Future of Change in Business

It's fair to say that the business economy thrives on change; yet established companies fear it. Why, are they right, and how do we foster new ideas if change is shunned?

The one thing I can safely predict for the year ahead is that it will be a year of significant change. Whether we want that or not, isn’t up for debate.

Business now, is all about technology and if we want to be in business in five years’ time we have to become technology companies. That doesn’t mean we are selling tech products but simply changing all our processes to be executed digitally. Airbnb is a tech company in the accommodation business while Uber is a tech company in the taxi business – they sell completely different products but are totally digital in their approach. Air New Zealand has transitioned to that model too.

Our whole business needs to be immersed in the latest digital advances if we are to stay ahead of our competitors. Your younger staff want to be using the latest digital tools and they will choose to work for tech forward companies over backward ones. This means change throughout our company, from our supply chain to our marketing and all the way to the CEO’s presence on the internet.

January would be a good month to pause and examine where technology could be introduced to improve each department in the company.

People resist change and your staff are no different, therefore you need to involve them every step of the way. Your employees should be part of the planning process for them to become fully committed to the company transformation. Some of your staff will surprise you with their tech knowledge and they will come up with some great suggestions. They will point out some of the flaws in your thinking, as well. Getting your staff involved at all levels will ensure a buy-in to the whole change process.

A complete peeling back of what and why the company performs each process is needed. It’s really a breaking down of each area of the company then rebuilding it, to incorporate the latest digital tools. It’s a destruction first, in order to build a new construction. In fact, you are building a new company – a tech company.

To achieve the best results, you need a specialist to guide you through the process. The best person we have discovered in the South Island is Hamish Duff who has advanced knowledge in all things digital as well as having an expert business acumen – as well as an MSC, he has completed an MBA.

Visit his website: recalibrate.co.nz.

The companies who are prepared to go through this process will be the winners of the future. As the Singularity University says: Uber yourself before you get Kodak’ed.

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