Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts

Life Next: How Our World Could Change Post-Pandemic

Whilst exponential change has been part of our reality for some time, the Covid-19 pandemic has given renewed impetus for enterprise and government to consider the future, asking questions like: What’s next for work-life? How might the crisis re-energise businesses and business models? And how might the way we live at home change in the future? 

Marian Salzman is Senior Vice President, Communications at Philip Morris International, a world renowned trend-spotter, and a contributor to the Fast Future book, Aftershocks and Opportunities 2 - Navigating the Next Horizon. The title of her chapter is, "Life Next: How Our World Could Change Post-Pandemic".

Listen to the podcast on YouTube by clicking below or on the Anchor podcast platform

You can learn more about Marian and her work by connecting with her as follows:
Website: mariansalzman.com
LinkedIn: mariansalzman
Twitter: mariansalzman

For information about the book Aftershocks and Opportunities 2 – Navigating the Next Horizon see the Fast Future website.

Image Source: https://pixabay.com/illustrations/man-silhouette-think-window-4319064/

Post-Traumatic Growth: How Might Business Change for the Better?

In the recently published book, Aftershocks and Opportunities 2 – Navigating the Next Horizon from Fast Future Publishing, Richard Freeman, CEO of Always Possible explores how the Covid19 pandemic could become a catalyst for businesses to embrace bigger picture thinking and smarter localized decision-making.

To consider the question, how might business change for the better in the post-pandemic period we considered:

  1.  The enablers and hurdles to British business "thinking big".
  2. The role that collaboration might play in the post-pandemic period and how understanding of collaboration might change.
  3. How “fluid skills” could make a difference in changing business for the better.

Click below to listen to the podcast on YouTube or on the Anchor podcast platform

You can learn more about Richard and his work by contacting and connecting with him as follows:

Email: richard@alwayspossible.co.uk
Twitter: always_possible
LinkedIn: rpfreeman
Website: alwayspossible.co.uk 

For information about the book Aftershocks and Opportunities 2 – Navigating the Next Horizon, see the Fast Future website. 

Image Source: https://pixabay.com/illustrations/hand-light-explosion-expansion-4372144/


Informing Choices Mini-Pod – The Future of Internet Entrepreneurship

Two things seem destined to play and increasingly significant part of life, society, and business into the future; entrepreneurship and the Internet. Both will be critical as society navigates a new landscape post pandemic. But how do these issues come together and together. How might they impact the future?

To talk about The Future of Internet Entrepreneurship, Internet entrepreneur and international speaker Suraj Sodha and I discussed:

  • The importance of entrepreneurship to society in the future
  • The future evolution of the Internet
  • The role that automation might play in the future of entrepreneurship and the connection between new business ideas and job-creation
  • The technologies seen as critical enablers to the future of internet
  • How Internet entrepreneurship could contribute to a more human future

You can listen to the podcast on You Tube by clicking below or on the Anchor podcast platform, here


You can learn more about Suraj and his work on LinkedIn
 and his website

Image Source: Gerd Altmann https://pixabay.com/illustrations/entrepreneur-network-idea-5165842/

Informing Choices Mini-Pod - The Future of the Way we Work

The future of work is one of those subjects that has been covered regularly by futurists and organisational development specialists over the years. But the pandemic has brought many developments into where and how we work into sharp focus; increasing automation, home and remote working versus office based, for example.

To talk about The Future of the Way we Work, strategic foresight and change leadership advisor Rob Caldera joined me on the podcast in which we addressed the following questions:

  • In the aftermath of the 2020 pandemic, how might companies change the way they work so that they are more resilient and responsive to sudden, disruptive events?
  • Will remote work become the norm rather than the exception in the post-pandemic future?
  • What might become of corporate culture in companies composed mostly of contingent workers who work remotely in distributed, autonomous teams?
  • As AI becomes a necessary technology to enable the agility needed to thrive in the future, how far might businesses be willing to push the use of this technology?
  • What are the implications of these observations to leading change programs now?

