The world of business is always evolving. That’s been particularly true over the past 2-3 years. In 2020 alone, there have been several factors driving big changes. These include the COVID-19 pandemic and the continuing evolution of technology. Some of these trends are related to social distancing. Others are related to changing tastes and new technological innovations.
For sectors like business management, remote work is becoming more normalized and even preferable. This started as a temporary measure due to the pandemic, but now people are recognizing the advantages that come with this. Remote work in this sector requires plenty of check-ins over Zoom, but it does work. Tools like Skype and Zoom have also helped to democratize education. Experts in one field can reach an almost limitless number of students. A great example of this is the phys ed courses provided by Joe Wicks in the UK. They were intended for locked-down students, but helped whole families around the world get fit.
Other trends are more surprising. For years, the role of people in C-level positions has been very strongly defined and fairly conservative. However, recently this has started to change. For example, CEOs have had to transform. They’re now expected to demonstrate an awareness of technological innovation and digital savvy. Successful CEOs today, no matter what sector they work in, need to be conversant in topics like Big Data, AI and sometimes blockchain. Without knowledge of recent advances and innovations, a CEO can’t really be trusted in the driver’s seat. This is a big trend. It’s starting to affect recruitment in a variety of ways, across a number of economic sectors..
CFOs are changing, too. Long viewed as quiet, number-crunching accountants, Chief Financial Officers are being asked to step into the spotlight a bit more. Part of this is because CFOs generally have a big amount of digital and technological expertise already. Their understanding of changing industries is often fairly good to begin with. Also, given the economic hardships of the past few years, the analysis provided by CFOs is becoming more and more important. This is a point in time where CFOs, not just CEOs, are being looked at by share owners and analysts as keys for transforming whole organizations.