When it comes to business, particularly in the current climate, you can’t afford to rest on your laurels. Just a fortnight after Carillion’s news hit, Capita’s chief executive, Jonathan Lewis, announced the significant steps that his organisation is taking to transform its business.
“(Capita) has previously consistently underinvested, spread itself too thin across too many markets, is complex to manage and unfocused…is driven by a short-term focus and lacks operational discipline and financial flexibility.”Jonathan Lewis, CEO, Capita
With a new approach and focus needed then, Lewis’ already-underway transformation programme is designed to simplify the business, remove cost and identify areas for investment. Certainly a brave and bold move, but given the digital era we live in, a necessary one.
We know that organisations that aren’t changing and transforming - whether to drive efficiencies, gain greater business intelligence or adapt to innovate and improve services - will miss out at best and, at worst, fail to survive. British businesses need to begin the transformation journey of rethinking business now, in the present.
This is something that I, like Lewis, feel very passionate about. For example, our recent 2017/2018 Annual Trends Report revealed that, worryingly, nearly one third of business professionals are concerned that leaders aren’t fit to run modern digital infrastructures. Given the fourth industrial revolution – the digital era in which we are living – it’s time for tough and bold decisions. Boards and leaders need courage and vision to get to grips with this digital era, reimagining their future and creating new business models to retain a competitive edge - or they’ll risk being left behind.
As a technology leader, we know technology can and must be a force for good for Britain. We have already taken steps to reimagine our own business through a process of restructuring, rebranding and recruiting to ensure we can embrace opportunities with pace. We will do everything we can to help our customers and other businesses transform their organisations, embrace digital technology and make the tough decisions needed to ensure they stay ahead. With 20,000 British customers, we believe we can help champion the digital change crucial to them, us and the growth of UK plc.
We need other business leaders to take Lewis’ lead and seize the opportunity that the fourth industrial revolution can provide. If your organisation is not on the right path now, take action now and – like Lewis - change it. Get forensic about the data that matters and create a change management plan with digital-first at its heart, execute it with pace and ride the wave of transformation.
Now is the time to re-launch Britain as a leading nation and deliver opportunities for organisations across the UK. Which is why it’s so encouraging to see British business leaders like Lewis take tough decisions and brave steps - we are sure this will pay dividends to drive future success for the UK market.