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Today’s world, as never before, is characterized by Volatility, Uncertainty, Complexity and Ambiguity. The acronym to define it is VUCA.
We are in the creative economy that is replacing the industrial economy, and as much emphasis must now be placed on exploration (Exploration) as has been placed on efficiency (Exploitation) up to now. It is an art to be able to balance these two perspectives of business development, and those who can do so gain a great competitive advantage.
The Cynefin model can guide us to understand the situation in which we find ourselves, what behaviors to adopt, and to understand where, within it, new product development lies.
All of this has a huge impact on how products are developed and the speed required.
