Policies and practices within many firms have not changed, despite the fact that technological advancements have changed the speed of business and led to fundamental changes in the environment. As the new economy takes off, there are mental models that are ingrained in our thoughts and business cultures that have not evolved with the times. Numerous of these habits operate as resistance to change and soon take on symbolic meaning. Since it would be impossible to list them all here, let’s focus on a few key areas. Our labor demographics, business velocity, and work are all changing significantly. Even while many of the industrial era’s techniques may no longer be valid, they have permeated our work habits and self-made mental models about productivity, appearance, professionalism, and a fictitious connection to results. Success is gradually being stifled by these antiquated methods and regulations from the previous economic era. These are the causes of bad businesses.
- Hiring obsession with cultural fit
- Measuring in-office presence
- The annual performance evaluation chore
- Hierarchical leadership
- Consensus and input-based culture
- Formal dress codes
- Optimizing to withstand change and risk