Setting clear goals, analyzing the business' current situation, and making a plan for how to move forward are all parts of this process. Strategic planning helps businesses stay ahead of the curve in a world where things change quickly by allowing them to predict and respond to new opportunities and challenges.
To ensure flexibility and adaptability in the digital age, strategic planning must incorporate the design of modular and composable systems. If we don't rise to the level of our goals, we will fall to the level of our systems.
- Modular systems are made to be flexible and easy to adapt, so businesses can add or remove features and functions quickly and easily as needed.
- Composable systems are built so that they can be used more than once and work with other systems.
This approach accelerates the ability of businesses to combine diverse components and technologies to create new solutions. By implementing these strategies, businesses will be better able to respond to market and customer needs changes.
Strategic Planning for the “Future of Work - FoW”
The Future of Work (FoW) is a critical topic for all organizations, large and small. Because the future of work is the blueprint for how work, workers, and the workplace will evolve in the coming years. The Future of Work is a strategic road map that aids in long-term understanding of the business vision while also providing a positive outlook for the company owner and investors.
Every year, technology advances, bringing new innovations and revolutionary products. Some of the brightest minds are working on the next piece of technology that will completely change the way we lead our lives. It may appear that scientific progress is steady, but the last half-century has seen vast technological advancement. If a company wants to survive in the future, its leaders must understand how the end of work will affect their workplace.
Experts have outlined various components in models explaining the future of work, but most agree on five basic elements to consider: what is the blueprint for work, how work is done, who does work, and where and when work is done.
What is the blueprint for the Future of Work?
A strategy or set of rules outlining how work will be organized and carried out in the future constitutes the blueprint for the future of work. This could involve implementing new technologies, making adjustments to established organizational hierarchies and structures, and implementing novel working practices like flexible or remote work options. The requirements and objectives of the organization, the sector in which it operates, as well as more general societal and economic trends, will determine the specifics of the blueprint for the future of work. The use of automation and artificial intelligence, the adoption of new work models like distributed teams or gig work, and the blending of work and personal life are some of the crucial factors that may be incorporated in the blueprint for the future of work.
An incremental approach to modular and composable systems can be supported by a dynamic intake leveraging a PRD to define user needs and goals. A Product Requirement Document (PRD) is similar to a high-level blueprint for a new project or partnership because it allows a person to quickly see the strategy and picture the results. A PRD does, in fact, effectively communicate all of a project's most important details. Therefore, a reader who has no prior knowledge of the project can quickly understand its objectives, specifications, scope, schedule, and financial constraints.
How is the work done?
This element focuses on digital technologies and tools and their capabilities. Tools can range from CMS (Content Management System) to CRM (Client Relationship Management System), analytics software, chatbots, and robotics, with the power to learn and adapt using AI, natural language processing, and machine learning. With the help of a skilled staff and up-to-date tools, an organization can create a product that is productive, engaged, and follows best practices.
Who does the work?
The Future of Work is a new way of thinking and doing things that will help your business get the value-driven results it needs. To approach business transformations holistically, leaders need to view them through four critical dimensions.
- Human: representing the people who work. Define and promote the organization's culture by hiring and motivating the best people in this area and figuring out the right mix of full-time and part-time and hired and contract workers.
- Digital: Describes the collection of tools that govern how your teams operate. It outlines the behaviours that are expected for sharing knowledge, improves content management, makes it easier for teams to work together, and helps tasks get done faster.
- Machine: Including all of the business processes that decide what work is done. Whether they are done manually or automatically, business process optimizations are a must for a business to maintain its competitive advantage.
- Physical: Represents the space where the work happens. Organizations today must embrace new ways of integrating work within homes, social gathering spots, and other virtual locations, in addition to the traditional office environment.
Where and when work is done
The COVID-19 pandemic has caused a tectonic shift in where, when, and how we work, with significant implications for workers, employers, business continuity, and sustainability.
The future of the workforce will likely grow more dispersed as geographic and technological boundaries diminish. If work is done anywhere in the world, it will also be done at any time, transforming the remote-enabled workforce from the standard 9–5 workday to a more fluid design. However, creating a remote work environment necessitates a high level of strategic management, employment, and tax law knowledge in order for an organization to avoid problems. To make the most of flexible work, companies need to reevaluate how work is organized and how peers collaborate.
Our Team is pleased to support the Canada Digital Adoption Program (CDAP), which assists small and medium-sized businesses with strategic planning and adoption of digital technologies to increase their competitiveness. Click here to learn more!