You can listen to the podcast on You Tube by clicking below or on the Anchor podcast platform, here


Learn more about Rob and his work on
LinkedIn, on his website, and follow him on Twitter

Image Source: Alexas Fotos https://pixabay.com/illustrations/office-work-vacations-recovery-1548297/

A Scenario: A Very Human City in 2035


To many, the coronavirus pandemic of the early 2020s came out of the blue, although many commentators suggested that in fact, it didn’t. Futurists, among others, had warned of a future pandemic on many occasions in the past and governments had even held exercises to understand the potential implications. In the event, it was a case of experimenting and learning on the hoof to cope with the tension between political, economic, social, and technological drivers. But the pandemic also accelerated a number of drivers already in train; the decline in physical stores, the growth in on-line retail, the growth in home and remote working, the acceptance of on line meeting and collaboration tools, and the growth in automation.

This scenario looking back from 2035 explores a number of plausible developments that might change how we live our lives.

Home

The gentle vibration of my Sleep-Easy mattress slowly entered my consciousness at the pre-set time. I open my eyes to see the dawn breaking; a piece of emerging daylight against the backdrop of the Lake District’s Langdale Pikes; the sound of Stickle Ghyll murmuring over nearby rocks and the more distant sound of the ghyll dropping down one of the numerous waterfalls filled the room with increasing volume.

The combination of visio-walls and audio projection usually put me in such a good frame of mind for the day ahead. Like much of the other technology installed in the apartment created in the old Selfridges store, refurbished for “contemporary living,” I thought the novelty would wear off; but not at all. I am able to choose the scene and sound combination in each room to suit my mood and the time of day.

When I first viewed the show apartment using the estate agent’s virtual reality experience system, I was still dubious about choosing a living space in the middle of the building, without windows, and with a bio-access system. Direct natural light and a real view of the outside world came at a premium that was a little out of my price range. But the visio-walls and audio projection system throughout the apartment gives me access to an almost limitless range of outlooks. As it turned out, it was a gamble worth taking; I love my apartment, and the iconic building I live in. 

The Building

The building has nine storeys: two levels below ground hosting services, utilities, recycling, energy storage, and data services; the ground floor providing resident reception, building security, a number of communal and private meetings spaces; five residential levels; and the communal roof terrace and garden.

Inside the building the hallways and landings are provided with both powered and natural light. During the day, specially designed sunlight tubes draw light into the heart of the building; each one topped with a funnel shaped mirror that tracks the sun across the sky during the day to maximise access to natural light. The inner surfaces of the tubes are in effect projection surfaces and automatically project artificial light into the building when needed.

The building is mostly self-sufficient when it comes to energy generation. Electrical power is provided through a mixed portfolio of technologies with solar, wind, and by harnessing the piezoelectric effect from surfaces inside and around the building. Excess energy is stored in the battery bank in the basement and redeployed when required. Artificial intelligence (AI) manages the energy generation and distribution process; matching production with demand.    

Starting My Day

Making my way through to the kitchen-diner, Martin—my at home personal digital assistant—greets me, using exactly the right words, phrases, and tone of voice that matches my demeanour. Having switched the kettle on for my morning cup of tea—some things just don't need to change—Martin reads my messages to me. He prioritises my business and personal messages based on my completed and planned work activities and my recent personal conversations with family and friends. Using the same information, he tells me about relevant social media activity across the platforms I subscribe to. Martin knows my work and personal interests and so also filters the news feeds, providing me with a personalised morning news and sports compendium.

I move into the living room and asked Martin for the office visual configuration. I am no techno-geek but the ability of my room to reconfigure the visio-walls and my desk for work; the lighting, computer configuration, wall projector, work related news and information feeds still make me smile.

I started my work by reviewing my prioritised activities. Reviewing questions from the presentation on asteroid mining I gave the day before was top of the list. Having indicated my responses to each question, Martin set about contacting each person with my reply. There were also additional materials from the underlying research that needed to be integrated with the slides, a task to which Martin is again well suited. The system held all the information needed to meet my client’s requirements and that being the case, he could distribute the materials in line with the brief.

In addition, 12 of the people attending my presentation were seeking to connect with me. I asked Martin to go ahead with all those in relevant business sectors who also have more than 500 of their own connections on social media. I enjoyed giving the presentation very much—not just for the content—but the fact that it was the first time I had appeared as a hologram at the event venue, without leaving my living room/office. Twenty-three percent of the attendees were also represented by their holograms; the remainder were present in person. The ability for speakers and delegates to interact as if we were all at the event in person, was incredibly useful. I can see this style of event changing the events sector significantly and rapidly.



