Europe is the engine driving business transformation

The way humans do business will drastically change in the next three to five years, and Europeans are leading the way. This is according to a new report by Samsung, which investigates key trends impacting the workplace culture. 

This new business model we’re all about to embrace, Samsung dubs the Open Economy. Basically, it revolves around high levels of collaboration between companies, contractors and partners, while retaining industry-standard security levels. The report calls upon WIPO’s Global Innovation Index, which claims European countries occupy eight out of the top ten slots. 

Getting this high level of collaboration means adopting new structures, technologies and business thinking, consequently demanding a significant shift in business habits. Being unable to change these habits fast enough creates room for security issues. 

 “Relying on past certainties will not foster the creativity that businesses will need to compete in tomorrow’s global market place,” says Marcos Eguillor, founder of innovation and digital transformation consultancy BinaryKnowledge. “Companies will need to adopt the technologies that allow them to be fast and flexible enough to spot and understand their next competitive advantage, and recognise when it’s time to disengage from the previous one.”

Current workplace security systems aren’t prepared for open working practices, the report says. Last year, cyber-crime had cost the global economy £335bn. By the time we reach 2019, that figure will have risen to $2.1 trillion. It all boils down to one thing: tomorrow’s companies won’t tolerate companies, partners and contractors relying on legacy security models. 

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