October 2018

HOW FUTURE-READY ARE YOU AND YOUR BUSINESS?

Presenter: Tammy Marshall, Founder & Managing Director, The B Hive

Future of work

In 1964 the average lifespan of

companies was 33yrs on the S&P

500; this dropped to 24yrs by 2016

and is forecast to shrink to just 12yrs

by 2027

5

6

FUTURE

READY

Skills

Tech

Talent

Systems

Strategy

Mindset Emotional and rational

attitude of all staff

Short and long-term objectives and

approach

How the business gets things done

Leading current and future staff

decisions

All things tech, IT, digital related

Managing all knowledge and capability needs

Customer The end-user of the product or service

FUTURE-READY HIERARCHY OF THINGS-TO-BE-DONE

Reason #1Accelerated pace of change

Reason #2Pervasive spread of impact

Lose weight

Help others

Enjoy life

Findnew

friends

Join gym

Drink less

Savemoney

Quitsmoking

Takea trip

Talkto loved

ones

1 LOSE WEIGHT

2 TRAVEL OFTEN

3 GET ORGANISED

4 CARE MORE

5 BE FITTER

6 LEARN MORE

7 MORE LOVE

1 LOSE WEIGHT

It is imperative that businesses

today break- free from old ways of

working, nurture their

culture and adopt a growth

MINDSET fuelled

by innovation.

1

MINDSET TACTICS

Be sure to revisit

original purpose

Cultivate and

nurture culture

Foster a creative,

innovative environment

1

Blockbuster ignored all the

signs, clinging to its brick-and-

mortar business which led to

its collapse

2 TRAVEL OFTEN

Key to an company’s success is

thinking big, changing the lens and

having

a dual STRATEGY:

both stable (short-term)

and dynamic (future

horizons).

2

STRATEGY TACTICS

Widen competitor

lens and think big

Plan for horizons

1, 2 and 3

Make sustainability key

to all decision-making

2

21

The demise of Polaroid

was due to a lack of

foresight and stubborn

short-termism

3 GET ORGANISED

One of the key foundation blocks to

success involves optimising

internal SYSTEMS so that

employees can be as

efficient as possible.

3

SYSTEMS TACTICS

Revisit and refresh

all internal operations

Adopt lean principles

where appropriate

Learn from

disruptors behaviour

3

A lack of

cohesion

and

ineffective

leadership

contributed

to Sony’s

troubled past

4 CARE MORE

An organisation’s prized asset

needs more TLC than ever before,

not only to motivate current

TALENT but in order to

successfully attract

new blood.

4

TALENT-CARE TACTICS

Evolving role of

HR function

Appointing strong,

effective leaders is crucial

Modernise remuneration,

rewards & KPIs

4

29

Volkswagen

historically hit

troubled waters

for continually

putting profits

before people

5 BE FITTER

In order to be a lean, mean, fighting

machine, businesses need the

latest and most relevant

TECHNOLOGY to help

drive future success.

5

TECHNOLOGY TACTICS

Think with a

digital mindset first

Experiment with

different technologies

Use automation to

your advantage

5

33

Xerox had

outstanding

innovation but

crumbled by

not focussing

on its

strengths

34

6 LEARN MORE

35

As the world around us evolves,

capabilities in the workplace are

changing and employees

need to be supported

through this

skills-shift.

6

SKILLS TACTICS

Time for a companywide

skills audit

Build a data-driven

organisation

‘Kaizen’ mentality

fuels efficiency

6

37

Resisting

change

was a key

reason

Blackberry

experienc

ed such a

hard fall

7 MORE LOVE

39

7

Central to any thriving business today

is an obsessive focus on the

CUSTOMER, listening,

engaging and observing

their every move.

CUSTOMER TACTICS

Obsess about all stages

of the customer journey

Immerse yourself in

(real) customer’s lives

Invite customers (literally)

into the boardroom

7

41

A lack of

engagement

with and

empathy for

the

consumer

led to A&F’s

fall from

grace

FROM … TO …

MINDSET Fixed Growth

STRATEGY Short-termism Horizons

SYSTEMS Efficiency Responsiveness

TALENT Controlling Empowering

TECHNOLOGY Static Dynamic

SKILLS Ad-hoc training Lifelong learning

CUSTOMERS Transactions Community

KEY TAKE-AWAYS

44

Download the Future-

Ready Assessment to

see where your

strengths and

weaknesses lie

3 MINUTES

Begin execution of top

3 areas that your

business needs to

address first

3 WEEKS

Sit down with your

boss/leadership team and

sketch out an action plan

based on what you know today

3 DAYS

ACTIONS IN THE NEXT …

Lots of

companies don't

succeed over

time. What do

they

fundamentally

do wrong?

They usually

miss the future.

Thank

YouTammy Marshall

tammy@thebhive.com.au

0414 503 475

thebhive.com.au

DOWNLOAD YOUR WHITEPAPER HERE:

https://www.thebhive.com.au/research/whitepapers