There are clearly major growth opportunities in Asia if leaders know where to look. A recent article in Strategy+ Business (S+B) identifies three mega developments, and has some important observations on what international companies require if they are to participate.
However, companies have to be on the ground to identify where there’s a gap, how they can fill it, and at what price they can do so. Moreover, headquarters need to be able to devise a strategy to gather, cross-share and export innovative projects, efficient processes, lessons and best practices from one market to another. In The new ways to win in emerging markets S+B examines what Malaysia, China and India need to accomplish their goals, and how and where opportunities will open up for business. S+B identifies the growth sectors over the next 10 years as the environment and human services; institutional development of manufacturing, retail, and consumer goods; and growth platforms such as financial services, transportation, and technology. In the article, S+B also shares case studies of how companies from Danone, Oxford University Press, and Ikea, to Unilever and Danish company Universal Robots have done it. Read more (free, registration may be required) here. Read also an ANZ bluenotes article about research that suggests 90 percent of ASX 200 companies are not ‘Asia ready’ based on set criteria.
PwC has recently completed a ‘Workforce of the future’ study which looks at four possible Worlds of Work for 2030 and the views of 10,000 people to help with our thought processes.
Their survey of 10,000 people in China, India, Germany, the UK and the US confirmed the prevailing subdued mood of workers with a third of workers worried about the future of their jobs due to automation, and two out of three think ‘few people will have stable, long-term employment in the future’. However, three out of four think technology can never replace the human mind, and are ready to learn new skills or re-train to remain employable in the future.
The report addresses the competing forces shaping 2030 and presents four future scenarios – or worlds – for work in 2030, to demonstrate the possible outcomes that might evolve over the next ten years. Read or download the report here
In the new digital world, digital capabilities alone are not enough for success. Just as important are leadership practices that can respond to the changing demands of work to enable new and differing working relationships with key people, and deliver the agility needed for work demands that are less predictable. According to MIT Sloan Review, leaders need to meet the challenges presented by three key shifts: (1) a shortage of talent with the requisite digital and social skills, (2) the need for flexibility to scale according to project requirements, and (3) skilled digital workers often choosing to work as freelancers. Forbes magazine estimates that 35 percent of people in the US are choosing freelance work and this is rapidly growing, particularly among millennials. The bad news for companies trying to attract this digital and millennial talent is that their dominant talent models don’t work. These models focus on organisational functionality and organisational flexibility. Instead, the two research scientists at MIT Sloan School of Management in the Centre for Information Systems Research (CISR) advise companies to adopt talent models that focus on organisational culture and team culture.
As for individual managers, success will accrue to those who understand technology and are able to both manage technology and the interaction between technology and their workers. High levels of soft skills will also be required to build culture in non-traditional environments — like Results-Only Work Environments (ROWEs) — to develop and lead effective teams of diverse, disparate contractors, consultants, remote employees, and office-based employees drawn from around the globe. Moreover, with creativity and innovation at a premium, the successful manager of the future will need to know how to project the right mind set to ‘prime’ their team and motivate them and drive performance. To learn more, read MIT Sloan Review’s The four ways to manage digital talent and why two of them don’t work, Fast company’s 7 skills managers will need in the future and This is the link between employee motivation and their manager’s mental state.
Some experts warn that cyberwar, like cybersecurity attacks, is a matter of when, not if. Like other forms of war, cyberwarfare is usually defined as a conflict between states, not individuals.
Whether an attack is considered an act of cyberwar will depend on the identity of the attacker, what they are doing, how they do it, and how much damage they inflict. Thus attacks by individual hackers, or even groups of hackers, would not usually be considered to be cyberwarfare unless they were being aided, directed or backed by a state.
Unfortunately, as in physical warfare, individuals and organisations can become targets or victims. Recognising that your organisation can be a target is an important step in developing a strategy to defend yourself.
Read this article to increase your understanding of the cyberattack and cyberdefence capabilities of different states, cyberweapons and a short history of cyberwar — 2007 is considered the watershed moment when cyberwar went from the theoretical to the actual. Read also about cyberespionage whereby hackers infiltrate computer systems and networks to steal data and often intellectual property, and the closely related information warfare e.g. fake news. Click here to read the article.
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