A City Transformed

The changes to the historical retail heart of the city seemed irreversibly permanent. Increasing automation across the white collar jobs sector and new working practices through the 2020s had rendered many city-centre based service jobs redundant. And yet, the re-emergence of residential communities in the heart of the city seemed to create a much more human place to live. The pace of change has been astonishing; an explosion of science and technology developments on the back of the Covid-19 pandemic has driven business and social change. But thankfully—and arguably just in the nick of time—government and local authorities had for once, harnessed the opportunities.

Owners and developers of a significant number of the taller buildings across the city gave the south facing facades over to vertical farming, providing fresh produce often to those people living and working in the buildings concerned and across the immediate locale. There are also operational synergies in the agricultural process and work and living spaces within the buildings. Automated irrigation systems and climate control technologies monitor and adjust humidity, temperature, and airflow so that the building environment is optimized both for human occupants by day and plants by night, to satisfy workers and optimize yields, respectively.

A similar contemporary cottage industry feeling was emerging as the cultured meat / in vitro meat sector began to grow. Time will tell if manufactured meat will really take over from the real thing, but slowly and surely the new products are gaining ground on traditional and increasingly expensive natural meat.

The introduction of autonomous electronically powered transport in the centre of the city was game changing. Five short years separated the banning of petrol and diesel vehicles and the banning of manually driven cars, vans, buses, and trucks in 2030. Many streets were designed with wider pavements and sidewalks, taking advantage of virtual trackways which were introduced into the road surface allowing pedestrians and traffic to occupy the same space. The transformation of Oxford Street and Regent Street into garden avenues with autonomous traffic making its way alongside social green spaces was extraordinary. And of course air quality was measurably improved.


My Half Day

With my work commitments complete by midday, I decided to head for the Trafalgar Square Courtyard. The square really isn't that far from my apartment but I thought I would take a ride share-pod there and stroll back.  As I made my way out of the building, Maggie, building receptionist / security AI robot greeted me cheerily. I waited 30 seconds for the Local Motors 3D printed ride share-pod to arrive. Already aboard were two other passengers. I recognised one of them and we exchange pleasantries; sharing perspectives on sports, the weather, and work. Some things—the human things—really don't change.

The retail courtyard at the redeveloped Trafalgar Square is a popular draw in the city. It provides retail and entertainment experiences for those that still favour going out. One of the truly innovative features is the 4D printed sky canopy which is suspended from a series of eight towers above Nelson's Column. Completely covering the square, the canopy changes shape, form, colour, and transparency depending on how the space beneath is being used.

The redeveloped space is as much a draw for residents as it is for visitors, just as it had always been. New technologies had helped to create a range of retail experiences with “pick up and walk out” (the Amazon-Go concept from the 2000’s that many retailers subsequently adopted), permanent digital wall stores, and space for 3D printed “Pop Up” stores.

Increasingly, experience was crucial in the new world of retailing with virtual reality and augmented reality immersive opportunities to try before you buy—including the ability to touch, taste, and smell products—a standard feature of the customer experience. Many retailers provide delivery by autonomous vehicle or drone. Dedicated drone delivery areas and personal drone drop off areas are common place. The vehicles and drones themselves are connected with others in the vicinity with ground and building sensors to ensure safe and efficient traffic management.

Having placed two orders, I headed home, reflecting on the changes I had seen between 2020 and 2035. 


Reflection

The transition between the analogue world of the 2010s to today’s digital world had been difficult as many had predicted. But the potential implications of accelerating automation, changing work practices, and new technologies brought government, academics, pressure groups, business, and futurists together to craft vision, policy, and strategy for a very human future.

The retail failures of the late 2010s accelerated through the pandemic period and consumed some of the biggest names in the sector. They were just one symptom of wider economic and social change gathering pace in the post pandemic period. As a result, it was a matter of some urgency that local authorities looked at new ways of invigorating town and city centres.

As retail businesses reduced their physical store space or left the shopping areas of towns and cities all together, developers took over the many historic buildings and with a favourable planning landscape and a raft of new building technologies (robotics, 3D printing, new materials for example) set about converting some of the most prominent historic buildings to residential use. This action helped preserve the city’s architectural heritage by preserving the exterior facades of the buildings but giving a new lease of life to the interior.

