Companies will have to re-invent everything they do to remain competitive in the fast approaching technology driven business environment.
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In the next 5 years, technology will change faster than it did the previous 20 years. Therefore, I believe that innovation will be replaced by total disruption.
Everything we do and how we think we should do in our business will be disrupted and therefore will change.
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The worse thing is that we cannot plan long-term for this because the rate of change from now on will be so fast and this rate will continue and there will never be a constant that we can say ‘now we can get used to the new world’.
Embracing ways to do business better
Every business in every industry will be disrupted. Although we might be slightly behind the rest of the first world, it seems Africa has skipped a step and is moving faster than ever into technological aspect of business if for nothing else but to catch up.
Business leaders, employees, etc. will have to constantly re-invent the way they do their work, constantly embracing ways to do it better and quicker and how can technology be used to make the company serve their customers, staff and the planet better. Innovation will be ongoing and almost daily.
For many businesses this will be a culture change and a different way to do business. Managers and business leaders will have to accept they do not have all the answers but they have to ensure that they know they are asking the right questions.
With so much information available, managers that are able to deal with massive amounts of information and more important, who is able to simplify for their companies, will be in high demand.
How can you innovate to stay ahead?
In a business environment where it is expected that people and planet is the biggest stakeholders, the most important question for business leaders and managers is to ask themselves how they can innovate and change their business, this means every system, process, product and team to focus on the environment and communities.
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This is a new way of thinking in business but the rest of the world is already doing it. In SA the team that will do this first will be the ones that drive their brands and business into the next massive growth phase.