MANAGING in the

NEW WORLD

The world is increasingly gearing up to the digital age as the present time is known as. Business research firm Gartner predicts that by the year 2020, more than two-fifths of enterprise revenue will emanate from digital business. This figure is double of what their own research pointed out just two years back. This will bring further opportunity to digital native millennials as well as companies such as Google, Uber or Facebook. A few leadership and organizational capabilities have been recognized that are needed for this digital age. Firstly there must be utmost disciple and focus towards the final goals. They must have a clear understanding as to what digital implies for them. Agility is another maxim they need to embrace to take quick decisions and leverage existing business opportunities. Such organizations need to be well connected, removing redundant communication lines that are hierarchical. There must be complete transparency in dealings within the firm. Communication must go beyond tight silos. Such firms must also make sure to empower the people in charge for better decision making and aligning their skill sets to the appropriate work. Thus marketing, HR, customer operations, R & D and IT must be allowed to own up to their areas of capability.

Source:https://hbr.org/sponsored/2017/03/how-organizations-can-thrive-in-the-digital-economy?

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