Welcome to Future Compass - Understanding today, preparing for tomorrow Professor Singh specialises in digital transformation, disruption, and startup acceleration, and keeps his finger on the pulse of change so that you can make better decisions.
Society's dynamics are in constant flux and although technology and industry have had an impact in the last 120 years the power of dynasties, nationalism, military conflicts, and climate change amongst others have been shaping our existence for millennia. As have Pandemics! The great con is that we just never noticed these instability drivers in recent times because of an unusually long period of stability post the second world war. Stability over a human lifespan this long is rare indeed. It manifested for several reasons including a military stalemate between two great powers, immensely powerful economic growth to feed a rapidly growing population due to exponentially accelerating technological prowess and globalisation and integration of the global economy. The world population has more than doubled in my lifetime, that's not a formula for stability. What was ignored was the fact that tightly coupled systems become more unstable as they overrespond to smaller stimuli.
What advice would I give to my younger self today? Today's rapidly evolving economy involves a deep interweaving of the worlds of technology, science, and business although the connections are not always obvious. I experienced this as an engineer who moved into the world of business relatively early in my career. I learned that the role of science and technology is as strategic enablers of business rather than drivers of business. Some of the decisions that I have had to grapple with include should I remain a specialist or become a generalist, learning that a process of innovation is much more valuable than a single smart product, a focus on the overall framework or architecture rather than any single language and that innovation is about being agile to find where meaning exists for clients. In addition to this was learning when to pivot or persevere, how to raise funding and manage stakeholders and figuring out how to build teams in order to get to the future first.
The pandemic created a massive move online for transactional type services. Strolling became scrolling and the world of phygital was upon us. The move online en masse also had another untended consequence. The challenge is that now everyone is doing it. How do you now stand out in a virtual crowd? Differentiation has never been harder especially for professional services. Differentiation on the web where everyone is anonymous is tough. This is truly the great leveller.
How will you know when you are in the right place professionally? Home is where authenticity is. Being authentic and happy in your own skin all the time. You know you are home when your quirkiness is an asset and not a liability. It is far easier to change jobs or roles than it is to change yourself. Your home is the location when you can be your authentic self, most of the time. Where you are not roleplaying, acting as if you are someone else.
Your attitude might determine your altitude, but your value add determines your income. Being transactional is lower valued than solving complex problems is. Position your role at the higher end of the spectrum of work to optimize your income and career prospects.
Politics exist due to the insatiable desire of humans for three things viz Power, status, and wealth. Individuals acting alone or in consort have for millennia been conniving to secure a monopoly on these three assets. Understanding how to identify politics in action, how to position yourself and how to behave are key elements of career success.
There are three key roles in any major successful innovation or startup. They all begin with the letter H. Figuring out whether you are the Hacker, the Hipster or the Hustler is a key part of any journey into this world.
The current model of having teenagers decide what they want t do for the rest of their lives has had terrible career outcomes with much career failures, professional unhappiness and misalignment. These sub-optimal outcomes can be improved by changing the way in which we conceive of and craft career paths using a more dynamic and agile approach.
CFO – F is for failure or future The role of the CFO is evolving rapidly from being the reporter and analyst to being the strategist and advisor. Learn how future CFO's will need to be more data driven and commercially astute to truly lead and shape their firms future strategies and tactics.
Collaboration in a Digital Age. The evolution of work combined with advances in technology and globalization has meant that our roles have shifted from being primarily transaction based and working alone to collaborating in groups on more complex and creative work online that involves more empathy and engagement skills. Learn how to prepare for this new world of work.
No, up is not the only way to grow The illusion of success being to climb the hierarchy of a firm is destructive as only a few will make it and even fewer will remain there for long. There are other much more sustainable options for progress than entering a rat race to the top.
Do not be too harsh on yourself, you are the product of The Waves of Life: Your career may be less in your control than you think. There are many waves from economic and technological to demographic that dictate how your life outcomes play out. Learn to surf these waves for optimal success in life.