Exponential Organizations', has been the main topic of the two workshops that WiderPool organized last month with partners OpenExO and CIONET. Francisco Palao, Vice Chairman at OpenExO, run in Madrid and Mexico City the two full-day workshops for more than 50 CIOs and IT Managers in total. During both sessions, he shared his knowledge and experience about the emergent class of business, the Exponential Organizations.
The World Economic Forum has called the current period we are living in The Fourth Industrial Revolution, as digital technologies are now changing at a faster pace than ever due to their exponential nature. At the same time, the rise of exponential technologies is generating an abundance of everything. Peter Diamandis and Steven Kotler describe this very well in Abundance.
This new abundance-based context is already threatening existing business models, but the good news is that these exponential technologies also provide new opportunities to everyone and ExOs start to arise.
ExOs or Exponential Organizations are purpose-driven entities that leverage new exponential technologies and a set of common attributes that allow them to tap into and manage abundance to scale exponentially as technology does.
Francisco Palao presents the agenda of the Workshop in Madrid, Spain
During the workshops in Madrid and Mexico City, Palao provided the assistants with the steps and assets to take advantage of existing opportunities and start the transformation of their businesses into the exponential organization.
Components such as MTP, SCALE and IDEAS make up an ExO
The participants learned that ExOs have a Massive, Transformative Purpose (MTP) and ten organizational attributes in common. Five are external characteristics: Staff on Demand, Community and Crowd, Leveraged Assets, Algorithms & Engagement (contracting to the acronym SCALE) and five are internal tools such as: Interfaces, Dashboards, Experimentation, Autonomy and Social Technologies (which shrink to IDEAS).
After the change of mindset and the training with the Vice Chairman of OpenExO, the participants started the experimentation time where they applied on a case study all the practical steps and knowledge acquired during the workshop.
Assistants at the workshop in Mexico City