Forecasting the impact of new technology on long-term business plans is a minefield for any major company. For every internet-sized revolution, there’s a Segway-shaped failure waiting round the corner.
The concept of change has become so powerful that it elects politicians – and so pervasive that no business leader could impress investors by extolling the virtues of the status quo. Yet while driving change is a constant preoccupation for most CEOs, relatively few change management programs succeed.
Next time someone tells you investing in business intelligence is a waste of money, tell them the story of J.P. Morgan chairman and CEO Jamie Dimon. In October 2006, Dimon decided that the bank’s growing business in securitizing sub-prime mortgages “could go up in smoke” and pulled out of the market when it seemed to be booming.