How you view the future shapes your actions. Technology has changed the future. The future is not what it is. Anticipation of the future is the key to the success of corporations. It is good to step back to look at the big picture at times, hence the need for rest and relaxation. Your worst enemy is relying on past successes. You need to reinvent your cash cow. Your views and perceptions of the future will determine the new you.
Many things are shifting and future views have to be changed. We have shifted from the information age to communication age, from passive data to interactive media, from computerization to intelligent network, from local access to universal access.
Human resource management has shifted its focus from upgrading technology to upgrading people, job security to job employability, job titles to job skills. We need to become migrant professionals instead of corporate men, and change from single-skill specialists to multi-skilled generalists, and institute reward and promotion based on performance rather than seniority
Corporate culture has also changed from status quo to rapid change, incremental innovation to fundamental change. . The nature of management is undergoing a paradigm shift – from management to leadership, from process to strategy, from management by control to management by commitment, from managing today’s crises to managing future opportunities. Today, the focus is on teamwork versus individual action, giving acknowledgement rather than taking credit, empowering rather than controlling others, and continuous rather than periodic improvements.
Even the dynamics of manufacturing is changing - from sell what you make to make what you sell, mass production to lean production, long cycle times to short cycle times, quality manufacturing to flexible manufacturing, mass production to customized mass production.
The realities of the global competition compel firms to view their opportunity differently. Business opportunities are no longer to be viewed in local terms or on an individual country basis. Companies and individuals need to view the entire world as the economic opportunity. However, it is not about the old or the new economy, it is about fundamental principles.
It is the ability to open up your future view where the limitless wonders are discovered.
Dr Mike Teng (DBA, MBA, BEng, FIMechE, FIEE, CEng, PEng, FCMI, FCIM, SMCS) is the author of the best-selling business book “Corporate Turnaround: Nursing a sick company back to health", in 2002. In 2006, he authored another book entitled, “Corporate Wellness: 101 Principles in Turnaround and Transformation. " Dr Teng is widely recognized as a turnaround CEO in Asia by the news media. He has 27 years of experience in corporate responsibilities in the Asia Pacific region. Of these, he held Chief Executive Officer’s positions for 17 years in multi-national, local and publicly listed companies. He led in the successful turnaround of several troubled companies. He is currently the Managing Director of a business advisory firm, Corporate Turnaround Centre Pte Ltd, which assists companies on a fast track to financial performance. Dr Teng was the President of the Marketing Institute of Singapore (2000 – 2004), the national body representing some 5000 individual and corporate marketing professionals in Singapore