Transformation Of Business Must Be Visionary: Leadership Coach, Bhasin
The transformation of business must be through future oriented and using technology and trends should be the utmost priority in any business transformation, said Brigadier Sushil Bhasin, Leadership Coach.
Speaking at the 17th Security Leadership Summit 2022 by the Central Association of Private Security Industry (CAPSI), Bhasin added that we need to learn how to become an efficient leader to lead the organisation's business transformation.
Change is the only constant thing that we’ve always heard. Change is happening for ages, but what changed today is the speed of change and that one thing, “speed” is making all the difference. The pace of life has also increased thanks to technology, he said.
“In this fast-changing world, businesses are changing, they are getting disrupted much, much faster than ever before, it is becoming important for us in the industry to see how we will look at the future. The success of a business largely depends on how well and fast leaders can adapt to the changing world,” he stated.
Further, on artificial intelligence (AI), he said that AI is ubiquitous in the security industry now, “it has become the way of life, and people have recognised the value of using AI in various applied scenarios,” he added.
Also, he said, “I think it’s another fundamental technology that has been able to reshape the security industry.”
The combination of both AI and Information Technology (IT) took the security industry to a higher level, it has automated workflows and procedures and made things simpler than they were before, he said
“With more security cameras and other devices being introduced and brought into the network. The security industry is moving far ahead with these two things,” he further added.
On cyber security, he said that it is now growing. With everything happening with technology, it also becomes a security hazard, therefore, every industry and company today needs to build up its system protection against online presence.
“What got you here won’t get you there,” Bhasin quoted Dr Marshall Goldsmith. He elaborated the quote by saying, “All you have been doing so far in your life, that may be responsible for getting you success here, but please don’t think that will take you further to any higher level. You will have to adopt different ways of doing it.”
He further talked about the term “VUCA,” coined at the beginning of the 1990s. VUCA stands for volatile, uncertain, complex and ambiguous, representing the world of turmoil that was coming up, particularly after the follow-up Soviet Union and the fast pace unstable world that was forming, he said.
He claimed that in 2015, I discovered my own three D’s that would represent the world at the time – diverse, disruptive and digital. With these three D’s, we are in a world that continuously changes.
Bhasin believes that business risk has not been seen for generations – some companies fail while others thrive through innovation and advancement. The difference between the two is resilience.
In last, he said, “Firstly, the crisis creates opportunities, some of humanity's best inventions happened during the first and second world wars. Likewise, a lot of innovation happened during Covid when necessity became the mother of invention.”
