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Dysfunctional Dinosaurs Must Embrace Innovation to Survive New Ecosystem
By Randy Smith,
Mobile Wallet Media
May 8, 2013
About Mobile Wallet Media
Mobile Wallet Media is a news media, analyst, marketing and consulting firm focused on the future of mobile: payments, marketing, loyalty commerce, security, prepaid, virtual currency, daily deals and the convergence of them all with social and local. The Chief Editor, Randy Smith, was the primary founder, inventor and former CEO of MobilePayUSA, a TechCrunch Disrupt Startup Alley Winner.
To prosper in a rapidly changing ecosystem, Dysfunctional Dinosaurs must replace their ‘Devour to Gain Power’ philosophy with 'Adapt or Die'.
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So what is a ‘Dysfunctional Dinosaur?’ Dysfunctional Dinosaurs are powerful people or organizations that are self-serving and destructive, sort of like Godzilla. They operate under a status quo philosophy, as if there are no real and looming threats. Yahoo and Blackberry are classic examples of former DD's (not saying current CEO's or companies are such) and we all suffer from a dysfunctional 2-party political system.
But what is a dinosaur to do? After all their brains are small and their size, appetite and strength are huge. Dinos were programmed to operate in a very simple way, to devour in order to grow larger in size and power. This works in a world where dinosaurs, or status quo leaders, can count on an environment that supports their massive size and power.
So let’s start by clarifying what a Dysfunctional Dino is and how they are programmed to behave. The greatest strength's of Dysfunctional Dinos are also their biggest weaknesses.
Top Five Strengths/Weaknesses of Dysfunctional Dino’s
1. DD's brains are programmed to devour to gain size and power, without thought or consideration of their actions or the sustainability thereof. DD's are driven to acquire wealth and power. This is like the commercial ocean fishing industry. There are limited fish, but DD's ignore such, as they continue to grab all the fish they can. The result is fewer surviving fishing firms and lower returns for the firms that do survive.
2. DD's have a high-level of social and emotional intelligence, but use this power of persuasion to head down non-viable or non-altruistic paths. Their fixed programming,
to devour and maintain power, works against them, unless they embrace sustainable innovation designed to serve everyone in the organization.
3. DD's have huge power and resources, but they must be replenished very often. Large organizations must exhaust big resources to maintain or gain size and power.
4. DD's have a track record of success, which fuels short-term grace for failures. This leads to a false sense of security, as non-sustainable behaviors, strategies or solutions are not identified as dysfunctional until the 2nd or 3rd waves of failure have doomed organization.
5. DD's are believed to have the best understanding of what will work, or not work, even in an ecosystem that is near collapse or is entirely new. DD's also falsely believe they have the best strategy and products or they lead as though they do, even when knowing they do not. This false or blind leadership is often mimicked by excutives, directors, investors, customers or citizens whom have like characteristics.
Three Realities of Corruptive, Disruptive Behavior of DD's
1. Programming & size of DD's is what works against them in quickly evolving ecosystem.
2. Even when DD’s collaborate to maintain behavior and power, they will inevitably perish or become irrelevant and cause extinction of the organization they were hired to serve.
3. Without solutions that enable survival for all contributing altruistically to an organization, DD's work against the goals of organization and drain resources from innovation, specifically innovators with viable solutions that would enable survival.
To prosper themselves and those they were hired to serve, Dysfunctional Dinos must replace their ‘Devour to Gain Power’ philosophy and evolve to embrace ‘Innovative Intelligence (next article) and Innovators.’ In doing so, they may compliment their abundance of ‘Emotional Intelligence.' If DD's fail to adopt altruistic innovation, 'Innovative Corruption' dominates.
The 'Disruptive Innovation Meteor' named MOBILE has struck the world's of retail payments, banking and marketing. Firms wanting to survive, compete and win in this new environment must adapt by embracing disruptive innovation or risk becoming irrelevant or extinct. Read story