- July 22, 2019
- Posted by: admin
- Category: Articles
The next economic downturn looms up at the horizon.
Your business needs to get ready today if it wants to be meaningful in the future.
Very few companies will be able to maintain current sales levels and operating margins when the economy will start to slow down.
Simply reducing costs will not do the trick! Companies should be vigilant and be organized in a way to constantly identify (new) disruptors as well as new, profitable sources of revenues. Not only making plans for a future approach but acting in a very proactive way is the key to survival and success.
Today is the right moment to become more resilient. The winners in the 20’s will be the companies with a focus on continuous improvement and long-term profitability. The game of business is moving to a new arena, where companies compete on learning, on resilience, on imagination, on engaged employees and on their ability to build bridges between the physical and the digital world.
In my experience most companies move to slowly and too cautiously, trusting too much on technological solutions exclusively, ignoring the main barrier for successful transformation being the human resistance to change.
What will it take to be a winner in the 20’s?
AI and technology are rapidly redefining the playing field. The winners of tomorrow will be those organizations that are capable to manage a harmonious synthesis of humans and machines.
AI will enable the workforce to focus on more creative tasks but will also induce huge resistance. Therefore, even if your organization has no immediate plans for implementing AI, solid preparation is needed.
The time of massive, huge scale transformation projects managed by bureaucratic PMO’s is behind us. Adapting a culture where continuous change is the only possible survival reflex will be the new normal for successful companies.
EffCo can help you to shape the organization of tomorrow through implementing a genuine culture of continuous improvement
Our experience teaches us that more than 50% of employee resistance is avoidable if a well communicated and structured approach is applied.