Traditional strategy approaches need to change and become more adaptive. Companies aiming success for the long run need to embrace innovation and change. Over the past decade, the new technology giants like Google, Amazon, Facebook, and eBay, all surpassed $1 billion in annual sales within roughly 5 years of launch. They have adaptive strategies and algorithms, which self-tune to changing circumstances. Evolving algorithms allow these companies to thrive under conditions of high uncertainty and rapid change in their businesses.
Adaptive strategies need adaptive leaders, new generation leaders need to be able to navigate through this competitive and dynamic environment. They need to lead purpose and direction but also be willing to make midway corrections. Leaders need to empathize with people, understand perspectives different from their own, and build networks with people outside of their organization. Leaders need to be willing to self-correct, question the status quo, and foremost believe in win win with a greater vision of success.