The explosion of technology and the role of Big Data means the world as we know it is volatile and temporary. At any moment a technological creation can change the way we do things; shaking up entire industries.

This means that modern companies need to be agile, innovative and closer to their customers. So, in what ways can today’s organisations be better geared for transformation? OpenMind suggests these key factors:

1. The people

Innovation comes from people. But to be innovative, they need to be engaged. A great way to keep staff happy (and, conveniently, something that modern technology supports) is to encourage collaboration. Digital tools make working together easy, stimulating and fun.

2. Customers

Technology has changed the customer in two ways:

(1) They want different things, and

(2) businesses connect with them in different ways.

Plus, the market itself is shifting. Not only is the global trend towards emerging markets, but whole business models also need to be redefined to make room for new competition and changing supply and demand channels.

3. Workplaces

The internet means that a lot of people can work from almost anywhere, affecting people’s work-life balance. By embracing the flexibility of technology and revolutionising the way we collaborate with and manage people, we can create a culture of collective intelligence.

4. Leadership

Going from a top-down organisation to a collaborative one means that a traditional hierarchical structure no longer works. Companies may need to change their framework to one focused on flexibility, transparency and teamwork. But this is a change that needs to be managed carefully and strategically.

The world is changing every day. It stops for no one. Make it work for you and your business.