Businesses have never before been challenged by the force of global changes as they are now. The dawn of digital transformation, the growing power of emergent economies, and globalization are all fueling a fast paced global disruption in the world of business. Where financial growth was the single focal point for businesses some time ago, today they strive for agility and adaptability to change too.
According to experts, 85% businesses around the world are undergoing a digital transformation to keep up with the global digital disruption. However, the research also says that only 7% may really be considered leaders in digital transformation. “In today’s world, Digital transformation is not disruptive for a business, but complacency is.” Says Mr Raj Darji, Founder & CEO, Aarav Solutions
At Aarav Solutions, we believe that change is the only constant. To survive in this era of global disruption businesses need to be nimble and receptive to new ideas. It is no longer enough to keep in step with the changes in our business environment; in order to prosper, businesses must be one step ahead of change. In our blog post today we share some insights about the challenges faced by businesses and the art of succeeding in these transformational times.
1) The positive side of Global Disruption
Global disruption is a term that triggers a negative interpretation by many. The alarming rate of technological change and the changing nature of globalization are often perceived as threats. As a business, Aarav Solutions always strives to understand all aspects of a challenge. To us global disruption is an opportunity to expand our horizons as much as it is a challenge.
Organizations which can envision a new future for themselves by embracing digital transformation and finding profits through digital products will always be one step ahead of the disruption.
2) Broader perspective, narrower focus
One of the key aspects of strategy in the face of global disruption is not losing sight of the bigger picture, as you focus on specific challenges. Strategy experts at Aarav Solutions emphasize on keeping pace with global trends and industry developments while we concentrate on day to day efforts of keeping up with business challenges. “Every business must envision a new future for themselves keeping global disruption in mind. This is the big picture you must never lose sight of.” – David Cook, Director @ Aarav Solutions.
3) Choose your battles wisely
In this age of global disruption, it can be unnerving to balance business growth with the on-going changes in the business world. At Aarav Solutions we give a lot of importance to prioritizing the challenges we need to face and recognizing the waves of disruption that affect us more than other industries and/or economies.
It is imperative for a business to recognize which are the transformations that must be dealt with on an immediate basis and which challenges of global disruption may affect them over a longer period of time. Prioritizing business transformations leads to sustainable growth.
4) Frameworks and Connections
Fast paced digital transformations, economic changes and industry trends create a chaotic business environment for everyone. The Aarav Solutions team creates a framework that everyone must abide by, thus achieving our own order to the chaos. There are three main aspects of global disruption that must be mentioned here:
- Technology – Digital transformation and fast paced technological innovation are invariably the most important factors fueling global disruption. In the information technology industry, success eludes those who fail to keep pace with technological innovations and trends.
- Globalization – Even though globalization can hardly be considered a new aspect of the changing business environment, at Aarav Solutions we understand that the nature of globalization changes with time. The latest trends reflect that globalization is now a lot more data driven and focused on emerging markets.
- Demographics – People and populism is an aspect that has challenged businesses since the advent of trade. Whichever market a business forays in, a close data driven study of demographics is key to a successful venture.
Aarav Solutions is a global product engineering and IT Consulting Services Provider. Since our inception in 2012, we are focused on ‘Driving Horizons’ for our stake holders viz. employees, customers and partners with innovation and delivery excellence. Our clientele comes from a broad array of industries – Telecommunications, Banking & Finance, Government, Power and Utilities among various other B2B segments. We have our R&D offices in India and the USA. We are also present across the globe in South East Asia, Australia and MEA regions and we have successfully helped organizations in their digital transformation journey.