As the political, business and economic environment is becoming more unpredictable, 64% of organizations are adapting their innovation strategies amid unprecedented global political and economic uncertainty. To stay ahead of the unprecedented levels of disruption and change that face today’s world, executives need to understand to gain the benefits of innovation, which are substantial, you must navigate and live with some uncertainty. Rewinding back to 1998, Kodak, one of the largest companies on the New York Stock Exchange had 170,000 employees and sold 85% of all photo paper worldwide. Within a few short years, its business model dissolved, and soon went bankrupt. No one saw it coming until it was too late. Today’s executives need to understand how business models impact their organization’s infrastructure – not only from a technology standpoint but from an economic, social, political, and regulatory one as well, especially to stay nimble, adapt to an uncertain climate, and truly discover how investment in innovation and white spaces will influence greater resilience and are critical in ever evolving circumstances.
BritishAmerican Business’ half-day conference highlights what happens if you let go of the need for certainty in a complex economy, and how innovation is fundamentally linked to uncertainty, risk, disruption, and influence of the 4th Industrial Revolution. As business leaders, government officials, educators and citizens, we need to create a common set of principles and values that take us to the future that we all want together.