When the pandemic threw the world into disarray in spring 2020, most organizations responded by holding on—barely, at times. Executives assessed the impact on operations and dealt with the immediate emergency. Now businesses are ready to move beyond resilience and recovery and capture growth.
Certainly, corporate execs and finance professionals have to focus on the future and take advantage of emerging technology. “You have to evolve to succeed,” explains Scott Brown, senior vice president of finance at tech distributor Mouser Electronics. “Whether it’s software, hardware or automation, we are investing in state-of-the-art solutions and systems to help us work smarter across all areas of the company.”
The good news: Nearly everyone is feeling optimistic. A worldwide survey of 297 business executives conducted by MIT Technology Review Insights, in association with Oracle, shows that organizations are ready to invest in innovative ideas to reinvigorate their organizations. And they’re getting the work underway.
The journey from survive to thrive
The pandemic challenged every business in 2020. It tested every element of organizations’ workflows and utterly changed their planning processes. But by autumn, most executives had a handle on the situation. When they spoke with MIT Technology Review Insights, they were busy designing strategic business plans for 2021. Among them: major business model and technology adjustments to help them achieve success.
Most execs are upbeat about their companies’ future. Few are are postponing any sort of changes for the next 18 months or putting everything on hold until things shake out.
Overall, 47% expect their business to thrive in 2021, 36% expect their organizations to transform, and only 12%
By: Jason Sparapani
Title: 2021 planning: New business models, big opportunity
Sourced From: www.technologyreview.com/2021/01/11/1015868/2021-planning-new-business-models-big-opportunity/
Published Date: Mon, 11 Jan 2021 17:23:39 +0000