Over the past two decades, business leaders have been confronted with a great deal of upheaval and uncertainty. The COVID-19 pandemic is but the most recent of such events; organizations have also contended with a global financial crisis, significant technological changes, and major political-economic developments, including Brexit and trade wars, thus far in the 21st century. In the future, challenges such as social unrest driven by income inequality, and severe weather caused by climate change, are predicted to cause even more chaos.
These events all signal a much more dynamic environment for business. Yet many of today’s organizational practices and processes were created for comparatively predictable and stable circumstances, with the goal of optimizing long-term efficiency and effectiveness. Recent developments have revealed that many of these practices are ill suited to today’s unpredictable and volatile times. The popular expression “the new normal” describes exactly that — an era characterized by uncertainty that needs to be met with new organizational perspectives and practices.