Wednesday, March 22, 2023

Critical Growth Areas for Organization in 2022

By Swapnil Mishra - February 10, 2022 3 Mins Read

Critical Growth Areas for Organization in 2022-01

The last one and half years have presented unimaginable challenges. This year, the focus shifts to companies finding themselves nearly two years into the pandemic and what it will take for them to enable the next wave of growth. There’s a need to rededicate efforts to improve transparency, agility, collaboration, sustainability, and digital innovation.

When the pandemic began two years ago, it catapulted many organizations into the future, rapidly accelerating digital transformation. Work environments changed overnight as remote work became commonplace and market demands evolved. Organizations were urged to upgrade their supply chains for greater transparency and resiliency and to embrace the cloud, everything-as-a-service (XaaS), and edge intelligence to ramp up their transformation efforts.

As 2021 began and many supply networks struggled, technology industry leaders had to re-examine where and how manufacturing happens and focus on improving transparency, flexibility, and resiliency. Organizations also had to reorient and reskill their workforces to optimize remote work capabilities and take full advantage of advanced technologies such as AI.

Also Read: CIOs Should Prioritize Environmental Sustainability Going Forward

At the start of 2022, many of these issues remain front and center for technology companies, with one crucial difference: leaders now have an opportunity to address these challenges more deliberately and purposefully. Instead of managing an immediate crisis, they can lay solid foundations for future innovation and growth.

Some of the specific themes that will be playing a foundational role in 2022 and beyond include:

Taking cloud and XaaS to the next level

The first growth area includes taking the cloud and everything-as-a-service (XaaS) to the next level. More companies adopt cloud-based IT and services to drive transformation and innovation. As XaaS providers expand, it is expected that more work will be needed to manage the technical and operational complexities of hybrid and multi-cloud approaches. XaaS will be critical to digital transformation in the scenario, especially in innovative solutions and business models.

Creating Supply Chain of the future

The second growth area is creating supply chains for the future. Semiconductor chips and components were in short supply by 2021, and while lead times are expected to improve by the second half of 2022, supply chain challenges may not be resolved until 2023. Tech companies are gradually recovering from pandemic-induced disruptions, and they proactively start preparing for future uncertainty and other systemic risks.

Also Read: Two Do’s and Don’ts of Digital Transformation Journey

Building the hybrid workforce

The third growth area is creating the next iteration of the hybrid workforce. Changing attitudes and expectations led to the Great Resignation of 2021. With more experience using a hybrid workforce, tech companies are expected to change their cultures. This includes developing better approaches to manage tax implications and accelerating adoption of collaboration solutions.

Creating a sustainable future

The fourth and final growth area leads the charge to create a sustainable future. The tech industry is working to address key sustainability issues, but there is growing pressure from stakeholders and potential changes in environmental, social, and governance (ESG) reporting laws, which may encourage technology companies to increase their focus on reducing and reversing ecological impact.

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Swapnil Mishra

Swapnil Mishra is a Business News Reporter with over six years of experience in journalism and mass communication. With an impressive track record in the industry, Swapnil has worked with different media outlets and has developed technical expertise in drafting content strategies, executive leadership, business strategy, industry insights, best practices, and thought leadership. Swapnil is a journalism graduate who has a keen eye for editorial detail and a strong sense of language skills. She brings her extensive knowledge of the industry to every article she writes, ensuring that her readers receive the most up-to-date and informative news possible. Swapnil's writing style is clear, concise, and engaging, making her articles accessible to readers of all levels of expertise. Her technical expertise, coupled with her eye for detail, ensures that she produces high-quality content that meets the needs of her readers. She calls herself a plant mom and wants to have her own jungle someday.

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