You are a small or medium-size business in the midst of a global pandemic that is constricting your business as governments order “non-essential” businesses to shutdown and growing consumer angst crush business activity and demand. What do you do? What can you do to survive and thrive? For many industries, surviving will require businesses to dramatically rethink the notion of business model, go-to-market approach, supply chain, sales channels, people and modality of work. All of this needs to happen with the consideration of the health and safety of employees and customers against the persistent threat of the coronavirus pandemic.
For years the Smart Home has promised to enrich the lives of consumers and has inspired waves of manufacturer innovation such as smart speakers, intelligent thermostats and much more. While these innovations have offered incremental improvement in our home lives, the consumer reality has been a deluge of devices and services, greater complexity, and less security. In truth, the Smart Home remains elusive, the problems it intends to solve unclear. Only when manufacturers reach beyond devices and services with purpose-driven “Smart Living” solutions at home will this market cross the chasm to rapid market growth.
As businesses face increasingly rapid and volatile dynamics of change, business leaders are challenged to continuously shift and (re)position their organizations for survival. With change coming from a multitude of different vectors, what can leaders do to “future-proof” their organizations and win in a digital economy?
While GDPR raises global concerns about enterprise use of consumer personal data, the media and consumers continue to confuse privacy with security and vice versa. Can consumers effectively advocate for and protect their digital privacy when privacy and security are so easily and readily confused?
Agile, Adaptable, Innovative, and Efficient – these are key attributes of organizations that will thrive in the rapidly changing, highly competitive environment that is the digital economy. Sustaining this kind of continuous reinvention requires a well-conditioned organization that is comfortable being uncomfortable. The question for today’s leaders is, what does it take and how can you ensure your organization – and workforce – is up to the challenge?