Business Mandate (March 2021)

Page 39

Business Mandate fountainhead of excellence

“If you want to go fast, go alone. If you want to go far, go together.” ­ African Proverb

M

odern businesses are driven through teams. Readers would recall that

there was an era when businesses revolved around talented individuals. Thanks to factors such as the rise of knowledge economy, globalisation, free availability of information, and high­ velocity of information flow, the yesteryear philosophy of businesses revolving around heroic, talented individuals is slowly diminishing. The VUCA nature of the world, for which the ongoing COVID­19 pandemic is a very appropriate example, has further accentuated this. VUCA, for those who are unfamiliar, is anacronym that stands for Volatility, Uncertainty, Complexity and Ambiguity, and alludes to the character of the current day business environment. ‘Why teams?’ is an obvious question that merits discussion. Modern knowledge­driven businesses are intensely specialised. The vast knowledge spread across multiple domains, high information volumes, as well as high velocity and cadence of actions, is all beyond the grasp of a single individual. Add to this, the crucial

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