Why Businesses Need to Be Digitally Equipped to Deal with Market Catastrophes
Business leaders must always ponder the notion of potentially cataclysmic events that could shake the business world as we know it.
One such potentially catastrophic event (business-wise) was Brexit.
In a recently published article entitled, “How Leader Can Stay the Digital Course in a World of Surprises,” author Chakib Bouhdary writes:
“The outcome of the Brexit referendum in June took the world by surprise. Many financial markets, political leaders, and CEOs are uncertain about what lies ahead,” Bouhdary writes.
What is certain, however, is that the next two to five years will be a period of disruption.
“Specific to Brexit, as trade agreements are renegotiated, companies will need to adapt to any potential scenario,” Bouhdary writes, adding, “And as with any seismic business disruption, companies must be able to carry on with reimagining their business models, products, and services and with driving new operational efficiencies.”
Companies must take advantage of the latest digital technologies to meet consumer expectations and survive and thrive when Brexit-like disruptions occur.
“Brexit may have raised doubts in the minds of some CEOs on the timing of strategic IT investments. But in reality, disruption is part of the new digital-age landscape. Companies need to be prepared. It’s time for companies to truly simplify their business processes and IT landscape and to replatform for the digital economy. The winners will be the ones that are ready for tomorrow,” the author writes.
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