When businesses are asked to ‘prepare for the future’, what does that really mean? How do you prepare yourself for something that hasn’t even happened yet?
The future is an exciting amalgamation of change, disruption and opportunities. The challenge for businesses is to efficiently navigate the change and prepare themselves for the opportunities. The question is: how?
The obvious answer is by being proactive and far-sighted, but also by aligning current business strategies with technologies and risks of the future. In a world driven by constant uncertainty, the only way to move forward is by taking chances on promising opportunities and by building a skilled workforce to capitalise on them. But of course, it isn’t as simple as it sounds; it’s an ongoing process filled with complexities.
To address these intricacies, we’ve decided to focus on strategies that can help owners ‘future-proof’ their businesses. We are delighted to unveil our new platform SME 4X, which investigates how to plan for the future economy, identifies which technologies are set to change the way we live and highlights what cities will look like four years from today. Find out more about this initiative at www.sme4x.com; sign up for updates and we promise to keep you in the loop with all the exciting developments.
In the meantime, I’d like to highlight the three – of many – key areas that businesses need to consider while preparing for the future –
- Revamp the education system: Education is the foundation of everything we do; a strong educational framework is essential to creating the leaders of tomorrow. As we see workplaces evolving and job profiles rapidly changing, we will need to rethink the skills children are being taught. Are current curriculums aligned to jobs of the future? Do we need to shift to a more practical-based learning system? To what extent will online learning impact traditional schools? These are all burning questions that need to be addressed.
- Intensify on-the-job training and close generational divides: Employers have a huge responsibility in terms of ensuring that their workforce is updated with the latest technological advancements and has the necessary skillset to survive in a climate of change. Moreover, companies need to also create an inclusive working environment in which employees of different demographics can thrive together. Indulge in our comprehensive take on the subject.
- Align current business strategy with relevant technologies: There’s no doubt that technology plays the biggest role as businesses leapfrog into the future. As an entrepreneur, it is imperative to identify what technologies can enhance the capabilities of your business and boost productivity. Gaining a competitive edge is the only way to survive in the future economy. While this is a vast subject and the topics to be addressed are limitless, we start the conversation by exploring the world of Augmented Reality, Robotics, Fintech and Virtual Reality.
We will continue sharing our insights through the SME 4X platform, and encourage you to do the same using our interactive options!