Adaptive System Design for Dynamic Market Environments

Dynamic markets have multiple fast innovation cycles, strong uncertainty, and complex patterns of task execution. The proliferation of powerful and affordable computing devices, networking and user-centric co-creation technologies fosters service innovation, customer engagement and market entry of smaller companies. In parallel, service innovation also reduces multi-day delivery cycles to mere seconds. These factors necessitate the development of an adaptive system that can withstand a dynamic market environment. It should evolve to confront recurring change, fulfill critical customer needs during change, anticipate the meaningful impact of important change, or simply apply a fleeting success pattern to a new domain. Addressing the complex, volatile, uncertain and ambiguous nature of extreme dynamic markets requires satisfying different stakeholder needs, identifying a broader set of success criteria and acquiring additional capabilities. Adaptivity enables responding to problems of seasonal, oscillating or random nature. Problem areas and specific objectives are analyzed to provide market-validated start points for adaptive system design.