The key for a successful transformation is to have the right Culture within the organization. People need to have ‘Growth” mindset instead of “Fixed” mindset.
The concept of “Growth” mindset is the openness to learn as you try out new things. Accepting the risk of failure while trying to explore the unknown is the cultural shift which is required. Unwillingness to take the risk would result in lack of innovation. Organizations with fixed mindset find it difficult to stay competitive. i.e Kodak which was once industry leader for cameras failed to stay competitive due to lack of “Growth” mindset in digital innovation. However, Netflix strengthened their position by being innovative and accepting the change.
Organizations need to focus on building the culture of innovation by empowering their people!!
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