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Is your Organisation Ready to Compete in the Future?

Is your Organisation Ready to Compete in the Future?

July 18, 2018 by Stella Petrou Concha

While responding to a changing marketplace has always been important, for today’s organisations it is critical. Traditional business models have become far less effective, and it’s the digital disruptors who are now gaining a competitive edge.

To remain relevant, the leaders of consumer goods and retail companies need to swiftly adapt to the changing needs and expectations of their customers, employees and stakeholders. From utilising technology to corporate responsibility, the focus needs to be on so much more than simply making a profit.

The window for organisations to make the shift is now – so how do you transform your organisation to a business that is ready for the future? Here’s an overview of the key areas of focus.

Culture

It all starts with a change in mindset, and this needs to be felt from the boardroom down. In contrast to traditional corporate hierarchy, future leaders nurture a sense of purpose at all levels of the organisation. Individuals are encouraged to voice their ideas and contribute to business outcomes and strategies. This creates an inclusive culture, where workers are valued and empowered to continually learn and develop.

Agility

Modern organisations must be agile and have a keen awareness of the changing needs of their consumers. This requires insightful analytics and an operating model that is ready to swiftly adapt and evolve as the market changes. Many of today’s market leaders are lagging behind their digital counterparts in this area and must pick up the slack if they want to stay competitive.

Many of today’s market leaders are lagging behind their digital counterparts in this area and must pick up the slack if they want to stay competitive.

Technology

Technology and analytics can transform organisations on many levels. From improved productivity to driving innovation, the possibilities are immense. Understanding exactly where technology should be used to enhance your company is key. Not every function will benefit from digitalisation, and it’s important to be aware of the impact both financially and culturally before giving it the green light.

 

Collaboration

Working with others to achieve a shared goal will become more common, as organisations recognise the upside of mutually beneficial relationships. Forming networks that enable the sharing of data and accelerate the development of fresh ideas and new capabilities will be key to staying ahead of the game.

Business men shaking hands in agreement

Working with others to achieve a shared goal will become more common.

Talent

Organisations of the future value their employees and are prepared to manage recruitment across a range of workforce models to source the best talent. This may include permanent employees, company affiliates, partners and freelancers. Recruitment strategies will have a strong focus on enabling companies to supplement skill shortages as they arise and on building teams that can respond positively to change.

Customers

While the needs of customers have always been a focus, operating models must now be designed to keep up with the rapidly changing expectations of today’s empowered consumer. Having a complete understanding of what your customers want is vital, as behaviours are constantly changing with the emergence of new technologies. This knowledge must be gained through data and analytics that comes directly from your consumers, rather than outdated assumptions and guesswork.

Start Your Transformation Today

To be a leader in the digital age, organisations must be prepared to adapt and change – and for some, this will require a complete revamp of their existing operating model. This is a huge and daunting task but is a necessary step in staying relevant and achieving sustainable results in today’s market.

While core functions such as efficiency remain a priority, organisations of the future must also be prepared to test fresh ideas, look for new opportunities and challenge the business to constantly improve and evolve.

The marketplace has changed – and if your business isn’t future-ready, the time to start your transformation is now.

 

Are you looking for a new role in an organisation that is ready for the future? Or are you seeking talent that can adapt and change with your business? Why not have a chat with one of our recruiters today.


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