Keeping business survival in sight

IN today's volatile and complex environment, businesses often struggle to achieve their targets. Indeed, many businesses now adopt a more conservative growth plan. To succeed in these uncertain and challenging times, businesses need to have "invaluable sights" - namely foresight, insight, hindsight and oversight - to develop, grow and sustain their businesses.

Foresight

Businesses need to have foresight to seek out new opportunities, develop capabilities and invest in resources for the future. With a forward outlook, it allows them to prepare for looming threats, and be at the forefront of the industry. Instead of merely adapting to changes, businesses can induce revolutionary changes in their industry to remain relevant. For example, an increasing number of companies such as IBM and Lenovo are hiring ethical hackers to try breaching their security systems. By doing so, businesses are able to anticipate and prevent external system breaches. FireEye recently reported that businesses in South-east Asia are increasingly falling prey to cyber attacks. Businesses which had the foresight to identify these issues and took appropriate action to mitigate risks are now reaping the rewards of their efforts.