Defining Future Capabilities – Beyond Guesswork

Overview

If we can’t accurately predict the future, how can we define the capabilities required for the future?  Many organisations rely on generic capabilities such as innovation, leadership etc as future capabilities, but do these really provide the cutting edge in a competitive market place.

Our expert panel, share their views and experiences on Future Capabilities and how to make this exercise more robust and effective.

Date & Time : Thur, 2nd November 2017, 12 – 1 pm Sydney Time

Summary:

We had over 120+ register for this webinar, where we shared our views on how to define Future Capabilities and how to make this exercise more robust and effective.

Here is a quick overview on what our expert panelists discussed:

-John Forrest gave us a walk through on Scenario Based Capability Planning a robust methodology to predict future scenarios by deconstructing it to identify the required operational and workforce capabilities.
-Andrea Hannah shared the agenda for change and the strategic imperatives to position the sector for a radically different future.
-Jeevan Joshi interpreted the 5 most important lessons learnt from organisations that have identified future capabilities and also shared solutions on how to develop them.

Survey Insights

  • A large number of enterprises, both big and small intend to capitalize by building on future capabilities imperative for growth and sustainability.
  • Among the key influencing aspects, Growth & Innovation is rated as a predominant factor in building future capabilities. While many organisations rely on generic capabilities such as innovation, leadership etc the question still remains does this provide the much needed competitive advantage in a volatile and complex market place.
  • Large number of respondents feel, real insights can be gained by tracking global trends and technological advances that hint at capabilities that will be critical to the business in future.
  • The fear of Artificial Intelligence/Machine Learning (AI/ML) surpassing human capability and impacting organisations could be true, where most respondents feel there could be a rise of AI/ML assistance in our day to day work.

Webinar Statistics

During our survey 49% said that their organisation had already identified capabilities to ensure they are future ready. While 46% said they currently haven’t but plan to do it.

 

 

32% feel growth and innovation have a higher influence on building future capabilities to help keep the business running, followed by 24% who feel culture and leadership are better influencers as they determine the health of the organisation. 22% said the need for building future capabilities arise from organisations quest for a competitive edge, while 12% feel digital disruption triggers the need for employees to have the capabilities and mindset to keep up with the pace of change. Only 10% think evolving customer preferences have an influence on defining future capabilities for the workforce.

35% said following global trends will help organisations keep the workforce ready for the accelerating speed of business, while 25% rely on industry specific R&D for inputs on the future of their business & required skills. 27% feel organisations can take a cue from consumer behaviour and unmet market needs, whereas only 14% feel tracking technological advances can help predict future capabilities.

Technology has always remained a critical factor for most businesses. The ever changing digital world has often posed as a challenge for Learning and Capability Management professionals who try ensure that the organisations has the required skills. 45% feel AI/ML assistance at work will impact the organisation the most, followed by 28% who said technology like internet of things could have a higher impact. 14% predict a rise in the use of office robotics, while 13% feel emerging technologies like virtual reality and augmented reality will be a precursor of the next generation technology.

Panelists

John ForrestJeevan Joshi LearningCafe