Intervening in complex market systems requires understanding how a market is changing over time and having internal processes to gather and make sense of those changes. To do this effectively is known as managing ‘adaptively.’ This How to! note describes MarketMakers' approach to adaptive management. The project implements through distributed regional development agencies, thus making a free-flow of real-time information and quick decisions crucial to programme success.
MarketMaker’s approach to managing adaptively draws on four pillars:
- The collection and interpretation of useful data using informal channels
- Translating this data into real-time decision-making
- An organisational culture that values risk-taking and ‘safe to fail’ spaces
- High-trust, communicative relationships with SDC and programme partners.
This ‘How to!’ note, is one of a series in which practitioners share technical information about how to tackle a commonly met challenge in market systems development. If you would like to share your own ‘How to!’ note, please contact email@example.com.