Post written by
John Schwarz
John Schwarz, the Co-Founder and CEO of Visier, is responsible for the company’s overall strategy, culture and organization development.
Throughout history, new technologies have reshaped the economy — from the Industrial Revolution to modern conveniences like the telephone, automobile, airplane, television and computer.
Businesses had to learn to adapt to radical change. But they didn’t all survive.
We’re experiencing a similar transition today, with one big difference: The pace of change is unprecedented. Personal computers, the internet and smartphones have created (and destroyed) entire industries over the last two decades. Now, artificial intelligence and robotics are likely to do the same.
As individuals, we can embrace new technology at our own pace. As business leaders, the opposite is true. Employees, customers and the competition drive tech adoption — often faster than our plans can absorb. Businesses have a stake in the status quo. Changing processes, plans and practices at scale is time-consuming, risky and may lead to short-term losses before generating long-term gains.
But change is coming inexorably, and business leaders must be nimble in order to embrace it. Put bluntly, if we can’t manage the next disruption, it will destroy us.
Here are five tactics leaders can use to face the rising tide of tech change and give their businesses the opportunity to survive for long-term success:
1. Conduct Regular Analyses Of Upcoming Trends, Disruptions And Threats
One must be vigilant to be nimble. A leader has to see what’s coming to adequately prepare for it. Companies should analyze their competitive environment at least annually, with an eye toward new technological trends that could impact operations in the next 10 years.