Big changes have hit the economy including the pandemic, war, and inflation that have disrupted industries.
New trends and technologies are also transforming the way we act as consumers and do business. The big question is could these have been anticipated? Ismail Amla who is Executive Vice President, Strategic Direction and Executive, NCR Professional Services, spoke to management best-selling author Rita McGrath to see how the lessons of the past can help us detect the major trends that will impact the future.
When you look back at these developments, we often realize the signals were always there—we were just too busy to pay attention to them. The key is to understand how to see those signals right here in the present when they are happening.
It’s the details at the edges that CEOs don’t often see. It might be someone in a loading dock seeing a better process for something or a cashier noticing certain customer frustrations. These happen far from where the business decisions are made. CEOs need to know where to look and how to tell the difference between those signals that herald major change.
Those changes are coming thick and fast. To keep up, CEOs must realize they are no longer just competing against their peers in their industries, but across the entire ecosystem. For example, recent years have witnessed the retailization of many services including banks. When consumers look at how they want to be served, they are looking at all industries. They want to know why all technology can’t be as easy as everything else. Whether you’re working in health care or finance, you’re competing with the very best user experiences across the industry, rather than those in your sector.
By looking up, and paying attention to change, today’s CEOs can get an idea of what’s coming down the line and make sure they are ahead of the curve.
