Technology & Growth

What Do We Need to Learn for the Modern Business Landscape

Patrycja Maksymowicz was invited to speak at the last EU Tech Chamber (EUTECH) Alliance Digital Panel.

Following the keynote address that stressed the importance of continual learning, among many things the panellists discussed why it is so important for organisations to review their models now and what are the most common aspects they should take into account and areas to prioritise.  

Is the need for organizations to re-examine their work models, the way they learn, the way they use tools in the workplace, and a healthy digital work environment, important? What are the most common aspects they should consider and areas to prioritize? 

7 March 2022                               

Author: Patrycja Maksymowicz

Is the need for organizations to re-examine their work models, the way they learn, the way they use tools in the workplace, and a healthy digital work environment, important?

What are the most common aspects they should consider and areas to prioritize? 

Our organisation's models have centred around the consolidation of employees under large organisations with centralized command systems for over a century.

As technology has pushed us forward, we are witnessing a dynamic shift. In our shift to what we call a digital or exponential era, we have created a chasm between the new tech we use as a mode of interaction, and the systems we have learned to operate, which are often no longer appropriate.  

As a result of this, we can divide businesses into three groups: those who understand and adopt the changes it brings to their lives and who thrive, those who are hesitant to adopt it and resist the changes, and those who stay oblivious to it. The latter will probably cease to exist or will not do well. 

We must ask ourselves as business owners, as leaders, is our organisation ready to adapt?

Even over century-old organisation models can be transformed into modern ones by adopting a different mindset, a new leadership style, and of course, a different approach to training design and delivery as well as perhaps reviewing the areas of interest or attention.  Many of the areas of focus for organisations that are now important and cannot be overlooked are different from a few decades ago. Consider retail with an eye towards sustainability. Take data management, data quality, and data security that are key to the success of all tech companies.

Educating and training people in these areas across the entire organization is important, not just at the top. It costs £1 to get the data right the first time, £10 for a correction and £100 for a mistake, but many businesses barely give a thought to the quality of their data since they do not understand its advantage or disadvantage.

All this must be taken into account, including how to design all this to ensure the business operates smoothly, growth is sustained, and the model can adapt to a dynamically changing environment.

In the wake of Covid, many people no longer work in offices, old company structures no longer serve their purpose, and the gig economy is on the rise, often within organisations. Today, hybrid teams, teams scattered across the globe working in different time zones, and contractors within their organizations are more common. With the new models, there are new challenges in onboarding new employees, too. Many teams, especially in startups, never meet in person.

The older companies are being reinvented, but new models are also developing, such as DAOs, which provide a unique structure for this creator economy, and many say they are the future of work.

There are many challenges in designing a new digital and flexible way of working. The framework conditions must be designed to fulfil the promise of the Modern Business Landscape.

It is therefore important to understand what benefits the employees and what no longer serves the purpose when deciding what to change to promote and strengthen inclusive participation across all verticals.

So far, what we thought was working, was 'keeping people in one place.' As we moved through the Covid pandemic, companies were trying to figure out what works best for them. In some, meetings were countless, in others weren't too frequent and their employees were left to their own devices. 

Thus, knowledge as a shared resource and value becomes increasingly important. 

Since we are working across time zones and across the globe, it's no longer about having people in the same room, but about having them on the same page. The best way to achieve this is by sharing resources, ensuring that they follow the same path every step of the way. This may seem simple, but what it means is making sure they understand the vision, the mission, why we are doing what we are doing, the purpose of it all, and their own impact and the importance they play.  

Wages have historically been used as a means of persuading and controlling labour. Although that is still the case, people now want to feel that they are a part of something bigger. We often recruit people for specific skills or to do specific tasks, but we see people willing to contribute to projects that are not necessarily within their work scope as part of this. If we empower them to feel that their contributions are important to the system, and most importantly, if they buy into what we are doing, then this will translate into better results overall.

This tendency also offers an opportunity to review the systems in which we gratify them for their work. 

Perhaps a good example of a new approach to take a look at are DAOs where contributors seek to create value or focus on the creation of value relying on a  decentralized framework in which stakeholders have true ownership of the entity.

It illustrates where people are headed and we can take some elements from this model to better understand what motivates and drives people, and how to remodel our organizations to better match the modern landscape.

What do We Need to Learn for the Modern Business Landscape

Keynote speaker David Seacombe shared on the value-driven leadership and new business operating models, panellists Patrycja MaksymowiczNadine Soyez and Lewa Abukhait.

The webinar was opened by Dr. Petra Nass, the Board Member of EU Tech Academy Alliance, Founder/CEO at Little Shop of Science and Founder of Women In Charge. Nedzad Piric, MBA, Ph.D candidate, Director of Digital Transformation/Smart City Alliance at EU Tech Chamber (EUTECH) delivered a comprehensive introduction of EUTECH, Benedikt Grütz, Vice President of the European Senate of Economy and Technology, and the Director of German Alliance at EUTECH provided the Tree Certificates to the panellists. Webinar moderated by Serdar Yucel, Director of Academy and Mobility Alliance at EUTECH.

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