The rapid and significant investment in technology infrastructure including connectivity, information integration, AI, the development of a truly smart city, but most importantly, adopting new mind-sets and new ideas of leadership across government and business have been critical in avoiding what could have been a social disaster, and have instead led us towards a more human future.

Image Credits:

Human City: Mabel Amber / https://pixabay.com/photos/people-friends-couples-park-3755342/
Autonomous Mobility: Mystic Art Design / https://pixabay.com/photos/auto-vehicle-forward-future-2651594/
City Transformation: jplenio / https://pixabay.com/photos/london-skyscraper-the-scalpel-sky-3833039/
Reflection: Michael Gaida / https://pixabay.com/photos/architecture-skyscraper-1727807/

The Post-Pandemic Future of Commercial Real Estate


How might accelerated growth in online retail and home working drive the repurposing of commercial real estate?

As the world continues to come to terms with the Covid-19 pandemic, I can’t help but imagine that two trends we see accelerating—growth in on-line retail and working from home—are set to potentially result in the transformation of city and town centres across the country.

Retail Revolution

Observers would point out that the trend for customers to increasingly focus on internet based shopping rather than attend a physical store has been with us for some time. While there remain successful retail businesses in the physical space, the squeeze is real; just look at the well-known names that have gone to the wall over recent years.  The pandemic has accelerated the change in our shopping habits; from walking through the front doors of our favourite store, to click and collect services or home delivery via on-line shopping in pursuit of personal safety and convenience. In addition to the giants of the UK retail sector, even smaller businesses—including restaurants and cafes—have found a way to provide home delivery and click and collect services.

Multiple factors such as: 

  • Evolving consumer habits
  • Automation of store check-out processes and stock management
  • The imperative to cut costs in an uncertain operating environment
  • The rise of new store concepts such as stores without physical check-outs
  • The use of immersive technology so customers can ‘try before they buy’ without ever leaving home
  • Reducing need to maintain stocks in multiple retail outlets

all combine to question the viability of a similar level of retail floor space we have seen even in the recent past.

So what happens to vacated real estate in cities and towns as traditional players move into highly automated ‘dark stores’ based out of town, with limited convenience and ‘show stores’ in urban centres? An excess of retail space in major cities and towns will depress prices and act as a driver for the repurposing of buildings. 

Home Working for Profit and Convenience

One thing many people have learned to do throughout and after the period of national lockdown is work from home. Whilst the degree of productivity or otherwise can often be associated with each worker’s family situation, there is little doubt that after lockdown experiences many employers will take a critical look at their office space needs. Can enterprise continue to function without the people coming physically together in a central location? Are the collaboration and video conferencing platforms robust enough to support the employer’s and employee’s needs? Will employees value the time they can re-claim from not commuting? Clearly the answers to these questions will vary from person to person and between different enterprises. But, has the pandemic become a tipping point for many employers to move out, or at least reduce their presence in expensive city-centre locations?

Clearly many workers do feel that the need to always be in the office no longer exists. Perhaps there is a need for teams to come together for particular events but as competence in the use of on-line tools has improved, many people will not feel or have the need to travel to a central location.

Whilst working from home is a practical option for many, it isn’t a realistic option for some. So perhaps commuter towns will see a number of serviced office operators enter the market to provide for localised remote working; perhaps occupying real estate previously used as a supermarket.

Meanwhile, an excess of office accommodation could emerge in major cities and towns that will depress prices and act as a driver for the repurposing of buildings. 

Combinational Impact

We already see projects designed to repurpose unused office accommodation for residential use. So let’s imagine for a moment that we see vacant retail and office space in significant quantities. Perhaps the repurposing can be accelerated to ensure that:

  • Residential communities form in city and town centres to create human focused environments which in turn changes the need for mobility.
  • Small community focused businesses are allowed to grow and thrive to serve their own local populations.
  • Old housing stock can be retired quickly and the component materials recycled were possible, and sites turned into green spaces.
  • Local authorities are able to provide suitable accommodation to help address the issue of homelessness.

The opportunity to improve the quality of housing stock with a positive knock on impact to peoples’ health and wellbeing is taken.

To help enable this transition, we might expect that regulations are designed to ensure that repurposed retail and office space is converted for residential use in a way that minimises environmental impact through energy-efficient materials, and that new housing can be provided at an accelerated rate.

