I know it’s a bit early for end of year predictions, however, someone asked me what I thought so I figured I’d better not keep it a secret between just him and me.
Technology
Specifically, the massive shift towards subscription/cloud based applications which brings with it plenty of opportunity and plenty of risk. The more that goes into the cloud, the smaller your IT department becomes and the less expertise you have to choose the right product to get your expected outcomes. Not to mention the cyber risk issues--it will be no surprise when the next embarrassing breach occurs. And boy, don’t those little monthly subscriptions add up!
Forecasting
The level of embarrassment in organisations that have a heap of data and are doing little with it is increasing. More embarrassment will follow with hard questions being asked by boards and executive teams when those charged with turning this around struggle because they lack the skills to understand data and how to use it to provide insight and early warning signals. And what about those board members who want “summary in detail” but refuse to use technology for board reporting?
Culture
Not just culture, but the culture of greed. I am assuming here that the economy will continue to grow reasonably well. The longer between ethical exposés and the easier it becomes to make a buck; the faster organisations seek growth and the more short cuts taken; the more blind eyes will be turned and the bigger the organisational bubble of indefatigable hubris will become.
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Bryan Whitefield works with strategic leaders across all sectors to help organisations harness uncertainty – uncertainty is the strategic leader’s best friend. He is the author of DECIDE: How to Manage the Risk in Your Decision Making. He is the designer of the Expert Needs Advocates Program for support functions and the Persuasive Advisor Program for internal advisors. Both can be booked individually or in-house. For more information about Bryan, please click here.
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