What is driving change? A global perspective.

What is driving change? A global perspective.

A country with a population that embraces change will be exposed to new opportunities, build flexibility and more quickly adapt to ever-changing environments. In this regard, Jamaicans, can put themselves in an advantageous position by understanding the factors driving change in the economy, particularly globalisation and geo-political changes.

Globalisation connects the world through trade and technology. It creates free market economies that allow for easy transshipment of goods and allows countries to have an unlimited access to markets across the world. Technological advancements form a critical component of globalization. As developed countries upgrade their systems, developing countries often do their best to -undertake similar upgrades in a bid to keep up with the best business practices. Of late, the advent of artificial intelligence (AI) is presenting challenges for developing countries. A report by the McKinsey Global Institute (2020) suggests that up to 800 million jobs could be lost worldwide due to automation by 2030. A report by the World Economic Forum in 2020 predicted that by 2025, up to 85 million jobs will be lost due to AI and automation. However, it notes that 97 million new jobs may also be created. While some jobs will be displaced, others will be created, so it is important to manage the changing environment to exploit opportunities as they arise. It is therefore crucial for public sector workers to adopt change management techniques to become more adaptive in the face of change. This adaptability can make the difference between being an innovator and being left behind.

Geo-politics in its simplest form, is how geography affects politics and international. Currently, geo-political challenges have been manifested through the war between Russia and Ukraine. This presents a challenge to Jamaica, where the country has to monitor the conflict and be ready to implement changes locally to address any problems that may arise – and there have been many.

Change Management encourages us to prepare, manage and sustain change. However, the reality is that there isn’t always enough time to prepare for the change as it is thrusted upon us, but we can certainly manage how we navigate these as a country and seek to sustain the gains made. This will inevitably build resilience and therefore prepare us for the next wave of change.

    • Change Management
    • By Dwayne Dillon