Thailand has entered the economic transformation stage that is propelled by the Digital 4.0 vision, i.e., digital optimization on the breadth of integrated scope and scale. Everyone is required to pull their full weight to get the ball rolling in the process. In so doing amidst the ‘developing’-‘developed’ status upgrade, organizations will no doubt face constant, unprecedented challenges from disruptive changes caused by technological innovation. For starters, e.g., GET, an equivalent of the Grab and Uber application in Thailand, has already epitomized digital success as a platform that does far more than simply spreading fair wages to part time operators of the Gig Economy. More importantly, it allows micro startups and SMEs to outsource the entire fulfillment supply chain and commence business in strategic locations with minimal asset and logistics requirements as well as access the marketplace mass buyers frequently use through the mobile device, regardless of language barriers. In other words, it allows startups to scale in the immediate neighborhood, feasibly first, with the least infrastructure possible. From municipal transportation perspectives, as delivery is even free at times depending on review ratings and accumulated points, traffic is also reduced from main roads as consumers realize they no longer have to haul themselves through, nor cause, rush hour grid locks and long waiting lines to get something. With respect to workflow, transactions and administrative sequences on both the demand and supply side are run together seamlessly on one platform with user-friendly SOPs that walk all parties through the process with ease while everything gets documented, stored to big data and analysed for existing patterns, automatically. That means when the scale is tipped too much to demand or supply, smart pricing and strategic measures can be deployed to handle inflation or deflation in the relative market, effectively, in nearly real time as it happens, i.e., should action be required. Keywords that also come to mind are transparency, safety and security. Thus, as the operative word for bustling small businesses becomes the new conducive normal for economies of sufficiency in fascinating ways, it’s nearly impossible to lead in 4.0 without a grasp on the changes the internet of things is affecting for society.
To lead the business towards success amidst such change, 4 leadership outlooks are essential to take organizations through the storm and come out on top.
1. The Social Supers
‘Maximize gain at all cost that’s not mine to pay, everyone’, and ‘No, paying tax isn’t my problem either’ is a road against our Por-Piang conscious that leads to mountain-high wastelands and coal plants right outside our home. Despite the fact that income is the life line any for-profit organization gives top priority to, social and environmental responsibility carries the same importance in terms of the company’s survivability, if not more. Thus, ‘generate income through the creation of products or services that reflect social and environmental responsibility’ is the go-to quote for social supers as definitive to underlying business models and policy in ensuring sustainable growth for the organization as the vision and mission is pre-defined in the context of the greater community and ecosystem at large. In so doing, multi-faceted benefits always ensues the manifestation of social responsibility.
For instance, in the aspect of organization’s credibility and positive social image: the organization is normally given more opportunity or support by various offices/agencies in times of crisis or serious problems. In the aspect of learning and innovation creation, this is evident in the case of a leading company in the automobile industry which came up with an innovation that shifted from fuel oil to electrical energy. This resulted in the reduction of pollution emissions. In the end, the innovation later generated a very high volume of sales for the organization. As two birds for one stone, prioritizing societal and the environmental efforts can work wonders as a marketing instrument as well, one that creates margins far larger than the organization could have ever imagined, i.e., provided preach is put to practice for conscious consumerism.
2. The Data-driven Decisives
In fact, the size of data is no indication of its quality. What is important is whether the data is utilized to generate quality. Data-driven leaders will base their organizational development strategy on quality data and systematic data storage which ensures long-term success for the organization. Quality data helps enhance not only the decision-making process and accuracy but also work efficiency, revenue increase opportunity and the organization’s ability to cope with potential/possible risk management.
3. The Drivers of Innovation
This type of leadership has the vision and conviction to invest in technology as a means to practical and continuous development required to prepare the organization with applicable profit-making capacity. With every technological change comes the change in customer behavior. Therefore, the organization’s leaders must adjust their way of thinking and business operations as well as technological investment and innovations to ensure the organization could keep abreast of the current global situation. They, moreover, need to steer the organizations toward a stable growth while having a vision that centers round interest in learning, taking risk when faced with new technologies so as to achieve different results compared with the existing ones, daring to admit their mistakes and not thinking that their thoughts are always right.
4. The Talent Champions
Despite employees’ work effectiveness, the talent champions as leaders still focus on personnel development and preparedness in anticipation of the ever rapidly changing future. They need to envisage the importance of investments in skill training and development essential for employees amidst the digital disruption trend (http://scg.plaimanas.co/blog/detail/276) to cope with the ever more clever artificial intelligence (AI). This is because these talent champions believe that skill development is the core factor to generate employees’ work passion and stimulate their enthusiasm to always learn about new things happening around them.
If you want to lead your organization to rapid success in the 4.0 era, do not hesitate to apply the four leadership persona to your business advancement process to ensure success that is not beyond reach.
Compiled by BLOG.SCGLogistics
References forbesthailand.com, thaipublica.org, kriengsak.com, thaiembdc.org, moneyandbanking.co.th
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