Everyone talks about the industrial revolution 4.0, but almost no CEO knows what it means for his/her company. We do not pretend to know better, but we try to talk about a few options or challenges.
Digitalization, robotics, fragmentation or defragmentation, offshoring and relocation, cryptocurrencies, blockchain and many other terms are mostly very abstract.
We believe that the problem lies less in the lack of knowledge of these phenomena than in lack of anticipation of changes in companies. Most companies have no “B” plan in their drawers.
While many start-ups are full of ideas and bring new solutions, many SMEs and even some large groups don’t seem to anticipate enough of the changes that might take place.
It is interesting to note that many bosses do not even ask themselves the question of where will be and what will their companies be that they run in the 5 to 10 years, often too absorbed to settle the daily business. It is true that it is becoming increasingly difficult to plan for the long term in a world whose pace of change has increased tenfold in few years.
However, they should be able to develop even the most unlikely scenarios in order to define a strategy, set investment focuses and priorities or simply act on resources.
To learn about new trends, to see what the competition is doing, to question customers about their expectations, to ask staff about their findings, to look for innovations that could sustain the company, etc. are just a few areas of reflections. But asking these kinds of questions, at least makes firms not be surprised when the wind turns.
The mode of consumption has been disrupted with the advent of online shopping: most shops have not seen anything coming and many have had to or will have to close their doors or convert very quickly.
There is a saying that says “when you are at sea and the wind is rising, you cannot change the direction or strength of the wind, but you can adapt the sails… and that if possible before it breaks.
Today, the same is true with revolution 4.0 for companies.