Exponential Organizations talks about companies whose impact is more than their peers, and their perspective is different from others.
Moore's Law
Moore's Law fundamentally expresses that the performance of computation will double about every eighteen months. It has been true for the last 60 years. will twofold about like clockwork. This has remained constant throughout the previous sixty years.
Ray Kurzweil saw an intriguing conclusion to this law, that the doubling pattern applies to any and all information technology. When one shifts to an information-based environment, the pace of development moves towards an exponential growth curve. This is similar to Moore’s Law.
The test in the business climate is that most specialists will project growth linearly in times of exponential change in the environment.
Massive Transformative Purpose (MTP)
One basic finding in every one of the Exponential Organizations was the presence of a Massive Transformative Purpose (MTP), or the aspirational purpose. For example, Google whose MTP can be identified as organizing the world’s information. How will you create movement around the work you do?
SCALE : external characteristics
S: Staff on demand
Freelancers, contractors and other forms of external staff
C: Community and crowd
Use your MTP to engage members, and let them find you according to their interests.
Build your community.
A: Algorithms
What do you think is the future of business and startups?
Machine learning and Deep learning- the 2 types of algorithms.
This is the key behind business growth.
Machine Learning can be referred to as the use and development of computer systems that are able to learn and adapt without following explicit instructions, by using algorithms and statistical models to analyse and draw inferences from patterns in data. It is a part of artificial intelligence.
Deep Learning is a type of machine learning and artificial intelligence (AI) that imitates the way humans gain certain types of knowledge. It allows a machine to discover new patterns without being exposed to any historical or training data.
L: Leveraged assets
The key is to own the functions that are critical for your business, outsource the other functions.
E: Engagement
Engage all your stakeholders by making use of engagement programs which provide instant feedback and are transparent.
IDEAS: internal characteristics
I: Interfaces
It is important to have the correct match of interface for the exponential organization to scale effectively.
D: Dashboards
In order to measure and manage operations of the organization, a dashboard is helpful in accessing essential employee metrics and company information in one place.
E: Experimentation
Understand the needs of prospects and clients, and make a plan about how those needs can be met. Conduct an experiment for your plan to see how it works out and whether that satisfies their needs.
A: Autonomy
Provide your employees with the time and freedom to perform their tasks in the best way possible.
S: Social technologies
Make use of the community you built to get ideas and transform them into reality.
According to Salim Ismail, there are seven key elements for social technologies: social objects, activity streams, task management, file sharing, telepresence, virtual worlds and emotional sensing.