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1. Embrace volatility: Instead of trying to avoid uncertainty and shocks, use them to your advantage. They can lead to innovation and growth.
2. Trial and error: Like the technologists of the Industrial Revolution, don't be afraid to experiment. Success often comes from learning from failures.
3. Decentralize: Avoid putting all your eggs in one basket. Diversify your investments, projects, or strategies to reduce risk.
4. Be adaptable: In an unpredictable world, the ability to adapt is more important than being efficient or optimized.
Question was asked on:
The Industrial Revolution was not triggered by science. Rather, the main sources of knowledge and technical innovation in Britain in the nineteenth century were the hobbyist and the rector, in other words, enlightened amateurs. The Revolution was the result of technologists building technology, like John Kay inventing the flying shuttle in 1733; an empirical development based on the trial, error, and experimentation of a skilled craftsman.
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Have you seen great ideas or apparently-solid organizations fail because of some random event or unexpected shock? Does your organization spend signif...
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