Digitization is the process of converting information into a digital format. The result is the representation of an object, image, sound, document, or signal obtained by generating a series of numbers that describe a discrete set of points or samples.
Enter third-wave economics; How the pandemic reshaped the dismal science As part of his plan for socialism in the early 1970s, Salvador Allende created Project Cybersyn. The Chilean president’s idea was to offer bureaucrats unprecedented insight into the country’s economy. Managers would feed information from factories and fields into a central database. In an operations room…
In this episode, Ron and Joseph discuss supply chains and digitalization. Certainly, recent events and the disruptions that have gone with them have illuminated the need and benefits of digitalization. And it’s no longer just about digital documents required for moving products from one point to another, but to use digitalization – in all of…
Whether political turbulence, economic challenges, or biological threats, we live in a world that is increasingly less predictable and where volatility, uncertainty, complexity, and ambiguity (VUCA) is the new norm. This has revealed vulnerabilities in the traditional business models and the manner in which organizations operate. Doing business as usual is no longer a viable…
The COVID-19 pandemic is transforming the way businesses operate faster and more profoundly than possibly any other event in the history of the world. For instance, in 2019, if we were to tell business leaders that the bulk of their white-collar workforce would be working from home for an extended period of time, the echo…
The coronavirus pandemic’s office exodus risks diminishing company culture unless leaders take action to support it. Within just a few weeks earlier this year, the COVID-19 pandemic triggered a massive shift to remote work that may change the office as we know it forever. Many large companies are urging employees to work from home for…
To remain relevant and resilient, companies and leaders must strive to build business models using three key components for growth. In the face of a global health and economic crisis, many traditional companies have suffered tremendous losses, and some have shuttered their doors. Those that heavily rely on physical capital (for example, stores, goods) and…
