Another year has flown by, and no matter what industry you are working in there have certainly been some real high points and terrible low points along the way. Regardless of where the year has left your business you still need to prepare for some of the challenges that this new decade will inevitably throw your way.
Data Usage and Protection
There has been a huge change in how your data is used and stored, although for some people there has been little change in the amount of junk coming in – but that is another story, with much of the responsibility falling on businesses starting with GDPR. This change to the rules within the EU represented a big challenge for international firms especially in the US where individual states now have their own regulations such as California’s Consumer Privacy Act.
For the rest of the decade the overriding focus seems to be directed more towards Data and Cyber Security with hosting moving towards more secure platforms like Onyx.
Businesses are already nervous about taking any risks in the current economic climate but looking at innovation is key to keeping your company relevant and seen as a leader in today’s world. Ideas such as creating and using more flexible, connected, work environments and encouraging the use of collaborative idea management tools. With these you can innovate but incrementally.
While innovation is a huge challenge for many businesses as we move into the next decade, many companies have already found that subtle innovation over the past year has brought benefits to business owners. The key is stay innovative and make sure you are not left behind in the new faster-paced world.
While, in the early 2020’s automation only effects a small percentage of jobs some 3% around the world. However, as machines become more capable of automation this number will rise quickly, some predict that within the next 10 years this number could be as high as a Third of all jobs will be automated. This brings with it a big decision for many companies namely to innovate or keep the human touch and potentially fall behind your competitors.
If this sounds scary for some it is important to note that it is possible for automation and people to work alongside each other if done correctly. With a balanced combination your business could have the best of both worlds whilst avoiding being left behind. For example Automation could help with recruitment and employee analytics leaving members of staff available for Customer Service which is an area where the human touch can actually help you stand out from the competition.
2021 promises to be an exciting time in Global Politics, with the impact of the end of the Brexit transition period and the outcome of the US presidential election which is due, at the time of writing, to be known in November.
An uncertain political climate can impact on business as it leads almost inevitably to fluctuations in the economy which then influences consumer confidence and spending. It is important for all business leaders to keep a close eye on the changes in the political landscape to react and plan accordingly for the future.
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