Clearly there are issues of the funding required to facilitate this transition. But new technologies such as autonomous mobility, artificial intelligence, 3D printing and construction, new materials, and immersive technologies like augmented and virtual reality, together with the consumer habits and home working trends that have accelerated through the pandemic, could prove to be the tipping point that enables a transition to more human cities and towns.

Image Credit: photosforyou - https://pixabay.com/photos/company-stock-industry-3368699

Business Diaries Podcast – My Business Story


I had a great opportunity recently to share my business story with The Business Diaries podcast thanks to Lisa Settle and Islay O'Hara.

By way of context, the Business Diaries is a quarterly storytelling event where Lisa and Islay uncover the stories that shape business owners. The podcast then allows the hosts a chance to explore each entrepreneur’s story in more detail, focusing on a career curveball.

You can listen to my story including how a curveball influenced my journey here

The Post-Pandemic Future Recalibrated


As our collective attention begins to turn towards the future and the post-pandemic period, many questions arise. Here I would like to address two: How do we navigate to a new landscape? And, how should we consider the next futures of organisations and work?

For this article, I am drawing on the new book, Aftershocks and Opportunities – Scenarios for a Post-Pandemic Future (Talwar, R., Wells, S., & Whittington, A. (Eds.). (2020). Aftershocks and Opportunities – Scenarios for a Post-Pandemic Future. London, Kent: Fast Future Publishing) for which I am a co-editor and contributing author.

Navigating a New Landscape

If we think about the world as we came into the COVID-19 pandemic, we were constantly talking about a more complex, multifaceted world. There were issues around how globalisation was working, tensions around economy and trade, ongoing regional tensions and conflict, and as a society we were coming to terms with increasingly pervasive technology.

The emergence of COVID-19 added a new dimension to those complexities; limiting economic activity, the rapid creation of funding mechanisms for businesses and furlough schemes for employees, challenging the notion of globalisation as nations sought supplies of critical products from local producers, and also the use of pervasive technology to monitor individuals’ health as part of track and trace strategies.

The pandemic and governmental responses to it have highlighted issues of sustainability—the UN Sustainable Development Goals are a wonderful template to help us think through the different dimensions of sustainability. The goals cover health, cities and communities, jobs and economic growth, all of which have been brought into sharp focus during the pandemic. One of the interesting factors to have emerged has been the positive impact on the environment through lockdowns and resulting travel restrictions. There are some interesting lessons both on the importance of sustainable economics and a sustainable society together with the positive impact that we can have on the environment if we choose to take action to limit harmful emissions.

As we move through the pandemic a critical question relates to not wasting the opportunity of a crisis: should we seek to restore the old order or work toward a total system reboot? On the one hand, many people talk about the folly of going back to the way we were; returning to the old normal. Equally, there are many complications and uncertainties about the impact of a total system reboot. So perhaps “radical and revolutionary” is beyond reach for now, and maybe rapid evolution will prove to be the name of the game.

The love of facts has become a critical issue; from understanding the underlying assumptions built into models supporting governments’ policy decisions designed to cope with the pandemic to information shared on social media platforms both knowingly and unwittingly false. Many people fell foul of dangerously inaccurate information in the early stages of the pandemic, sharing it across their networks under the misapprehension they were helping their friends and contacts. At the other extreme we have seen leaders make outrageous statements of their administration’s handling of the responses to the crisis.  Going forward, there will be a strong desire to communicate consistent and accurate information if we want to successfully adjust people's behaviour in future lockdowns, for example.

Government crisis responses have come into sharp focus as the degree of preparedness has varied significantly from country to country. Whilst some countries have fallen back on previously developed plans for their responses, others have reacted quickly to the pandemic and put some amazing mechanisms in place that would under normal circumstances go against the political doctrine of the government in power. But it does cause us to question how prepared we should be for major disruptions in the future.

Preparedness leads into responding with resilience and what we have seen is governments taking different views about securing supplies of critical products (ventilators, medication, and personal protective equipment, for example) which could change procurement decisions and supply chains in the future as home production and warehousing is seen as more important than cost savings of  “just in time” inventory management. Resilience to unexpected shocks will be critical, at both the governmental and the enterprise level.

