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A Adrian's Blog

New World Group in the Year 2030

07 Aug 2017

Imbued by our brand personality ‘The Artisanal Movement’, we have expanded our business across diversified sectors. However, in today’s dynamically evolving economic and market environment we must re-double our efforts to carefully ponder all of our strategies moving forward in order to address the challenges that confront us in the future. Today VUCA, referring to V- Volatility, U - Uncertainty, C- Complexity and A- Ambiguity are creating new hurdles in tandem with the introduction of the latest technological advancements. As the old saying goes - ‘Winner takes all’. If we are to be the proverbial winners we must be focused on our company’s competitive edge as the industry leader.

This will require a clear grasp of technology and the impact the digital realm is having on mankind, society and the business world. Rapid technological development is transforming our lives in myriad ways as well as how we operate our businesses. As a multi-national enterprise, it is incumbent upon us to venture ahead boldly using the latest technical innovations in order to keep our competitive advantages.

Talent management is also another key area to be focused. In today’s new business era which is being led by millennials, who are variously described as curious, self-oriented and creative. How can we unleash their innate talents to benefit our operations over the long term? We need to become familiar with their characteristic traits and mindset then collaborate closely with them. However, another factor that will loom large in the future is the advanced development of artificial intelligence and automation, which will supersede and replace many of today’s work functions. For this reason, only those with an acute sense of judgment and innate creativity will thrive in the new environment of automation. That’s why we must reckon with the value we place ‘human’ endeavor and consider what types of talent we will need to recruit.

Finally today we are seeing the advent of new business models like Sharing Economy and Big Data utilisation. So how do we as a Group embrace and benefit from these emerging ideas? I think it essential that a traditional firm like ours should explore more deeply how to achieve mutual synergy together with other Group companies to establish a cross-departmental and cross company ‘ecosystem’ wherein we use shared resources, communication models and big data in order to reinforce our overall operations in a more harmonious way.

If we, as New World Group Artisans, are to reach the promised land of real sustainable development we should look to fully embracing the challenges brought about by future technological innovations while we examine proper talent management protocols, and move boldly toward creating a more tight-knit group synergy that will serve as a compass guiding us on a course for successful development into the year 2030.

  • talent grooming
  • digital
Author
Adrian Cheng Executive Vice-chairman and General Manager
New World Development Company Limited
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