Henrik Naujoks, a partner with Bain's Financial Services practice, explains why it's important to build resilience into business models, consider the future and think in stepping stones in order to stay agile.
Read the transcript below.
HENRIK NAUJOKS: If I compare this year's Davos to the last year's, there was one topic that was by far more dominant than in the past, which is [not only] about the risks—especially the geopolitical risks—but also climate change as one key topic.
The other topic that remains the same is obviously transformation. The interesting thing about this is that we discuss much more about the human aspects of digitization and the challenges to transform the workforce. We have to consider much more the geopolitical situation. I think it's impacting the large corporations to a degree that has never been seen before, and it's much more about resilience to build in your business model.
The other learnings are about the digital journey that the corporations are embarking on, and being much more aware of that you have to combine the dreamers and the doers [so] that you don't only think about the present forward, but also the future back. What will your industry look like in 10 years? What are different scenarios you have to think about and you have to build in your plans?
And I think the third is to really think in stepping stones and to try to stay agile while you are embarking on this journey.