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The Age of Turbulence

January 15th, 2010 · Add Comment

According to Philip Kotler, the member of “Thinkers 50” list of the world’s top management thinkers, we have entered into an Age of Turbulence. This is resulting from the global interconnectedness of countries and supply chains. “Nowadays, one country can sneeze and everyone else gets a cold, which is exactly what happened with the recent financial meltdown. Two key factors – globalization and digitization – are amongst the elements that feed into this idea of increased turbulence and fragility… Unfortunately there is no end in sight… ” said Kotler in his recent interview in Winter 2010 edition of Rotman magazine.

How should we defend from such disruptions / turbulence. According to Kotler, the companies should use three tools:
– Developing early warning systems
– Scenario planning
– Flexible budgeting

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