What makes a company “future ready”? The author analyzed top companies by revenue across four sectors, measuring seven equally weighted factors, then analyzed what leading companies were doing differently.
They discovered industry-specific insights, which also informed more universal lessons. First, don’t play zero-sum games with disruptors. Looking at the financial industry, companies that explored new tech early were able to develop partnerships and exploit that tech more quickly. Second, when everyone is digitizing, only going deep sets you apart. Learning aggressively, with a strong viewpoint, helped retail companies find opportunities to differentiate. Third, in a high-speed sector, you have to branch out fast. Looking at the tech sector, the author saw the importance of knowing what kind of decision you’re making, so you can make it quickly.
The pandemic put companies under a tremendous amount of stress. It revealed who is ready for the many changes the near future will bring and who is not. In times of crisis, this type of readiness doubles as a source of resilience. It reflects how companies can adapt, the robustness of their internal capabilities, and how capable of finding new sources of growth they really are. And the more uncertain the world seems to be, the more important for companies to become future ready.