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Samsung: Businesses must become more flexible and collaborative

Thursday 23rd February 2017

Businesses that want to develop and put themselves in the strongest possible position for growth over the coming years need to be open to concepts like flexibility, collaboration and innovation.

That’s according to Samsung, which released a report outlining the concept of the ‘open economy’, in which it stressed that companies must ensure they are ready for “the next wave of the digital revolution”.

The electronics giant predicted that, over the next three years, firms will struggle to succeed if they don’t have an open attitude to competitors, innovators and a new generation of freelance workers.

It referred to recent trends that have had a big impact on how companies operate, such as the explosion of mobile technology, which has emphasised the benefits that can be gained from adopting progressive, collaborative business models.

By 2020, organisations will be much less restricted by “technical or human boundaries”, according to Samsung.

One specific area of technological growth that can be expected to have a huge impact on organisations and the workplace is the Internet of Things. Research firm IDC has predicted that this global network of interconnected devices, people and places will be worth $1.7 trillion (£1.36 trillion) by 2020.

Nick Dawson, global strategy director for Samsung’s Knox mobile security solution, said the biggest business challenge of the next few years will be finding ways to “safely empower new waves of future freelance workers”.

“Within three years, it’s expected that businesses will have to deal with over 7.3 billion connected devices, whilst a rapidly digitised and changing workforce will evolve to one that will transform businesses in how, where and when they operate,” he added.

Marcos Eguillor, founder of BinaryKnowledge and professor at IE Business School, said: “Relying on past certainties will not foster the creativity that business will need to compete in tomorrow’s global marketplace. Companies will need to adopt the technologies that allow them to be fast and flexible enough to spot and understand their next competitive advantages, and recognise when it’s time to disengage from the previous one.”

The report was based on research from The Future Laboratory, a global trends forecasting consultancy, which found that European companies are taking a leading role in the use of innovative infrastructure and human capital to drive forward the digital revolution. These firms will therefore be in a strong position to make the most of “open and ultra-flexible workforces” over the coming years.

Flexibility is a concept that looks set to become increasingly important for employers and their workforces in the near future, with more and more people placing an emphasis on flexible working as they seek an acceptable balance between professional and personal commitments.

A recent survey by video conferencing and calling firm Star Leaf found that 46 percent of employees want more workplace flexibility to combine their jobs with their lifestyles.

Posted by Julie Tucker

Image courtesy of iStock/g-stockstudio

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