Rapid economic changes demand business leaders’ attention. Global and digital competition, along with unpredictable events like climate shifts and cybercrime, disrupt industries. The solution lies in embedding transformation as a core competency.
This “total enterprise reinvention” focuses on customer needs, adaptable talent, strategic partnerships, and ongoing refinement. A transformative culture becomes key for agile responses to unforeseen challenges and opportunities.
The accelerating pace of change in local and global economies puts the onus on business leaders to guide their companies through often choppy waters.
Increased competition is coming from all directions, firstly, from globalising organisations encroaching on native markets. The scale of this challenge is apparent in World Trade Organisation (WTO) data which reports international trade by value has “ballooned by almost 400 times from 1950 levels”. The chart shows trade growing particularly rapidly since the 1995 establishment of the WTO.
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