![]() Running desktop exercises and crisis scenarios is the only way to ensure everyone knows what to do when the inevitable breach happens. With a holistic strategy around cybersecurity and data management, and by building a culture of better cyber hygiene from the top down, the risk and damage of any attack will be reduced. Now is the time to re-evaluate the security of your IT infrastructure and services. If bad actors want access to your digital assets, they will find a vulnerability sooner or later. Most business leaders understand that it is not a case of if the organisation will be breached, but when. ![]() But, even better is working with trusted expert partners. Once more, investing in technology solutions is vital. Given that one prediction one can make with certainty is that cyber breaches will increase in 2023, cybersecurity is another area that needs to be boosted in the next year. So unless you have detailed visibility of supply chain lead times and understand customer sentiment, by the end of 2023, your business might be saddled with working capital and stock. But if you have not satisfied your customers, and failed to communicate any supply chain problems that have caused a backlog in orders, then perhaps they will look elsewhere. When inflation does eventually reduce, in theory, there will be an increase in demand. A key element, though, is engaging and gathering data, including from customers and the Internet of Things. But with the worsening cost-of-living crisis and rising inflation, no one truly knows what consumers will do – are they saving for Christmas, or are they struggling to save anything?Īgain, this is why smart businesses are planning for all eventualities and focusing on data-driven horizon scanning so that they can adapt at speed and possibly gain a competitive advantage. For example, in the recent past, organisations would have a good idea of supply and demand throughout a given year, with many enjoying a peak in the latter in the so-called golden quarter. One good option is to run more business scenarios to better understand the most likely outcomes, whatever happens. What I can predict, however, is that if you, as a business leader, don ’ t have a good way of managing that volatility, then your organisation will be in a very poor situation this time next year. ![]() With the ongoing war in Ukraine, a slowdown of business growth, a looming global recession, the deepening energy crisis, and other geopolitical issues, volatility is likely to exist on different levels across the world in 2023. And despite being almost 40 years old, it is very relevant today. VUCA is an acronym for volatility, uncertainty, complexity, and ambiguity. We live and operate in a so-called VUCA world, a term coined by economists Warren Bennis and Burt Nanus in their 1985 book Leaders: The Strategies For Taking Charge. Indeed, how can anyone make firm forecasts in a world where change is the only certainty? The fallout from the pandemic has had a massive impact on every aspect of the business world, from ways of working, supply chains, energy costs, sustainability and more. It ’ s more about understanding the potential challenges and opportunities and being able to react – or even be proactive – accordingly and quickly. No one should take detailed trend forecasts too seriously and build strategies around them. So, with tongue firmly in cheek, I offer my predictions for 2023.īy nature, there are pluses and minuses to every prediction. And yet very few supposed experts-if any outside the healthcare space-saw the coronavirus coming. On the eve of 2020, many commentators smugly claimed to have "2 0/20 vision"and foresight. At this time of year, there is always a torrent of prediction articles packed with educated guesses at what the next 12 months will bring.
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