- Over the last year, businesses have been put to the test
and they found that their multi-year strategy and roadmaps
have been too rigid to handle the pace of change.
It goes beyond technological changes.
This time, it was about macroeconomic shifts.
Industries ranging from manufacturing and media
from education and retail to healthcare
are all feeling the impact of acceleration of political,
economic, social, and technological trends.
A quote from one senior executive says it all.
"We were blind to all of the external trends
that might actually impact our business."
A recent study found that 62% of CXOs
believe we'll see more disruption at scale.
And what does that mean to you?
That means that you need to be able to build
a resilient business.
A resilient business requires three primary characteristics.
One is a profound understanding of global trends.
The second is a focus on continual reinvention.
And third, a model that accelerates
all of those possibilities into one.
It really requires an understanding of how to create
an operating model for your business.
That's at the intersection
of sort of corporate strategy and technology.
It really is about your digital strategy.
It begins with digital transformation, and it's about data
at the center stage of that transformation.
It's about applying data and algorithms
and scrutinizing your company's strengths and weaknesses.
And of course, looking to spot potential market impacts.
It's about using models to look at workforce trends,
things like freelancing,
or things like shift to certifications instead of college,
and the skills needed to secure your future.
And of course, lastly, it's about applying algorithms
to the network of all your adjacent markets
and exploring the downstream impacts.
It also includes the end consumer.
Especially if you're in B2B,
we don't typically think about that.
Companies spend a lot of time manually gathering data
and doing predictions in spreadsheets.
That is better done by technology today.
Building a resilient business is about using data,
technology, and systems to create business outcomes,
support innovation, and raise productivity,
and yes, reduce costs.