Part 3: Predicting the Unpredictable
Areas of impact: Governance and generational divides
The future is arriving sooner than we think. Truth be told, technological disruption’s imperial change will be hard to escape, even for the biggest of organisations. Changes in the pecking order provide some of the most formidable cautionary tales. With an eye to the future, while problems are inevitable, and solutions create new problems, which must be solved in their turn.
In spite of the enormous effort and attention devoted to improving governance, compliance and its process, the task is even more complex than it appears to be. Although any degree of security is the fruit of human ingenuity, some tend to make the deep-seated error of jumping to rash decisions in judging fake news and extremist views. The overriding importance of government monitoring and privacy thus aim to crackdown on unfettered data collection activities by technology companies.
On the other hand, ageing populations or the “grey tsunami”—will only lead to greater demand for attention to how each individual group prefers to coexist with one another. In an economy that’s strained by global economic downturn, the gravity of the challenge is more complex than ever.
As such, the challenges span from work attitudes to diverse generational divides and preferences. Many companies find it challenging to cater to all these and to ensure productivity while managers mostly from the baby Boomer generation often find it difficult to manage the younger generation. Next however, is Generation Alpha, the most technology-infused demographic to date.
Following the recent overview on the two key subjects put together by MIGHT as succinctly summed up by the infographic, here are three key strategy considerations, as a concept, that are emerging in connection with the above subjects:
- The systematic interaction between every generation with each other needs to be modelled and tested for sensitivity and productivity.
- As digital technologies advance at dizzying speed, businesses need to place more trust in the younger generation or risk falling further behind.
- We need to act more thoughtfully about news, social media and data privacy in order to help the government improve regulatory effort to address the collection, handling and sharing of consumer data.
Last but not least, to learn more about the topic, you can read the original article here.
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