How To Lead A Midsize Business Through Times Of Risk And Unpredictability
One of the greatest challenges for midsize companies is responding to short-term risks and unanticipated market shifts while keeping their sights on longer-term opportunities. Especially now.
Adapting business models to changes caused by macroeconomic challenges and opportunities requires a mindset that recognizes the value of leading with technology. According to the IDC infographic “The Roaring 2020s: Six Trends Impacting Companies in the Next Decade,” this mindset is shared across high-performing midsize companies and the reason why they are well-positioned to establish decisive, far-reaching change.
In this time of volatility and uncertainty, having a long-term view, committed leadership, and support from knowledgeable partners is helping smart businesses become more digital with astonishing speed and agility.
Delivering value with technology
Regardless of what’s happening in the marketplace, every shift in customer behavior drives the need for businesses to transform.
Based on IDC research, digital transformation is a key trend for midsize businesses in the 2020s. By making technology-enabled change a priority, businesses are twice as likely to report double-digit revenue and four times less likely to report declining revenue.
For many companies, the recent pandemic has highlighted the importance of this trend. Now more than ever, strong digital connections are highly valued as business models shift and customers continue to evolve their buying behaviors.
In fact, we see midsize businesses accelerate their transformation efforts as they weather the current storm and prepare for the eventual rebound. They are setting the foundation and redesigning their supply networks now to become more responsive, agile, and efficient, which leads to the consistent delivery of a better customer experience.
To help ensure the success of their efforts, many midsize businesses enlist the support and know-how of a technology partner. This critical element of their digital strategy gives decision-makers greater understanding of the capabilities of specific solutions, so they can align investments with organizational strategies and set realistic expectations.
Charting a path forward
With a dedicated focus to serve their customers, the support of a strong partner, and the right technology to support an agile business model, midsize companies can emerge from this disruptive time stronger and ready for whatever lies ahead.