Future-ready business

<h5>What is a future-ready business?</h5> <p>A future-ready business builds operating models that ensure its resilience in the face of continuous disruption. These businesses are agile and responsive and can adapt to the fast-changing and often unpredictable needs of customers, the market and the world around them.&nbsp;</p> <p>Future-ready businesses can read early warning signs to anticipate and act on change before it happens, and then quickly pivot their strategies and operations to stay ahead of the curve.<br> </p> <p>A future-ready business is characterized by:<br> </p> <ul> <li><b>Innovation.</b> Seeks new ways to improve its products, services and processes, and is not afraid to reinvent itself to remain one step ahead, despite unknowns.<br> </li> <li><b>Human-centered design.</b> Designs solutions that put humans—both customers and employees—at the center of its strategies. Constantly seeks to understand and meet evolving customer needs and preferences for new products, services and experiences.<br> </li> <li><b>Sustainability.</b> Is environmentally and socially responsible and recognizes the importance of long-term sustainability for the planet, humankind and its own success.<br> </li> <li><b>Digital transformation.</b> Leverages digital technologies such as cloud to modernize business operations and customer experience. Operates on a flexible, scalable IT infrastructure that supports speed, agility, flexibility, collaboration and innovation.&nbsp;<br> </li> <li><b>Talent development.</b> Invests in its workforce and the employee experience, providing employees with the upskilling, training, tools and resources they need to thrive in a rapidly changing business landscape.&nbsp;<br> </li> <li><b>Purpose.</b> Inspires employees with a sense of purpose and belonging and nurtures a diverse and inclusive culture.<br> </li> </ul> <p>By embodying these characteristics, a future-ready business can anticipate change and take precise action to meet stakeholder needs, stay ahead of the competition and thrive in the face of uncertainty and disruption.<br> </p> <h5>What are the business benefits of a future-ready business?</h5> <p>Amid continuous change and disruption, it has become vital for businesses to be future-ready. By implementing a future-ready operating model, organizations can adapt to unpredictable and changing business environments to remain relevant and stay ahead of the competition.&nbsp;</p> <p>The benefits of being a future-ready business include:<br> </p> <ul> <li><b>Increased agility.</b> With built-in agility and flexibility, future-ready businesses can ensure resilience and relevance despite changes in the market or customer demands.<br> </li> <li><b>Faster, more intelligent decision making.</b> By using data, machine learning, analytics and automation, future-ready businesses can get an early read on changes ahead and make fast, precise decisions in advance of disruption.<br> </li> <li><b>Enhanced innovation. </b>Businesses that embrace new business models and strategies can continuously innovate and produce better products, services and experiences.<br> </li> <li><b>Improved customer experience. </b>Businesses that focus on meeting the changing needs of their customers deliver better customer experiences and boost loyalty.<br> </li> <li><b>Greater flexibility. </b>By moving to a digital-first infrastructure, businesses are in a better position to try new ideas, collaborate in partner ecosystems and change course quickly when needed.&nbsp;<br> </li> <li><b>Higher employee engagement and retention.</b>&nbsp;Employees working in future-ready businesses feel a sense of purpose within a supportive, inclusive work culture that leads to greater productivity and talent retention.&nbsp;<br> </li> <li><b>Brand trust.</b> By working to lower their carbon footprint and improve the communities in which they operate, future-ready businesses develop a sought-after brand that’s trusted by consumers, investors and other stakeholders.<br> </li> <li><b>Higher efficiency.</b> Embracing new technologies and processes can lead to increased efficiency and productivity, allowing businesses to do more with less.<br> </li> <li><b>Competitive advantage.</b> A future-ready business is better positioned to stay ahead of the competition and take advantage of new opportunities.</li> </ul> <p>Having a future-ready business means being prepared for whatever the future may bring, which can lead to long-term success.</p>

<p><br> Back to <a href="/content/cognizant-dot-com/us/en/glossary.html" target="_self">glossary</a></p>