Human knowledge, on average, is doubling every 12 hours. In context, in 1900, human knowledge doubled approximately every 100 years. By the end of 1945, the rate was every 25 years.
In a world where the volume of information is growing at this rate, continuous learning has emerged as the new competitive advantage. In today’s highly competitive landscape, staying ahead requires adaptability and innovation. Is your organisation prepared to thrive in these dynamic times? Let’s explore the power of continuous learning through a real-life example and discover actionable steps to foster agility within your organisation.
M-Pesa, a mobile phone-based money transfer and payment service, is a remarkable example of an African success story built on continuous learning and innovation. Launched in Kenya in 2007 by Vodafone subsidiary Safaricom, M-Pesa revolutionised how African people handle financial transactions, particularly in areas with limited access to traditional banking.
Here’s how M-Pesa’s commitment to continuous learning and innovation has transformed the financial landscape:
Understanding Local Needs
The creators recognised the unique challenges many Africans face in accessing banking services. They tailored their service to address these needs, allowing users to send and receive money, pay bills, and access other financial services through mobile phones.
They didn’t stop at their initial success in Kenya. The company expanded its services to multiple African countries, including Tanzania, Uganda, and Ethiopia, adapting to each market’s specific needs and regulations.
Collaboration and Partnerships
They collaborated with local businesses, governments, and NGOs to create a robust financial services ecosystem. This approach allowed them to leverage local expertise and resources.
The company constantly listens to user feedback to improve its services. They introduced features like interest-earning savings accounts and microloans to cater to the evolving needs of their customers.
Adapting to Technology
They have evolved with technology trends, allowing users to access their services through smartphones and feature phones. They also embraced biometric authentication for enhanced security.
What Can We Learn? The key lesson here is agility. To become a more agile organisation, here are some actionable steps to consider:
Understand the unique needs of your target market and tailor your products or services accordingly.
Don’t limit yourself to one market. Explore expansion opportunities and adapt to the specific needs of each region.
Collaborate with local businesses, organisations, and governments to build a supportive ecosystem for your offerings.
Innovation through Feedback
Actively seek and implement customer feedback to enhance your products or services. Stay attuned to technological advancements and adapt accordingly.
Make your offerings accessible to a broader audience by accommodating various devices and technologies.
In today’s fast-paced world, continuous learning and agility are paramount for organisations striving to remain competitive and innovative. To thrive in these challenging times, adopt a customer-centric approach, explore opportunities for expansion, foster collaborations, innovate through feedback, and ensure accessibility.
By embracing continuous learning and fostering a culture of innovation, your organisation can confidently navigate the ever-evolving market.
Are you ready to leap into organisational agility through continuous learning and innovation? Contact eSTUDY today.