21-23 Apr 2020
Melbourne Convention & Exhibition Centre

Stay Relevant: How to Handle Rapid Digital Growth

Jun 4, 2019 Technology

Today’s technological trend is rapidly growing and at an increasing rate. It is transforming the building industry landscape with businesses consistently expanding their architectural and engineering capabilities.

The trend has given life to smart homes or buildings, introduced new building materials, and simplified the construction process.

 

As much it has benefitted economies, and even societies, coping with rapid digital growth is very challenging. Staying relevant in this transformational age requires careful consideration and an informed application strategy.

 

How to Handle Rapid Digital Growth

 

Design Thinking

 

Design thinking is significant for keeping a business in competition especially in this industrial revolution. It solves critical problems through analytical plus creative skills and offers a problem-solving process that helps digital leaders understand what is needed most. This serves as a basis in generating the most important solutions, hence keeping your business relevant in the industry.

 

Going Green

 

One of the most common mistakes companies face when navigating digital growth is environmental neglect. Some companies set their focus solely on technological innovation while overlooking their carbon footprint. Once the product reaches the public and it is learned it has a negative impact on the ecosystems, things can spiral out of control.

 

Aligning your digital strategies with environmental friendliness is one of the most effective ways to generate success. Digital transformation and sustainability mutually benefit each other; Technology helps waste management and the innovation of efficient products, while a good understanding of sustainability prevents bad energy-wasting habits.

 

Capital Management

 

Coping with the rapid growth of smart building does not necessarily mean overspending on the latest technology. Although cost is automatically associated, it is important to be critical in decision making to avoid spending for short-term gain. Create a capital management framework and invest only in products that are aligned with your long-term business goals.

 

Customers and Clients as the Top Priorities

 

Regardless of the evolution of the industry, the needs of customers must always come first. Always listen to your customers in order to meet their requirements and give them a positive experience. Keep in mind that the business world is now subject to the use of social media, which offer very powerful platforms that can either benefit or harm your company within seconds.

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