Writing a presentation about the effect of Industry 4.0 on SME businesses it got me thinking – how risky is the future for business?
Business has always been risky but the difference now is that there is much more uncertainty. What’s the difference you ask?
Risk is quantifiable an uncertainty isn’t. In the past we could use trend analysis and predictions to look at markets and demand. Today, the past is no indication of the future and so for many businesses there is little risk in the future but a huge amount of uncertainty.
This means that the only real risk is continuing with what we are already doing. The risk of disaster if we do that is close to 100%
Taking the “safe” alternative of continuing with what you know is therefore the riskiest of all decisions and innovating the least risky. “It’s always worked in the past” is probably one of the riskiest statements anyone can make.
It’s not a popular to say but the least risky way to face the future is to embrace change and plunge into the unknown. Will you embrace uncertainty or let it suffocate you?
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