Overcoming uncertainty – the ultimate challenge
Anyone who had hoped that a “new normal” was slowly settling in is being taught better. The World Economic Forum recently published its “Global Risk Report”. When asked how the global outlook will develop in general, more than 2/3 of the respondents said they expect volatility to remain consistently volatile across economies and industries over the next two years, with multiple crisis reinforcing each other. The projection of the outlook for the next ten years assumes that this will continue to be the prevailing situation.
Overcoming uncertainty: 3 strategies
Clearly, we cannot predict the future. But we believe that “wait and see” is unlikely a clever strategy for overcoming uncertainty. That’s why we advocate taking action and exploring options. We have some suggestions for you on how to drive on sight. The beauty about them: you will always remain flexible and yet make sure you are moving in the right direction.
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Eliminate uncertainty: Scenario planning
A complex, but very smart move to get ahead of the game
When you take decisions for the future, let’s say an investment or any other kind of planning, you should think and eventually calculate in different scenarios. How can the current framework change regarding e.g., legislation, geopolitics, ecology, or economy & trade? By using the right creativity techniques, you can come up with various scenarios (three always sounds like a good number), which can then also be calculated in terms of cost and value.
Challenge uncertainty: Digital business models
A strategy for being up to speed and scouting options
ChatGTP impressively shows us how new technologies are changing our workplace. Other technologies are about to follow much sooner than later. At the same time, there is a shortage of a qualified & trained workforce almost everywhere. This alone will mean that business models will continue to be exposed to change and digitalization. If you want to be prepared for the future, you should start exploring novel roles along the supply chain, new types of customer relationships and changing expectations in the customer journey.
Beat uncertainty: Digital mindset
Get your teams future-ready – the ultimate strategy
To thrive in a world driven by data, algorithms, and new ways of working, we must learn, think, and act in new ways. The right attitude, meaning: the right mindset, makes it much easier to address. What sounds like a soft factor is actually the magic that brings about change. Those who specifically train the “digital mindset” of their teams teach them among others to embrace new technologies, to experiment and learn, and thus to shape a path forward.
Learn more about Business Model Innovation and how it can help you overcome uncertainty