How will driverless cars change the environment we live in? How does the sequencing of the human genome impact healthcare? How will biometric sensors change the way we share and manage our personal data? The nature of markets is constantly evolving: The Economist’s Tom Standage takes us through disruptive technologies and how companies today are re-evaluating the businesses they’re in in order to pursue new opportunities.
Innovation in a world in beta
New technology is changing where the value lies in our markets as we move from an economy of products to an economy of outcomes. How can businesses gain advantage by focusing on engineered, perceived and behavioural value; and use the developmental patterns of speed, empowerment and trust to manoeuvre in a world where the market is constantly changing?
PwC Partner Carlo Gagliardi explains what it means to be in a world ‘in beta,’ and how companies must adapt to gain advantage in the digital age.
The pace of business is quickening; in the digital age markets can be disrupted and billionaires can be created overnight. To keep up, you’ll need a business that is agile, flexible and can make informed decisions quickly. You’ll need leaner, faster processes throughout your organisation to help you to get the most from your data; providing you with the insight you need to make the right decisions at the right time. Play the video to find out how to increase your speed by following the steps: ‘simplify, standardise, share’.
Empowerment drives innovation, and in an empowered culture new ideas can come from anywhere. Empowering people means giving them freedom to make choices and decisions, allowing them to challenge convention, experiment, and also occasionally fail.
In a world in beta, you’ll need to innovate faster, which means that you’ll need a business that is flexible, with strong policies and frameworks that allow your people to take risks and experiment freely. Play the video below to find out how to benefit from people power to propel your business forward.
Trust is a crucial aspect of any business: the winners of the future will be those businesses that understand the value of trust and place a priority on protecting it.
But before customers can trust a business, a business must first trust itself; you’ll need to think about the values you’re trying to embody, and how this filters into every aspect of your organisation. It's not only about the good times either; how you react to shocks and crisis, and having the appropriate tools in place to deal with recovery are also key. Play the video below to find out how trust can give you the confidence to experiment and innovate.