Transformation is an imperative for survival and L&D should be at the forefront of improving individual productivity and organizational capability that will create organizational transformation.
Innovation, volatility and new customer expectations, are some of the many triggers that are a stimulus for Organizational Transformation. Organizations today, have to get past historical paradigms of doing business, as new entrants emerge that seem to play by a different set of rules. These new entrants like Uber, Netflix etc. are challenging core business assumptions and introducing new business models. This is forcing transformation with a capital “T” in existing organizations which involves changing their very essence. Just like turning liquid to gas, or lead to gold, Apple is moving from computers to consumer gadgets, Google from advertising to driverless cars, Amazon from retail to cloud computing. This list is ever increasing and is almost necessary for survival.
Organizational Transformation is an imperative, not an option for survival. Over 50 percent of the Fortune 500 companies have disappeared over the last 15 years1. Another study says that one in three companies will delist in the next five years2. A third shows that the “topple rate” of industry leaders falling from their perch has doubled in a generation3. Digital disruption is at the heart of the threat to organizations. Thus, organizations now need to consider the digital consumer with expectations of personalized experiences. They also need to move towards being a digital enterprise, leveraging technology to not only optimize and collaborate, but also revolutionize how they do work.
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the {{IssueName}} edition of {{MagazineName}}.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
How Digital Transformation Can Power The Great Reset
Technology has the potential to serve as the key enabler of change between digitalising administrative tasks and fostering human connections
The Crypto Meltdown Of 2022
FTX implosion: A setback, but not the end for the crypto market
Govern Pre-IPO Unicorns to Create Value; Not Valuation
Billion-dollar startups always make the headlines. But is there true value behind those eye-catching valuations? How can proper governance be implemented for these much-hyped companies?
On change and change management
The best way to end the year, especially such a disrupted one as 2022, is by laying the groundwork for the year to come. Michelle Yong, Head of Resourcing at Shell, offers some insights on change management to bring us forward into 2023
The Great Reconnection: A paradigmatic moment for employers and employees
This year has not been a good one for employee retention. The Great Resignation, originally thought to be a US phenomenon, has emerged in Asia now. But is there a way to turn it into the Great Reconnection?
Lessons Managing in leadership: a global hybrid team
What takeaways can we draw from the pandemic? Fatima Koning, Chief Commercial Officer at IWG, shares what the last five years have taught her about managing a global sales team across 120 markets in the hybrid model
Eight HR trends that we saw throughout 2022
As companies manage their workforces in a dynamic era, HR departments have continually adapted and adjusted, and never more than this year as digital acceleration and workplace evolutions came together
One way to turn the tide of employee retention
There's a surprising link between skill development opportunities and job satisfaction. Here are some ways of boosting skilling and thereby talent retention
A key focus for L&D going into 2023 should be business alignment
Venkat Subramaniam of Degreed believes that learning is core to business success and organisations need to invest in the right processes and technologies to adapt to continuous change
WOMEN IN LEADERSHIP CAN BE GAME GHANGER FOR INCLUSIVE FUTURE OF WORK
BREAKING FREE FROM THE STEREOTYPES IN THE INSURANCE SECTOR, PAMELA THOMSON-HALL SHARES HER JOURNEY OF BEING A CHAMPION FOR WOMEN AND BRINGING ABOUT A CHANGE IN A MALE-DOMINATED INDUSTRY
