology

The Millennium Alliance Adds New Tech Giants to Already Impressive Enterprise List of Customers by Coming to Terms with Oracle, Verizon & Microsoft

NEW YORK – November 4, 2019 – The Millennium Alliance, an invitation-only organization for Senior-Level Executives and Business Transformers, today announced a few of their latest 2020 partnerships with some of North America’s most successful companies. Since being recognized this summer as No. 2375 on Inc. Magazine’s annual Inc. 5000 list, the most prestigious ranking […]

Lovin’ Digital Diary?

Premium content to our readers interested in all things business.

Check Us Out!

Millennium Membership offers Fortune 1000 C-Level executives, leading public sector/government officials, and thought leaders across a variety of disciplines unique and exclusive opportunities to meet their peers, understand industry developments, and receive introductions to new technology and service advancements to help grow their career and overall company value.

About Millenium Alliance Next

About Digital Diary

Created to provide premium content to our readers interested in all things business.

Launched in 2017, Digital Diary was created to provide premium content to our readers interested in all things business. With our blogs catered to deliver the top news stories, trends, and interviews from across all industries.

Read all story Next

Interested in Millennium Membership?
Find out if you qualify here.