Organisations have already faced one inflection point induced by Covid two years back. However, they are now living at the second inflection point. The post-pandemic era presents a new set of rules for the game. The post-pandemic has opened new avenues to capture and made a level playing field for all organisations—from incumbents to startups. The confluence of four big trends—rapid and extreme digitization, workspace virtualization, contactless operations, and new sources for talent—is rewriting the rule book, creating both an opportunity and an imperative for reinvention.
Further, against the backdrop of geopolitical and climate emergencies—inflation, scarcity, and volatility have become the new normal. The business transformation of before will not work today. The objective of ongoing business transformation initiatives has to be rewritten.
The 5 pillars of business transformations will have new meaning now; People & leadership have created the new playbook, now it is all about scaling; Operations have been rejigged to deliver value to customers, now they need to become intelligent; Digital Ecosystems have now been established and need to converge with the physical ecosystems; Pace of Innovation will be all about sustaining the pace and the leadership position; Technology Platforms are all slated to become more intelligent enabling all the other 4 pillars.
The organizations that get this right will be more adaptable, more resilient, and more sustainable—no matter what the future holds. This time around business transformation is no longer triggered by any force majeure. It is now driven by a vision to be on the top where the sky is the limit.
The next chapter of MINT | TechCircle Business Transformation scheduled on 14-15th Oct will be an amalgamation of a symposium and the awards ceremony.