A Report on Future-Proofing Strategies for Business Success

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Importance to adopt future-proofing
strategies

Date......................
To,
The Colleagues,
From,
Your Name here
Subject: Importance to adopt future-proofing strategies
Executive summary
Future-proof strategies are required to achieve sustainable operations and outcomes in the
business. The presented memo has a main focus on the future-proofing of the business
through effective dealing with problems and issues. Sustainability from the point of
environmental, social, financial and technological aspect is required. The presented memo
discusses the importance of future-proofing strategies for the organisation. It is significant for
the organisation to integrate sustainability or purpose-led operations to achieve social and
financial values. It is required for the organisation to increase investment inflows and
generate higher profitability. It is also significant to protect against the recessions. Social
licence, digitalisation of the operations and increased value through sustainability are major
benefits to ensure the involvement of the stakeholders toward the business growth and
continuance.
The session discusses the problems the organisation face to achieve profitability, attract the
investors and improve the satisfaction in the social environment. It has a discussion of the
social license, purpose-led business and sustainability to achieve future-proofing strategies.
The core goal of the memo is to drive the team toward the sustainable practices from the
financial, environmental, social and technological aspect. It has a discussion of several
businesses as examples from the global context how they have responded to the changes over
the challenges and risks.

Discussion
Problems that managed to detect
The businesses normally oppose adopting the changes as there are opportunities equal to the
risk of the barriers and impacts on the current process and practices. However, changes are
occurring in the business operations. The management has to understand the need for the
changes.
In the presented memo, the management problems such as social license are discussed. It
means how the organisation and its practices are valuable for the individual, stakeholders and
the whole planet besides the profitability. The societal benefits are considered to achieve
effective engagement and satisfaction through the operations. Therefore, there is a problem in
the management of the business to integrate the social environment in the functions to
achieve high quality and satisfaction. It also determined financial sources and funding is
complex for an organisation. There is no effective investment when the organisation has no
alignment with the social community and environment for equal returns. Several businesses
are adopting the changes in business operations to support the returns to the surrounding. The
investors are moving toward the sustainable business models because without effective
understanding and benefits of environmental values; a business cannot sustain the operations
over a long period.
Addition to it, the problem of digitalisation and purpose-led business is integrated and
planned to manage. For example, the cost and time of technological integration is high for
businesses so that they oppose. Also, the benefits of the digitalisation in the businesses are
not limited to the current market and automation can be achieved to become future-proof.
Sustainability is considered a major problem in the business management as, without it, the
management cannot retain the operations for the long term and also, there is no effective
engagement of the community and return to them.
Therefore, there are mainly four problems: social licence, digital technology, funding and
sustainability. The problems are critical to consider achieving competitive growth, scalability
and reliability in the business functions to achieve future-proof against the failures.
Solution/recommendation

The article has shown several solutions to a problem, but it depends on the business to select
and implement a particular solution for the outcomes according to the capabilities. For
example, social licence practice is mainly achieved through the implementation of principles
and recommendations from the major organisations and their governance. Also, it is
recommended that managers can consider unnecessary uncertainty and complexities in the
principles to support effective decision making. The solution has main values in the
alignment of the stakeholders in the decision-making process to achieve more sustainable and
adoptable outcomes. High satisfaction and return to the community ensure lasting of the
business functions.
The problem of financial issues and constraint is mainly because of investors. However, it is
recommended a solution that people, banks and government is being aligned to the
businesses that are returning values to the environment and community. Higher returns to the
community are becoming attractions for the investors. The organisation also can take
advantage of the loans and financial supports through effective integration of corporate social
responsibilities.
The adoption of the technology is a solution for the business to compete for the customer
market, faster expansion and cost optimisation in the product and services. The organisations
can provide faster services through real-time communication and order processing through
technology. The digitalisation is also a good solution as it provides an in-depth understanding
of the business practices to attract and engage the customers. From small to large businesses,
digitalisation has values to increase the customer base and their satisfaction. However, the
risk and barriers to moving toward the digital ocean must be considered. There is a need for
high capital for the design and manufacturing of the innovative and creative systems whereas
their security and performance is always a point of concern.
Decreasing societal value proposition and poor sustainability are major concerns for the
management. The faster consumption and unmanaged use of the resources can constraint the
business in future to achieve the outcome and execute the operations. The organisations are
recommended to identify or implement the business processes those can long last the
operations through optimal responses to the environment as higher the availability of the
business raw material and suitable environmental conditions, higher profitability and
continuance can be determined.

Discussion of the article/story
The article has the title ‘Why your board needs to implement a future-proofing strategy?’ and
it shows the importance of the future-proofing of the business. Future-proofing means to
adopt the strategies that can help the organisation to achieve long-lasting operations,
profitability and customer involvements. Therefore, the main focus is on the core problems
the management board might focus and in such problems, the future-proofing can help to
achieve advantages.
With the example of Tesla, the article indicates that innovations and changes are an essential
part of the business function. For example, Tesla has more effectively used electric power
instead of Edison and created the electric power tools and vehicles to achieve unimaginable
scale. It also shows changes seem nearly hard and complex till the management starts to
adopt them. Through the example of Tesla, the article informs that changes must be utilised
in competitive advantage form else they becomes risk and barriers for profitability.
The article also has a discussion on the definition and importance of the social licence to
operate. It shows that social licence to operate can be defined as the level of the approval and
acceptance among the stakeholders and local communities for the business operations. The
article focuses on the higher degree of social licence to operate as it improves customer
satisfaction, engages the employees in performance and quality and attracts the investors. The
principles and recommendations from ASX Corporate Governance can be used to understand
the practices and their potential outcomes. However, capitalism also impacts millennial. The
businesses are moving toward alternative investment funds and sources. The automation and
continuance in the future have an impact on the investment available to the organisation.
Therefore, it shows that suitable funding is essential to achieve growth and scalability along
with services and satisfaction to the community. The broader social changes and challenges
must be integrated to reduce the risk of failures.
It also indicates that the basic small businesses on the digital platform are down in the year
2017 in comparison of the year 2013 whereas medium-size businesses are increasing online.
There is an approximate 24% more increase in medium-sized businesses from the year 2013.
It shows that digital strategy is an essential part of the business to resolve the issues, achieve
automation and compete in the market for the profitability and customer market. The article
also represented the concept of sustainability and indicated how several organisations are

using the sustainable concept to achieve cost-effectiveness and profitability along with
effective corporate social responsibilities toward the environment and community. Also, the
benefits of the purpose-led business are discussed mainly for the customer and financial
benefits.
Conclusion
The report memo has discussed the article for the major problems it has discussed. Also,
solutions and recommendations are determined for the problems from the article. The
analysis of the article shows that the businesses have to adopt future-proofing strategies to
ensure continuance in the operations. It is also required for them to achieve competitive
benefits and manage the risks and barriers. The future-proofing drives the businesses toward
effective engagement of the society and investors and empowers them for the effective use of
the technological advancements. The organisations can respond to the changes adequately
within the time and cost to attract the customer market and automate the operations. The
article has concluded that the organizations have to adopt the changes and challenges to
prepare the team for the future and competitive advantages.