Illustration: Soumyasanto Sen
The digital economy is shaping the aspects of society, including the way people interact, the economic landscape, the future of work and business transformation empowering with fast-changing technologies.
The Fourth Industrial Revolution is distinguishable from the others because it is where humans meet the cyber world; where technology and people are not distinct, not separate. The Fourth Industrial Revolution will change not only what we do but also who we are. It will affect our identity, role, responsibility, a way of leadership and our mindsets.
Illustration: Studio Fee Overbeeke
Not too long ago the main instrument to gather data about the mood of the employees in the different parts of the organisation was the annual employee engagement survey. Once per year, or one every two-years, a long questionnaire was distributed to the employees. 50-70% of the employees responded.
The answers were analysed and often months later the reports were ready. Management discussed the outcomes, and a summary was communicated to the employees. Focus groups discussed the outcomes and made some suggestions for management. And so on, and so on. Even writing the complete process down, takes too long. Employee mood measurement has fortunately moved on. Nine trends we see.
2018 saw the toy giant, Toys R’Us close down all of their shops. Marks & Spencers has been hanging by a thread for a number of years now. Toshiba was forced to sell its computer chip business in 2017, and we know of the massive losses in the billions of Euros suffered by mobile phone giants for their texting services, due to the arrival of WhatsApp and Viber.
Volatility and unpredictability are increasing in business, as well as in the economy and the environment, and one of the questions large corporations and companies need to ask themselves, where is our innovation capacity going to come from in the next couple of years.