Future of Work "Module 1 - Introduction"

Why is future of work important?

To show companies the need to ^^remain flexible^^, know actual ^^trends^^ and know ^^how to work in the future^^

What is the dodo effect?

The story of ^^__extinction of the dodo bird__^^, they were so ^^__confortable__^^ in their environment that when ^^__new entrants__^^ (humans) with ^^__new resources and threats__^^ arrived, dodo bird could not survive, he had ^^no competitive capabilities^^ and ^^no ability to react.^^

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^^Companies get too confortable in their environments and forget how to react, adapt and evolve.^^

What is the meaning of future fitness?

* ^^Being prepared^^ for both ^^**opportunities** and **challenges**^^ in the ^^**future working world**^^ by ^^**adapting short and long term actions**^^
* ^^changing market conditions^^ like ^^**digitalisation demand**,^^ ^^**innovation**^^ **and** ^^**flexibility**,^^ ^^**stimulate competition**^^ and ^^**fostering new ways of work**^^

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Examples of future fitness companies and not future fitness companies

%%Future fitness%%


1. Google
2. Apple
3. Samsung

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==Not future fitness==


1. Kodak
2. Nokia
3. Blackberry

Which are important trends for future of work?

1. ^^Environment & health^^ (virtual Drs., organ cultivation)
2. ^^Working world^^ (new work styles, new business models)
3. ^^Technology and Innovation^^ ( smart robots, bionic teams)
4. ^^Society^^ (AI, lifestyle shift, social isolation)

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%%\*Challenge is to try to find interdependencies%%

Which have been the changes in the working world?

1. **Selected external characteristics**


1. @@*Traditional working world*@@

Competition in the own sector, incremental change, exploitation of resources, human intelligence, data as a business model

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2. %%*future of work*%%

competition in own and other sectors, disruptive change, sustainability orientation, AI supporting human intelligence, data protection as a business model




1. **Selected internal characteristics**


1. @@*traditional working world*@@

intuitive decision-making, linear problem solving, leadership with leaders
2. %%*future of work*%%

evidence based decision-making, agile working, self-management of employees

Example of future trend

**Leap in time lab because of the following workplace settings:**

* ^^**work & play** ( fosters creativity)^^
* ^^**smart living and working** (integrate work to life)^^
* ^^**activity-based working** ( different meeting tables and spaces for concentrated work)^^

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Definition of ambidexterity theory

**describes how** ^^**companies**^^ **can** ^^**simultaneously manage**^^ **their** ^^**innovativeness and efficiency to remain adaptable**^^

Mention the 3 characteristics of ambidexterity theory

1. ^^**Exploration:**^^ degree to which a ^^company tests new concepts^^, important for this are the ^^opening up^^ of new knowledge, ^^knowledge acquisition and diversity^^
2. ^^**Exploitation:**^^ degree to which a company can ^^manage their daily business^^. ^^control, security and efficacy^^ are important
3. ^^**Integration:**^^ degree to which companies can ^^integrate exploration and exploitation^^

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What is the challenge of ambidexterity theory?

How to combine the elements and take advantage of them

Scope of ambidextrous organizations

Definition of dynamic capabilities

^^**ability**^^ of companies to ^^**integrate, build and reconfigure**^^ ^^**internal and external competencies**^^ to adequately ^^**adapt**^^ to rapid ^^**changing environmental and market factors**^^

Goal of dynamic capabilities

Help companies to ^^stay flexible^^ and ^^adapt to future needs^^ of workforce

Which are 3 ~~characteristics~~ steps to dynamic capabilities? (the process)

1. **Sensing**
2. **Seizing**
3. **Transforming**

What means sensing?

The company **continuously scans the environmen**t and ^^**identifies new opportunities and threats early**^^

What means seizing?

* The company mobilises resources to ^^**take advantage of the opportunities and generates value of them**^^
* The company selects and develops business opportunities that fit with their environment

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What means transforming?

The ^^**company**^^ is under ^^**continuous adaptation**^^

Which are key activities of sensing?

1. ^^investment on research activities^^
2. ^^testing and retesting:^^

***customer’s needs**

***technological possibilities**

***competitor responses**

***supplier responses**

%%-→ Make the most out of the market the company is in or check if they are in the market they want to be in%%

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Which are key activities of seizing?

1. ^^Selection of physical technology^^
2. ^^Design business model^^
3. ^^Hire managers to coordinate functional activities^^

Which are key activities of transforming?

1. ^^realign assets^^
2. ^^Redesign business model^^
3. ^^remake of routines^^

Which are activities for future oriented sensing?

Future oriented sensing is the core of dynamic capabilities, some activities include:


1. Tracking ^^new developments^^ in ^^science and R&D^^
2. Tracking ^^new development^^s in ^^AI and technology^^
3. Tracking ^^supplier and competitors innovation^^
4. ^^Identifying^^ ^^changing work force needs^^ (ex knowing that Gen Z wants more flexibility)
5. Identifying ^^changes in target markets and customer needs^^
6. ^^**Understand own future fitness**^^