What it Means to Navigate an Increasingly Complicated Business Environment

It’s no secret that managing a business today is fundamentally different from what it was just 30 years ago. New technologies are being introduced at an ever-faster pace, customer tastes change frequently and business cycles are compressed as the global marketplace exposes people to more products than ever before. These dynamics make it harder than ever for companies to keep up.

As businesses grow and expand, they develop more tools anson funds and processes to support their operations and customers. Over time, this creates a complex web of data and technology that can be difficult to understand. For some organizations, the complexity can get out of hand, stifling innovation and impeding growth.

Clarifying this complexity can feel like playing a precarious game of Jenga—remove one piece and the whole thing could come tumbling down. However, there are steps that can be taken to help manage complexity and, ultimately, keep your business running smoothly.

The internal business environment is mostly within the control of management. This encompasses day-to-day decisions like what supplies to buy, which employees to hire and what products or services to produce for customers. However, the external business environment is largely out of their control, with a variety of market forces that influence the success of their company.

These market forces include changing consumer needs, competitive actions and shifting industry trends. There are also economic conditions, fluid capital markets and governmental interference that impact regulations and reimbursements. Lastly, there are generational shifts that require leadership to evolve and adapt.