In a world that seems to change faster than ever, planning five or ten years ahead may no longer work the way it once did. Instead, individuals and businesses need to adapt quickly and move forward one step at a time.
Speaking at the India Today Conclave 2026, Christina M Wallace, Senior Lecturer of Business Administration in the Entrepreneurial Management Unit at Harvard Business School, said uncertainty has become a defining feature of modern life and business.
She explained that earlier generations experienced major world events once in a decade or so, but the pace of change today feels dramatically different. “Our parents’ generation had world-altering moments every decade or every generation. Now it feels like it’s every few hours,” Wallace said.
ENTREPRENEURSHIP IS ABOUT JUDGEMENT UNDER UNCERTAINTY
According to Wallace, entrepreneurship is essentially about pursuing opportunities even when resources or outcomes are unclear. She described it as a mindset that encourages people to act despite uncertainty rather than wait for perfect clarity.
“Entrepreneurship is the pursuit of opportunity without regard for resources currently controlled,” she said. “It really teaches judgement under uncertainty.”
Wallace added that the belief that people can plan their careers or businesses far into the future is slowly breaking down. “The idea that you can plan five or ten years out is what’s broken,” she said.
FROM RIGID PLANS TO FLEXIBLE STRATEGY
Wallace also spoke about a concept introduced by her mentor, the late Harvard professor Clay Christensen. He described two types of strategy, i.e., deliberate and emergent.
In a stable world, companies can use a deliberate strategy, where they know their customers, competitors and market direction. But in uncertain times, organisations must rely on what Christensen called an emergent strategy.
“Emergent strategy is not a map, it’s more like a compass,” Wallace said. “You take one step, assess what you learned, and then decide the next step.”
She said this approach is increasingly relevant in today’s fast-changing business environment.
IDENTITY BEYOND JOB TITLES
Wallace also spoke about how people often define themselves only through their job titles. This can become risky in a rapidly changing world where industries and roles evolve quickly.
She described herself as a “human Venn diagram”, someone whose interests and experiences sit at the intersection of business, technology and the arts. “If your identity is only tied to how you monetise your time, you can lose your identity and your job in the same moment,” she said.
Instead, Wallace encouraged people to think about the broader mix of skills, networks and experiences they bring into any situation.
RETHINKING WORK–LIFE BALANCE
Another idea Wallace shared was her concept of a “life portfolio”, inspired by financial portfolios. Just as investors spread money across different assets, individuals should allocate their time and energy across different parts of life.
These priorities may shift depending on the season of life. “There might be times when work is 70% of your focus, and other times when family needs to be 50%,” she explained.
She said people should review their goals regularly and ask themselves a simple but important question. “If I achieved all my goals but I’m not happy, then something needs to change.”
AI WILL CHANGE JOBS BUT NOT ELIMINATE CREATIVITY
Wallace also addressed concerns around artificial intelligence, which she said is already transforming many professions. However, she believes the biggest change will be in how jobs evolve rather than disappear.
For example, in fields like coding, AI can now handle routine tasks. But that does not eliminate the need for human expertise. “The work of engineers will shift more towards architecture and design,” she said.
STORYTELLING MAY BECOME THE MOST VALUABLE SKILL
One skill that Wallace believes will become even more important in the age of AI is storytelling. While machines can produce data and structured information, they struggle to capture human emotion and experiences.
“Storytelling is the last human job,” she said. “Entrepreneurship is about selling a vision and getting people to believe in it.”
She added that companies will increasingly need strong communication skills to explain where they are heading and why people should support their journey.
TAKING ACTION MATTERS MORE THAN PERFECTION
Wallace also advised entrepreneurs and young professionals not to become paralysed by the fear of making the wrong decision. Instead, she encouraged them to take small steps and learn from the results.
“If you stand still, you get no new information,” she said. “But if you take a step in any direction, you learn something.” For businesses as well, experimenting with new ideas on a small scale can be more effective than waiting endlessly for certainty.
USING AI AS A PARTNER, NOT A REPLACEMENT
While Wallace acknowledged the power of artificial intelligence, she advised people to treat it as a tool rather than a substitute for human thinking.
She said she often uses AI to handle repetitive tasks or to create rough drafts, but insists on starting the creative process herself. “My number one rule is that you don’t let AI write the first words for you,” she said.
According to Wallace, the real opportunity lies in combining human creativity with the efficiency of technology. As the world becomes more unpredictable, she believes adaptability, curiosity and strong storytelling will define the entrepreneurs and leaders of the future.
