“We didn’t do anything wrong, but somehow, we lost”. Nokia CEO Stephen Elop ended his speech saying the above statement back in 2013, when Microsoft bought Nokia for 8 Billion USD.
If you try to decipher that statement, then you'll know what he meant actually.
At one point Nokia was known in the industry for a certain kind of arrogance which prevented them from learning from the outside world: “We are Nokia we have all the engineering know-how in-house!”
At that point Nokia confused “knowing” with “learning”. Learning Agility is not an option
However, in today’s fast moving world it is no longer about “knowing”. Market dynamics, technology and regulations change so quickly that knowledge about how things used to work is increasingly marginalized in importance.
At times it can even be counterproductive. In fact, in fast-changing times “learning” is not an option anymore. It does no longer just separate the good from the average companies, it has become a question of mere survival.
If you are not leaving your comfort zone to try out something new, to feel clumsy, lose performance or even fail then you are most certainly setting yourself up for failure in the long run.
This is true for companies as well as it is for their leaders. It’s not wrong if you don’t want to learn new things. However, if your thoughts and mindset cannot catch up with time, you will be eliminated.
The reason for ones failure could be :
Lack of Adaptability & Creativity often leads to miserable failure in life!
PS: If you change nothing, nothing will change you!
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