Future-facing companies are those that are geared up towards the latest transformative business innovations. This is typically easier than at start-ups than large corporates with an established hierarchy and a history of work following older processes. Even the most innovative of companies are often saddled with working in business environments that are only slowly catching up. Most management tools for example were created some time back and many aren’t conducive to day’s pace of work. Such future facing companies have been known to carry certain unique characteristics. These companies keep a balance between its corporate strategy and the future possibilities so do not stay rooted to any single idea. Instead of focussing on a single line of work, they explore a portfolio of businesses. They often curate a thesis on the coming times to stay ahead of the curve. A proper framework in created to fit in all innovation sin a matrix like structure. Even the investment decisions are taken keeping in mind the upcoming innovations. These are even incorporated within the accounting procedure. Instead of having levels of hierarchy and related bureaucracy, they have a lean structure. The teams created are cross-functional to enable exchange of vital ideas. The pattern of working is open while collaboration is encouraged. The leadership too is flexible and agile. In addition to being leaders, they remain individual contributors setting an example.

Source:https://www.forbes.com/sites/tendayiviki/2017/08/08/the-10-characteristics-of-a-future-facing-company/#5e312b7418b5

Uploaded Date:27 October 2017