From the course: Foundations of the Fourth Industrial Revolution (Industry 4.0)

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Taking action: Organizations

Taking action: Organizations

From the course: Foundations of the Fourth Industrial Revolution (Industry 4.0)

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Taking action: Organizations

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- In 1958 on the Fortune 500 list, an annual list of the most profitable US industrial corporations, companies remained there for an average of 61 years. Today, the average is just 18 years. In the UK, of the top 100 organizations listed in 1984 on the FTSE 100 Index, a listing of the largest UK organizations by market capitalization, only 28 remain today. Without evolving, organizational relevancy is increasingly fleeting. Competition is global and rigorous. Innovation is swift. We've known this for some time, but the fourth industrial revolution accelerates all of this. So what actions should an organization take to continue to thrive? Let's acknowledge there are many models for anticipating and responding to change of all kinds, but I'd like to explore the topic through the lens of risk. Simply put, a risk is the possibility of an adverse outcome happening that deviates from what is expected. Risk doesn't mean…

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