Our love of technology is perhaps rivaled only by our fear of change. Every time technology advances, the ripple effect of change can cripple even the strongest companies. Development expert Patrick Forth notes that 75% of the Fortune 500 in 2020 will be names we’ve never heard of. Given this high rate of failure, how can large companies better channel change and continue to thrive? He gives five tips all businesses can learn from.
Patrick is a Senior Partner and Managing Director in the Sydney office. Previously, he opened and led BCG’s Singapore office and led BCG’s Australia and New Zealand business. He focuses on large-scale change in Technology, Media and Telecommunications companies. He is also on the Board of BCG Digital Ventures. Prior to joining BCG, Patrick obtained a First Class Honours degree in Aeronautical Engineering at Manchester University, followed by a doctorate in turbomachinery at Oxford University as a Rhodes Scholar. Prominent publications: “The Great Software Transformation” (with others, 2013); Borges’ Map; Strategy for the third wave of digital disruption (with Philip Evans; to be published shortly).
About the TED Institute: We know that innovative ideas and fresh approaches to challenging problems can be discovered inside visionary companies around the world. The TED Institute helps surface and share these insights. Every year, TED works with a group of select brands to identify internal ideators, inventors, connectors, and creators. Drawing on the same rigorous regimen that has prepared speakers for the TED main stage, TED Institute works closely with each partner, overseeing curation and providing intensive one-on-one talk development to sharpen and fine tune ideas.
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