The world is in the progress toward recovery from COVID-19 pandemic, the true next-normal is coming, despite now we are in the COVID-19 variant and third wave of attack, with the vaccines invented and roll out, it just a matter for time to put this, finally in the end.
For close to a year long period, from the lockdowns, strict social distance and boarder lockdown and slowly re-open and connecting back to the world.
You will notice despite the sudden force change due to COVID-19 for the entire planet countries, and it dramatically changes the mass behavior we used to, as such, since the environment and market had changed, so do most of the companies make the massive change and adapt for the changing reality. Be a future-ready company is a company that is capable of leveraging digital transformation, not just for survival but also gear toward for the better alignment of your business enterprise for the new market reality.
COVID-19 breaks a lot of our humankind practice and habits. Now we all accept web meetings, web live training to buy online and home delivery. As such, for those that do not seize the changing market behavior and pattern will have a very bad time. But for those early adopters for the change, they enjoy accelerated growth and expansion.
COVID-19 makes the whole world rethink about how to optimize the business enterprise and resources to better serve the changing needs. For sure, for those who can not adopt, include their employees can not be or possess the needed new competency needed to perform for the new changing world, they will suffer from the extensive of overhead and low productivity, compare with those who can leverage the change, to improve and self renewal be a better business enterprise.
Some have said before good time everyone make money, since the market is expand, but bad time lot of companies is out from the business, because despite the market continue want to buy and consume some product and services, they more likely to buy with someone who are possess core capability buyer confidence to do business for years to come.
It can do a very quick check, ask around, from the top management, are they knowledgeable and capable to navigate the company and are they investing their time and company resources to build up the new and future needed capability for the company? World is changing, so did the dynamic product and market. Use 10 years as the measurement, you will notice most of the product fail, despite how much market share they possess during the past, if they can not seize the changing market behavior and pattern, and work backward to start to acquired the new capability the company needed for the 5 years from now needed to compete in the market. Companies that more likely adapt for the new technologies and new business practices, are brave to make bold moves and try out new things is much better than doing nothing at all. Since you at least try out, learn some insight and you can make the adjustment and correction, and continue to work on your new goal. Companies that have the aim and purpose in mind, knowing about what they want to achieve, are more likely than those fire fighting and just reacting to the market requirements. As over the long term, you can not catch up in terms of the time and other resources that other successful companies already invested and start to reap the result. Money alone is not the answer for ensure the business and company success, as you can see and it evident from time to time for certain company being take over at the sky rocket price, but they all end up underperform, or worst, divest or write off and exist the business as the result for suffer major loss.
World is changing and will never stop for everyone. It has already demonstrated from all the business history. Once upon a time, we got the music store, who sold music tape, then became CD, and eventually majority of the digital music sold via digital music store. Then it became a music streaming service by subscription. For those who are in the business of music stores, if they do not evolve along the years, they are for sure out of business.
We saw the same trend for the physical book store, and now ebook, and unlimited book reading subscription. Every company wants to be the future-ready company, need to pause and answer the question for what we want to supply next five years from now for the business? What kind of new capability needs to be invested, so you better serve the market you want to be at that point of time. You can now say you want to be in the business of XYZ at that time, you do not get any business edge without being one of the early investor company resources to nurture, develop and acquire the new capability.
The world has already entered into digital economy, since the first consumer e-commerce sales did in 1995, for the coming time, it will have more and more digital products invented and replace traditional products, in particular for the physical product. For the same, it will have less and less year-to-year growth for the physical computing device needed, except by the datacenter and infrastructure services provider, as the world moves toward cloud computing. It is more cost effective and flexible to just subscribe for the computing utility as per needed basis, and no more worry for the ongoing hardware upgrade and replacement, as well as physical storage requirements. The world is moving to 10 to 100x faster than now, so did we need to do things faster than before, by making use of automation.
For the individual level, in particular for those under employed, do you possess what the next five years market needed skill for being continued to be considered for getting hired? Huawei 35 years old is the divide line, either you move toward management, else you are too old for the technology world, and those positions should be filled back by the younger generation of people.
E-SPIN Group in the business of enterprise ICT solution supply, consulting, project management, training and maintenance for multinational corporations and government agencies. Feel free to contact E-SPIN for your project requirement and inquiry.
