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Technological shifts bring new challenges through data and analytics, artificial intelligence and distributed ledger technology (blockchain), and these can all be identified as components of the digital transformation that lies ahead.
Another challenge in this space lies in regulation and legislation. Activity in this aspect is ramping up with cybersecurity threats, changes in tax codes and regulatory easing.
While dealing with these external strategic issues, leadership teams are addressing cost containment and beginning to develop people-based strategies to prepare their workforces for the future. Organisations have no choice but to use these people-based approaches to implement complete Business Transformations based on the technologies of the future.
To thrive in this sector in the future, organisations will need to transform their businesses and in some cases completely rethink their place in a supply chain which has become, at times, adversarial but will, in the future, be led by those who collaborate openly.
Contact LBS today for a no-obligation conversation about how our programmes can help your organisation to be more efficient, effective, and collaborative.
Insights
3 Risks Irish Manufacturers Must Overcome & How
How do you know if your business needs to undergo a transformation? What are the signs to look out for?
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Impact
Business Process Improvement
How we helped this leading insurer meet their Quarterly Account Valuation Requirements through Business Process Improvement
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The Way We See Things
A business is made up of a collection of inter-dependent units. Acknowledging and addressing each unit is the key to implementing impactful, long lasting results.
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“Out of clutter, find simplicity.
From discord, find harmony. In the middle of difficulty lies opportunity”