The powerful art of forgetting

Fiona Smith Columnist

The powerful art of forgetting

Published 04 February 2014 10:12, Updated 04 February 2014 15:55

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You probably think you are pretty good atforgetting. I find it comes naturally, but others have to work at it.

Fortunately, for those of us who get around with expressions best described as befuddled, our skills at dropping memories into the trash can of oblivion become somewhat of a strength when it comes to dealing with change.

Former Disney futurist, Yvette Montero Salvatico, says the ability to learn, unlearn and relearn is becoming a core competency.

The unlearning process is important. If we refuse to let go of what we know when the knowledge is obsolete, it can interfere with our ability to keep up with the onslaught of change.

For example, we have all returned from holidays to find we have missed a few computer software upgrades and have to learn new ways to get things done. (Just last week, I came back to work – on the wrong floor – forgot my password and how to submit my expenses. See, I told you I was a natural.)

There is no point in remembering the redundant keyboard commands that worked before we went on our break – to do so would probably lead to confusion. We would always have that hesitation while we remembered which one we have to use now.

The same principle applies in other areas of work, when things change.

“The reality is that [existing knowledge] can become mental baggage and we have to figure out what to jettison. We need to let go of old data to accept new data,” says Montero Salvatico, on the phone from Florida.

When it comes to staying relevant at work, we need to understand that our knowledge is probably already out of date. Somewhere, someone is doing something that is about to change our world.

Says Montero Salvatico: “Everything you learn in your freshman year is obsolete by the time that you pick up your cap and gown when you graduate. What you learn needs to be retaught.”

Montero Salvatico is a principal in the US-based Kedge, a foresight, innovation, and strategic design firm, and she will be visiting Australia to speak at the inaugural Strategic Workforce Planning Conference, on March 26 in Melbourne.

When she was at the Walt Disney Company, Montero Salvatico led the effort to establish an internal area of strategic foresight expertise, dedicated to identifying future workforce trends and assessing their potential impact on human capital strategies.

Kodak moment

She says being a domain expert is not necessarily the pathway to relevance: “It is no longer about what you know, if you don’t know when things have changed. It is about having access to assets and knowledge.”

Montero Salvatico points to Kodak as an example of a company that was so expert in making film that it did not pay enough attention to the fact that digital devices were about to put it out of business.

“People couldn’t make sense of it,” she says. “Educational incapacity is something we all suffer from: knowing so much about what you do that you are the last to know when things change.

“I can give tons of examples – Polaroid, Sony Walkman – there was an inability to see those disrupters.”

Montero Salvatico says what many people don’t realise is disrupters tend to not come from the same industry that they are disrupting. “They come from outside your industries.”

 

Unknown's avatarAbout bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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