For the last 50 years only 19% of companies are in existence today. Many did not survive or unable to sustain due to many reasons. However, one of the key reasons are due to the fact that they are unable to compete or remained competitive whereas their competitors have transformed their business by leveraging new technologies and new business models.
Digitalisation and Internet has been very key in these transformation. New products and services have been created. Their operations are becoming more agile and productive. This is the outcome when companies embraced new changes openly. Their lleaders are the risk takers and have excellent vision of the future.
Every 3 to 7 years companies need to transform themselves, reinvent their operations and business. They should look at the current and future trends of technologies and see whether they can leverage these powerful technologies and together surf the great waves of disruption.
Check out Dr. Mazlan Abbas, CEO of FAVORIOT video explaining about the great changes happening in IR 4.0.
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