Event Title
Key to Thrive in Uncertain Environment
Location
Chan Shun Hall Room 227
Start Date
14-6-2022 11:15 AM
End Date
14-6-2022 12:15 PM
Jun 14th, 11:15 AM
Jun 14th, 12:15 PM
Key to Thrive in Uncertain Environment
Chan Shun Hall Room 227
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.