On 16 November 2017 (Thursday), SMU Office of Alumni Relations and SMU Academy collaborated on a thought-provoking and inspirational delivery on the topic of ‘Global Mega-trends and Innovations for Tomorrow’s Businesses’, by SMU Lee Kong Chian School of Business Adjunct Faculty, Dr Frank Siegfried (see photo above).
To frame the session, Dr Siegfried posed three questions:
· State 1 significant change in your technological environment over the past 3 to 5 years?
· What global developments are you interested in and why are you interested in them?
· Recall a situation where you had to make an important decision – but felt uncertain about it. Why were you uncertain?
The session focused on the following mega-trends: Climate Change, Ecological Footprints, Global Economic Integration, Globalization, Internet of Things and Big Data Analytics, Autonomous and Self-Learning Systems, Nanotechnology and New Materials, Cyber Security.
After the introduction of mega-trends and expounding on the shifting of the world’s ecosystem due to global risks, Dr Siegfried brought the alumni audience into the VUCA world. VUCA in itself has become a buzzword, representing Volatility, Uncertainty, Ambiguity and Complexity. To respond to VUCA, Dr Siegfried advises: meet Volatility with Vision; meet Uncertainty with Understanding; meet Complexity with Clarity; and meet Ambiguity with Agility.
For organisations and employees, Dr Siegfried had these tips to share:
· The future is already here – recognize it.
· Expect continuous, unprecedented and irreversible change.
· Pace of change accelerates – anticipates trends, address complexities, and challenge existing boundaries.
· Magnitude is beyond operational efficiencies – it is transformational.
· Strike a balance: improving profitability while transforming core competencies.
· Realign structures, systems, culture and behaviours.
· Focus on the most important asset – the employees.
The hour-long presentation was followed by a presentation of SMU Academy’s offering, in particular the ongoing Graduate Certification in Communication Management and the upcoming Graduate Certificate in Innovation, which will kick-off in 2018 on a new slate. Please find the information below.
Graduate Certificate in Innovation
Introduction to Opportunity Recognition & Ideation Management
Business Model and Technology Innovation
Innovation Management Tool ‘Design Thinking
Turning Innovation Concepts into Business Cases
The Financial Potential and Risks of new Business Ideas
Business Model and Technology Innovation
Graduate Certificate in Communications Management