The Global Economy Has Become Large Size, Breadth And Diversity

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The global economy has become massive in size, breadth and diversity. There are enormous opportunities but they are also fraught with complexity. The interconnectedness between fast growing and mature regions has vastly increased the complexity, number and range of stakeholder relationships that must be managed. Business complexity is increasing every day. Although initiating a business is easier than a decade ago, sustaining and growing a business is more difficult than ever. When you consider the last decades-leading organizations, some of them have already vanished or lost market share despite their large size. Some of today 's leading organizations may not exist in the next decade due to challenges in managing complexity. One of these…show more content…
“When you reduce complexity, you increase your ability to implement new solutions,” says André Mendes, CIO of the Special Olympics. “Complexity leads to brittleness and high costs,” notes Frank Modruson, CIO of Accenture. “But if you get your technology cleaner, you can serve the business more easily.” Today, all CIOs are standing in the path of a fire hose spewing complexity. And many are getting soaked. Within IT, factors that increase complexity include outsourcing management, the adoption of Web and consumer technologies, and support for mobile workforces, developing and managing technology architectures and governance for those workforces, and ensuring security in a distributed environment. Outside of IT’s direct control, complexity is increased by the requirements of compliance, the need to support global business, and the speed and depth of access to information demanded by your customers and your partners. Companies can with difficulty handle these challenges individually, one at a time. But in the real world companies face many, if not all, of these challenges, all at once, over and over. “That’s why you need a strategy to keep complexity out of the environment. The challenge of complexity is exacerbated by the fact that many
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