The Next Futures of Organisations and Work

Organisations need to be more “future proof” and resilient to shocks and disruption. The most future proofed organisations work on three time horizons in parallel:

  • The first is a need to ensure operational excellence, to win the race for the current year by meeting commitments made to stakeholders.
  • The second time horizon is when we take a step back and we search for future growth. We look out one to three years perhaps—typically called strategic planning—and extrapolate the trends that we see into the future. This gives a sense of confidence that we know how the near term future is going to play out.
  • But future proofed organisations also work on a third time horizon in parallel, looking four to 10 years into the future;  trying to understand the future drivers and get a sense of the weak signals emerging that could help inform new views of the future. The objective here is not necessarily to take specific action now, but to build preparedness about policy, strategy, and future investments. Foresight provides valuable insight to the potential reshaping of our business and business model so we stay relevant in the eyes of customers and clients.

Adopting future-proofing processes is part of accepting a mindset challenge and part of changing organisational DNA. The choices here seem to be playing by the current rules; do what we’ve always done, so we get what we’ve always got; or creating and playing by new rules, innovating to create disruptive ideas in your chosen market place. The issue here is that by aiming to get what we’ve always got, we stand still. Or do we? In the meantime the market progresses, quick thinking existing competitors and new competitors come into the market and take share from us. Aiming for the status quo is tantamount to moving backwards. The challenge for future success relies on increasing innovation, creativity, adopting digital technologies, creating a new culture and imbed behavioural change that may acknowledge heritage but that doesn’t restrain the enterprise.

Mindset then throws up a challenge of achieving extraordinary leadership. In the past we have found consensus on the way ahead and have been able to regard the future with manageable levels of uncertainty. This is the realm of ordinary management. Increasingly we are unable to reach consensus about the way ahead, in part because the external environment is increasingly uncertain. This is the realm of extraordinary leadership.

Our next leaders will need to be capable of imagining and experimenting their way to the future. Extraordinary leaders will have a new configuration of existing stills at their disposal including foresight, systems thinking, competence in working with uncertainty and complexity, understanding the impact of exponential change on employees and those around them, developing and enhancing relationships, collaboration, communicating with clarity, exhibiting empathy and cultural and situational awareness. Extraordinary Leaders will also be digitally literate with the ability to understand and pose the right questions about the potential and challenges of introducing new digital technologies to the enterprise, and be aware of the potential impact of those technologies on people, on work, on jobs, and on society more broadly.

Education and training systems need to take account of digital literacy, of what are often called “soft skills,” and new ideas of leadership. As automated technology takes on more of the tasks that people have focused on in the past, we need to ensure that education and training refocuses on those skills that make us human and allow humans to make a significant difference to the enterprise. And that means rethinking work; not just the work we do, but the culture at work, the degree to which we are going to continue to work remotely, and the empowerment and trust that organisations and leaders will need to exhibit in managing and leading people effectively in their new-look enterprises.

Summary

For me, there are eight critical themes that emerge; four each from Navigating a New Landscape and The Next Futures of Organisations and Work.  They are:

  • Understanding the context for how we got to where we are and how it informs the future
  • Creating, enabling, and embracing cycles of experimentation and learning
  • Focusing on sustainability and ensuring that when we think of sustainability it is in a balanced context taking in the economy, social issues (health, inequality), as well as the environment
  • Communicating with clarity and enabling dialogue to help understand the nature of change and what it might mean for people
  • Adopting a new mindset that allows us to un-package what's been successful for us in the past and consider what needs to change for us to continue to be successful in the future
  • Adopting a new package of leadership skills and exploring what it means to lead
  • Educate, train, and learn for a new future; building on the past but not being constrained by it
  • Rethink work; what we mean by work, how jobs might change, and how we look at the role that humans have in the context of using increasingly automated systems.

As other commentators have said, it would be very careless to waste the opportunities presented by such a crisis.

 

Click here to watch a video of a presentation recently delivered by Steve on behalf of the Institute of Leadership and Management.

Click here for more information about the book Aftershocks and Opportunities – Scenarios for a Post-Pandemic Future

Email steve@informingchoices.com if you would like to discuss Steve presenting these ideas to your team or at your event.

Image Credit: Alexas Fotos / https://pixabay.com/illustrations/office-work-vacations-recovery-1548293/