Four steps to building a future-ready organization

Being future-ready is a source of competitive advantage in turbulent times. Professors Howard Yu and Mark Greeven explain how Xiaomi and others not only survive, but thrive through uncertainty. 

A flurry of upbeat data has boosted hopes that a global recession can be narrowly avoided – but organizations still face an uncertain future, with risks to financial stability being one acute concern. So, what can organizations do to become “future-ready” in what are still fairly turbulent times?

They need to constantly reimagine their core business while concurrently building new revenue streams for the future. Those organizations that balance these two priorities have a competitive edge over their rivals. Being future-ready means winning more in good times and losing less in bad times.

And in a recent webinar, IMD Professors Howard Yu and Mark Greeven spelled out the four key steps organizations should take to become future-ready using real-world examples.

Step 1: Delve deep…