Key to Thrive in Uncertain Environment

Presenter Information

Tim Ruhupatty, Adventist International Institute of Advanced Studies

Location

Chan Shun Hall Room 227

Start Date

14-6-2022 11:15 AM

End Date

14-6-2022 12:15 PM

Comments

The fourth industrial revolution (4IR) brought with it digitalization that affects the way we do business. The 4IR led to digital-based business models, digitalization of products and services, and digitized customer access. The digital transformation that is taking place is the result of the advances in computer and information technology. The fast advances in computers and information technology have created a fast-changing business landscape, leading to uncertainty. Organizational resilience is enough to maintain the status quo because it deals with the ability to absorb impact and recover. It tends to favor the historically proven approaches. In contrast, organizational agility is customer-focused and thinking outside the box, leading to innovation, shorter production, and more risk. An agile organization has a system that adapts and adjusts to a changing environment; therefore, better positioned to take advantage of opportunities presented by a highly uncertain environment. An agile organization is characterized by scanning the business environment and assessing its alignment with organizational goals and strategy, capacity, dimensions, and organizational agility.