* Earlier, few factors affected businesses. Nowadays, many factors must be taken into consideration. PESTEL, OR Political, Economic, Social, Technological, Environmental and Legal factors will affect businesses. * So, businesses have to undergo dual transformation. On the one hand they must reposition themselves to cope with change in society and consumption. And on the other they must plan to evolve to keep up with the future. * Businesses have to realize the inflexion point when it becomes imperative to transform and scale up. Kodak, for instance, did not transform at the right time, when photography and film went digital.
These and more insights from the ground in this great episode of TalentWise.
Run time – 28.51 mins.