The corporate landscape is changing and evolving quite rapidly. These changes are impacting businesses already, especially with the growth of the liquid workforce. A lot of companies now face various complex challenges as they start to become more globally connected. Hence, industry experts like Steven Rindner mentions that modern companies would require contemporary strategies that are particularly developed on operational and strategic to grow and thrive. To be successful in the long term, businesses should try to iterate rapidly, while being opportunistic in their approach.
Business opportunities are not distributed in an even manner over time. Usually, firms face a steady flow of small opportunities and intermittent midsize ones, along with periodic golden opportunities, which are able to create considerable value in a swift manner. This trend underlines the importance of operational and strategic agility in any kind of modern business strategy. Over the decades, a lot has changed for businesses, especially in terms of how they work, what they work on and where they world. Covid-19 pandemic, in particular, played a major role in accelerating the shift to remote working. However, the future of the workforce is way more than that. Work is gradually becoming more projects based rather than being role based, as companies are embracing scrum and agile methodologies.
A lot of modern firms develop specialized project teams for the purpose of tacking diverse challenges and opportunities. Right from well-established companies to startups can competently develop and execute modern business strategy by enabling project based work and an agile, flexible workforce. Companies should gradually create their growth strategies focused on developing a blended workforce that features a mix of on-demand and full-time talent. A lot of human resource leaders today are rethinking their approach in terms of developing the workforce of a company. Company workforce is no longer constraint to just employees today. They can tap into a talented pool of liquid workers as well.
For a long time, project-based work approach has been supported by traditional, big consulting companies. But working with major consulting firms also poses frequent challenges for businesses of today. A lot of these companies tend to move too slowly. But the market today requires companies to rapidly move and take advantages of opportunities. Hence, it is a better for companies to have a strategy in place to involve liquid talent who can help them to address specific questions often through shorter engagement.
As per industry professionals like Steven Rindner, opting to compete effectively in this contemporary corporate landscape, a business has to be opportunistic, agile and nimble. Sifting to a project-based work mindset and developing a flexible workforce is becoming extremely critical. Without leveraging these fundamental building blocks of modern growth strategy, businesses won’t be able to effectively leverage the potential of first-mover advantage. It is time that companies start to take advantage of the opportunities available by shifting to a modern business strategy approach as soon as possible.