The speed and scale of impact that digital technologies have on business and society demand a new level of corporate responsibility that anticipates both long and short term implications of enterprise strategies.
New digital businesses cannot always operate at the speed of digital – restraining forces such as legislation and public opinion will inevitably arise. The question that businesses need to address is: how should they respond to this need for balance?
We address this within the context of digital business models – business platform economy, circular economy, and the concept of Digital Business Continuum; and also their societal impacts - digital society and the future of work.
Data has replaced oil as the world’s most valuable resource. Extracting and exploiting its full potential demands the formation of a connected and collaborative data platform economy.
The most successful companies in the digital era have all been built on platform business models – models that allow multiple stakeholders to interact with each other, creating and exchanging digitally enabled value.
The continuing trend toward increased business digitalization is putting many market sectors on the verge of a new quantum leap forward. To deliver against the promise of this trend, the future operations of many companies and their ecosystems are likely to be strongly influenced by platform interactions.
Businesses today already operate amidst widespread disruption. We believe that, rather than thinking in terms of a “one-shot” digital transformation, companies will need to operate in a state of constant flux, innovation and reinvention.
The Digital Business Continuum” is an approach to running an organization which enables rapid business adaptation and extensive innovation.
By assessing themselves against the “Digital Business Continuum” framework, organizations can identify the concrete next steps they need to take to boost their digital maturity.
The planet’s natural resources can no longer cope with the pace of consumption associated with the linear economic model of “take – make – dispose”.
New approaches are required to realize sustainable and equitable economic success. The circular economy is a solution for doing more with less (resource), but how are we going to embrace and perhaps even enforce this model?
With technology driving disruptive change at break-neck speed, adaptability becomes the essence of survival. To remain competitive, employees, organizations and society need to adapt quickly to new models, tools, processes and organizational structures.
The “Digital Business Continuum” introduces an approach to ensure that organizations remain adaptable and innovative, despite the pressures of continual change.
But what about the workforce? How is it impacted and how is it going to stay competitive and thrive in the digital era? How should enterprises be preparing now for the future of work?
Technology is becoming ever more integral, impactful and intrusive to our way of living. A new Digital Divide is emerging, not just related to those unable to engage digitally, but to those who for various reasons choose not to.
The digital society is already upon us, but how it progresses further is still uncertain, and could be played out in many ways. To make progress toward an inclusive and equitable digital society, organizations will need to put a renewed focus on their Corporate Digital Responsibility in the years leading up to 2022.