Nowadays we live in an era of risk and instability. Globalization, new technologies, geopolitical changes and the COVID-19 have combined to upend the business environment. The volatility of business operating environment has made the competitive advantages and once strong correlation between profitability and industry share almost nonexistent in some sectors. All these uncertainties pose a tremendous challenge for strategy making.
In contrast, sustainable competitive advantages are gained when a specific aspect of your business has an advantage set to last well into the future, such as unrivaled industry knowledge, innovation, business agility, a technological advantage and business with purpose.
Technology is helping reframe the business landscape. With the onset of the internet of things (IoT) and big data gathering powered by cloud technology, early adopters will gain an advantage that could be developed into a sustainable edge over the competition. Moving forward, information will be the key to success. Gathering, analyzing and implementing insights from information developed by cutting-edge technological solutions will help companies to forge a path to success. With business agility concerning with the adoption and evolution of values, behaviours and capabilities, these enable businesses and individuals to be more adaptive, creative and resilient when dealing with complexity, uncertainty and changes. The point is, every organization needs the right teams to accomplish the goal, but many organizations are finding it increasingly difficult to quickly find and develop talent with the most in-demand skills. They need to be focused on the reskilling and upskilling needed to be ready for what the future holds.
The 2021 HKMA Annual Conference will showcase some established and up-and-coming companies to share with the audience their unique stories. The Conference will also explore how some renowned companies transform their teams for growth and build a unique culture as a competitive advantage.