The cost of failure
Yet the learning
How to Derisk Change
Elliot Cohen identified three modes of military failure that can translate to business strategy:
failure to learn,
failure to anticipate and
failure to adapt.
With accelerating rates of change we see repeated examples of aggregate and catastrophic failure (when two or three of these factors are concurrent) - Kodak and Nokia are just two examples.
Most organisations have a strategy and innovate, yet most never realise their potential due to incomplete testing and failure to diligently implement.
Research suggests that a minimum 67% (and up to 90%) of well-formulated strategies failed due to poor execution and more than 90% of business improvement investments fall short of expectations. Unprepared leaders and rapidly changing business environments are cited as primary causes.
Science shows us people and organisations learn best through trial and error - through iterative failure. The business world can’t afford this type of learning.
We partner with WTRI to help organisations to accelerate successful strategy realisation. Our virtual world rehearsal approach releases the capability of leaders and teams, uncovers innate talent, encourages creativity and fosters discretionary effort.
Strategic plans and business improvement initiatives succeed after rehearsal within a FutureView virtual world because leaders and their teams learn, anticipate and adapt in an environment where it is safe to take risks and learn from failure and success. The risk is virtual, the cost of failure is virtual and yet the learning is real and when bought back to, and applied in the real world, drives business performance improvement transformations.
Rehearsal of Business Strategies and M&A
The Dynamic Strategic Modeller is a long-range strategic planning tool (virtual world platform) that models the impact of strategic decisions in terms of precise financial outcomes for bullet-proof deployment.
Rehearsal of High Stake Contexts
The FutureView Rehearsal is game-based learning in a virtual world platform that accelerates new technology deployment, the development of expertise for high stake, complex and difficult-to-train activities or solve ‘wicked’ problems without the cost of 'trial and error' in the real world.
Collaborative games allow our client employees to experience how their business operates today and how it will transform in the future. The virtual world experiences deliver a fundamental change to the way the business thinks and operates, enabling teams to innovate and perform.
By enabling people to test the consequences of their strategies and ideas they gain a rapid understanding of what works and the commercial consequences. This understanding can be transferred to the real world day to day work environment, building more effective strategies and accelerating their implementation, allowing people to learn, anticipate and adapt to tomorrow, today.