With 99.7% of companies with less than 250 employees, it is clear that the backbone of the Swiss Economy are Small and Medium Businesses. But what are the risks or opportunities that the Swiss businesses are facing with the 4th industrial revolution. Are all businesses impacted or only the industrial oriented businesses?
To be straight and direct. Every business, every company size in any industry is impacted by the massive transformation we are facing. Тоdау’s lеаdеrs have to асtіvеlу mаnаgе thе јоurnеу tо dіgіtаl ехсеllеnсе, to transform their company for the next decade or then accept to be either marginalized or pushed out of business.
Understanding the actual revolution
To understand how this will all impact your company and your role as a CEO, we need first to understand some very basics, fundamentals about this current industrial transformation.
Very simply explained, we can observe three pillars of disruption which is creating this 4th, digital industrial revolution. Disruptions driven by new technologies, disruptions driven by new business models and disruptions driven by cultural evolution. All three pillars of transformation are amplifying and influencing each other. Interestingly enough, we’ve seen similar areas of disruptions in the first industrial revolution, which led to massive transformation as we know.
Technological Revolution: Over the past several years, new technologies appeared in our life which influenced our lifestyle, our way of working, our communication. Ubiquitous computing, social media and other technological trends like big data, IoT, Cloud etc impacted our live quicker than anything else in the past 50 years. Not necessarily because of the new technologies themselves but more because they became enabler of new social and cultural behaviors and opened doors to new, technology based, business models.
Business Model Transformation: Everyone has heard about Uber, AirBnB and related. No need to explain their businesses. However, it is imperative to understand that all these new businesses are driven by new business model phenomenon e.g. the sharing Economy. All of these new business model innovations are also having an impact on businesses.
Cultural Evolution: Generation Y, generation Z etc. We all have heard about them, the different behavior, the different way of communicating and purchasing. At the very core of all these insights are the fact that we are observing a massive cultural transformation. This younger generation have a different view of values, different expectations from suppliers/vendors, they make decisions differently and are highly influenced by the network they interact.
Are you ready to transform?
First and foremost, it is imperative that you, that every CEO have clear understanding that like 200 years ago with the first industrial revolution, the actual 4th industrial revolution we are facing is transforming and impacting every kind of business. The WEF 2016 outlined and shared some impressive number on jobs and industries impacted.
The transformation and disruption is not purely a technological play. It has its root in the cultural and business model evolution, enabled by technology. It is not just a digitalization of the previous ways of doing business. It is a disruption of the previous models.
Opportunities for Swiss SMB
With 75% of Swiss SMB’s being in tertiary sector, this industrial revolution is not only bringing risks. In fact, it is bringing more opportunities. The recent Global Innovation Index 2016, outlined that Switzerland is again ranked #1 Worldwide as the most innovative economy.
It is thus a unique opportunity that Swiss SMB’s are grabbing the chance, innovate and lead the 4th industrial revolution. It will lay the foundation for the next century of a highly successful Swiss Economy.
Three steps to Transformation
These simple steps will kick-start your transformation journey.
- Get Inspired
Understand in depth the transformation we are facing. Join the various trainings provided by Microsoft
- Get Coaching
Get support from a Digital Transformation coach who will help you to find YOUR journey or join various deep dive workshops
- Start your journey
Enable your organization capabilities as foundation for change.
Don’t fear the risk, embrace the chance and lead your business into the next opportunity.
Join our Deep Dive Workshop on the 4th industrial revolution and get ahead of competition.