Companies with the ability to be flexible and adapt to the forthcoming technological innovation will be the companies’ domination the 4th Industrial Revolution. Entering that revolution, business owners understand that the future brings nothing but uncertainty and it is their responsibility to build the certainty back into their companies.
Companies are slowly changing. They are right in the middle of the old ways and the new ways, with the scale shifting towards technology, every day a little more than before, this is what signifies the right of passage from the 3rd Industrial Revolution to the 4th. Operating during these shifting times is proving to be much more difficult than what most business owners would have expected.
This is the main reason why a lot of companies will not make it through the 4th Industrial Revolution in one piece. Already, some old companies are giving up, calling bankruptcy. This, of course, leaves space for new companies to emerge. The idea of entrepreneurship is utterly connected with the industrial revolution. Especially due to the fact that entrepreneurship is one of the main factors that are causing the revolution.
Entering the new era as a whole company is difficult and things will only get more difficult as they move forward. Companies will need to be able to endure these inevitable, seismic, rapid changes. That is something that the company owners will be responsible to prepare. A leader needs to take responsibility and move forward, pulling everyone and everything with him.
Due to the Revolution that is fast approaching, only true leaders will be able to lead their companies through the difficult times and help them rise and the Revolutions new tycoons. But why is it that the 4th Industrial Revolution seems to be so much more difficult? It is because a new business model innovation seems to be getting introduced. That model demands a balance. It is not just about the simple products anymore and the profit they can bring.
It is all about innovation. The marketplace is changing, focusing more on the innovation of a product, not the price rate or the selling rate. Innovation is what will bring new products to the marketplace. Just think about the amazing capabilities of Artificial Intelligence. All those scientific researches that have brought forward cures for diseases and medicine to make our lives easier. And these are just two of the many innovative ideas that signaled the new revolution. Self-driven cars, computing in the Cloud, Blockchain, VR, 3D Printing. So many new ideas that came out of years of research, building up to the changes that have been happening.
But the future still remains uncertain. Even if things seem clear, nobody knows how the innovation will work. So many questions that have not yet been thoroughly been answered. Will there be more cross-sector activities? Will the sectors be less regimented? What kind of impact can we expect in the education and professional experience? How will the workforce change? What will businesses and organizations of the future look like?
The 4th Industrial Revolution will bring forth a tremendous growth potential in all the different industrial fields. It might be unknown what the future will bring but it will definitely be interesting. Some businesses will thrive. Other will fall. It all remains to be seen!