The disruptions caused by change, particularly change that is technology related, mean that a business will repeatedly encounter unprecedented situations, for example, blockchain, which was perhaps unimaginable a decade ago. It can be a threat or an opportunity, depending on how a bank deals with it.

An enterprise must have the culture of innovation, if it is to spot and also create opportunities that a changing environment presents. Innovation can come only from experimentation. To foster a culture of innovation, the business should encourage people to stay away from the "we have always done it this way" mindset and more toward a culture of trying something new.

However, risk and experimentation go together, and if risk is not understood and contained, it can be disastrous for the company. The Ford Edsel car is a classic case study in this regard. Ford wanted to develop a premium car for middle class Americans. Ford was so confident about the car that it planned to introduce 18 variants of the car at launch. At launch, the car was too expensive, was a "gas guzzler," and was mocked in the press. Ford had to write off $350 million for this failure, which in today's terms is close to $3 billion.

Some ideas can be just ahead of their time (for example, the Newton MessagePad introduced in the early 1990s) while the customers may simply not like some ideas (for example, Crystal Pepsi). From an enterprise perspective, there are two takeaways: 1) it's important to get feedback as early as possible to know whether something should move forward or should be stopped, and 2) risks should be taken only to the extent where it is possible to recover quickly from failure and ensure that the risk does not prove fatal for the company. In summary, an enterprise must strive to strike that fine balance between order and chaos, as too much order impedes agility and chaos destroys agility.