The Future of Business

The Future Belongs to Those Who Do Not Wait to Create It.

The old business playing field is forever gone.

Surfacing in a Wuhan Chinese seafood and poultry market in December 2019, in January 2020, the Covid-19 pandemic hit the world like a severe thunderstorm.

Fueled by adrenaline and urgency, most of us stopped everything we were doing to hunker down for what we hoped would be a very temporary crisis. Then, we held our breath for months, waiting for signs that it was OK to start planning again. But, as we continue to steer our businesses through the pandemic, social unrest, natural disasters, and even more economic uncertainty, it is become easy to wonder: “Is all this the new normal?”

The truth, however, is that if we were to return to running our businesses for the world as it existed in January 2020, are likely be disappointed. Like it or not: life has change! Life is no longer what it was. Life has change how we identify opportunities and risk, how we manage our businesses, how we use technology, how we network, how we acquire and keep customers, and how we think about the value of work itself. The people who recognize this and embrace these changes the fastest are the ones who stand and will stand to win big.

Businesses that are not thrown by unforeseen challenges, business owners and corporate officers embracing change the fastest, expecting shocks to the system and willing to use today’s extreme situations to learn and improve, these are the businesses and the business owners who stand to win big in the years to come. For those refusing to embrace change will end in nothingness.

If you ask me, those who will make it and make it big are those who do not wonder, those who do not hope, those who know they are going to make it through, those who decide, those who already have decided they were and are going to make it.

No one really knows for sure how things will shape up in a post-pandemic world, but here are my predictions, what I believe will happen, what I believe tomorrow might be like and what business owners, corporate leaders and even workers need to consider to come out a winner:

·       Ethical and work values as well as reputation will play an important role.

·      Technology will complement human abilities.

·      Work assignments and routines will change constantly.

·      Work will be carried out independent of time and place.

·      Work will require higher cognitive and creative capabilities.

·      Workers will be highly specialized.

·      Workers will be required to learn constantly on the job.

·      Workers will require entrepreneurial thinking.

·      Teams will be assembled and changed dynamically.

·      Technology will be used to automate tasks.

·      Work will be communication- as well as knowledge-intensive.

·      Work will be conducted predominantly in projects.

·      Workers will be free agents.

·      Workers will be highly connected in communities.

·      Collective intelligence will be important in decision-making.

·      Decision-making will be decentralized.

·      Finding and cultivating talents will be a key challenge.

·       Information will be readily available independent of time and place.

·      Low-skill, out-of-competence work will be outsourced.

·      Market principles will be applied within organizations.

·      Organizational hierarchies will be loose and flat.

·      Organizations will exhibit a core-periphery structure.

·      Technology will support all kinds of interactions.

These are only some of my insights and predictions about the future to be added to your playbook. The old business playing field is gone. It is time to stop mourning what your businesses may have lost and start the hard work of regaining control of your life and destiny.

Tomorrow belongs to those who will have access to the best information and the guts to act on it.

The future is waiting to be created.

JMD

J. Michael Dennis, ll.l., ll.m.,

King Global Earth and Environmental Sciences Corporation

King Global Earth & Environmental Sciences Corporation is part of the Management, Scientific, and Technical Consulting Services Industry and the Professional, Scientific, and Technical Services sector.