Reflections on how businesses should prepare for the uncertainty

The last few years have seen some of the biggest global shocks since the crash of 2008 even, arguably, since the Second World War. It has been a time in which previous long-held certainties and assumptions about the world have been shaken and, in some cases, shattered.

The COVID-19 pandemic has acutely highlighted the vulnerability of global supply chains, leading to unexpected shortages of energy and other resources.

When we were just recovering of it the Ukraine War came with the energy disruptions associated and the raise of the energy prices.

Perhaps most importantly, climate change and sustainability, for too long the "elephant in the room", are finally being acknowledged as an urgent challenge as the reality of previous predictions starts to bite. For the first time, issues around environmental and social impacts and resource usage are taking center stage.

Confronted with all these issues, it is easy to descend into pessimism about the future. However, there are still many reasons for positivity. History has often shown how challenging times can ultimately lead to new and unforeseen opportunities and benefits, even if the transition process can be painful. More than ever before, in today's world, technology and business have huge potential to help realize the opportunities and benefits resulting from the disruptions ahead.

With all this in mind, what should companies focus on to get ready for the future over the next five to 10 years? We can summarize some key imperatives:

Placing ESG at the core of the business, regaining and building public trust.

Developing a capability for forward-looking, dynamic risk management to improving resilience

Clarifying and communicating a clear and enduring sense of purpose.

Strengthening the ability for step-out innovation and new business creation.

Embracing uncertainty in approaches to strategic planning, rather than oversimplifying

Becoming ambidextrous by pursuing efficiency and productivity alongside agility and creativity

Nurturing increasingly extensive global partner networks

Focusing on local support and community engagement, as well as maintaining global collaborations

Today, the future seems more uncertain and unpredictable than ever.

To be successful in this future, businesses need to embrace this uncertainty, driven by a genuine and compelling sense of purpose. We have big challenges ahead, but irrespective of the politics, it is ultimately technology, and the existence of robust businesses to deploy it, that will be the key to safeguarding our future.

If you want to know more about me you can find me at www.emilioangles.com