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.
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
Examples of future fitness companies and not future fitness companies
Future fitness
Apple
Samsung
Not future fitness
Kodak
Nokia
Blackberry
Which are important trends for future of work?
Environment & health (virtual Drs., organ cultivation)
Working world (new work styles, new business models)
Technology and Innovation ( smart robots, bionic teams)
Society (AI, lifestyle shift, social isolation)
*Challenge is to try to find interdependencies
Which have been the changes in the working world?
Selected external characteristics
Traditional working world
Competition in the own sector, incremental change, exploitation of resources, human intelligence, data as a business model
future of work
competition in own and other sectors, disruptive change, sustainability orientation, AI supporting human intelligence, data protection as a business model
Selected internal characteristics
traditional working world
intuitive decision-making, linear problem solving, leadership with leaders
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)
Definition of ambidexterity theory
describes how companies can simultaneously manage their innovativeness and efficiency to remain adaptable
Mention the 3 characteristics of ambidexterity theory
Exploration: degree to which a company tests new concepts, important for this are the opening up of new knowledge, knowledge acquisition and diversity
Exploitation: degree to which a company can manage their daily business. control, security and efficacy are important
Integration: degree to which companies can integrate exploration and exploitation
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)
Sensing
Seizing
Transforming
What means sensing?
The company continuously scans the environment 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
What means transforming?
The company is under continuous adaptation
Which are key activities of sensing?
investment on research activities
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
Which are key activities of seizing?
Selection of physical technology
Design business model
Hire managers to coordinate functional activities
Which are key activities of transforming?
realign assets
Redesign business model
remake of routines
Which are activities for future oriented sensing?
Future oriented sensing is the core of dynamic capabilities, some activities include:
Tracking new developments in science and R&D
Tracking new developments in AI and technology
Tracking supplier and competitors innovation
Identifying changing work force needs (ex knowing that Gen Z wants more flexibility)
Identifying changes in target markets and customer needs
Understand own future fitness