Welcome to the September 2022 edition of the BusinessOptix newsletter.
Are you ready for the metaverse?
Yes, we know that this sounds at best like just the next fad and at worst like a new installment of The Matrix series of movies. But before you brush it off, consider this: when the Mosaic Web browser was released in 1993, internet usage jumped to 2 million computers by January of 2021, and most people and companies pooh-poohed it as something they'd never use. Today, 5.25 billion people have access to and use the internet; that's 66.2% of the world's population!
Silicon Valley tech companies such as Facebook are championing the metaverse (Facebook changed its name to Meta to reflect how seriously it's taking it). But, it's also being taken seriously by more traditionally conservative and risk-averse firms such as PwC. Not only is PwC taking it seriously, but so are many of their biggest clients, "In PwC's survey of over 5,000 US consumers and 1,000 US business leaders, 50% of consumers call the metaverse exciting, and 66% of executives report that their companies are actively engaged."
To learn more about why BusinessOptix Digital Twin capabilities should be part of your organization's metaverse strategy, read our recent blog.
Are you worried about the impact of The Great Resignation on your organization?
The Great Resignation – it's not just a hashtag. A term first used in May 2021 to describe a pandemic-related significant exit from the workforce, it doesn't seem to have slowed down significantly more than a year later. Indeed, this Fortune article, “The number of employees who are considering quitting their jobs right now is around 40%, a number that hasn’t changed much in recent months.”
While there may be many ways to staunch this workforce hemorrhaging, there are also things that you could and should be doing to mitigate its effects on your organization.
Turn the business risk posed by The Great Resignation into a business asset. BusinessOptix's modeling capabilities capture process information not accessible to mining tools, such as knowledge held in people's heads, and then produce the work instructions and support documentation that reflects the current state.
Sustainability initiatives or business transformation? Why Choose?
These are challenging times for most businesses; global socioeconomic turmoil has led to spiraling energy, costs, supply chain disruptions, workforce restlessness, and more. Business transformation has never been a greater imperative to address these challenges and survive. But, it's also true that sustainability is, or should be, a corporate priority; the effects of climate change are all around us. Investors, regulators, customers, and even employees want to know that your company is making serious sustainability efforts. Don't worry; you don't have to choose. Read our recent blog, "Sustainability vs. Business Transformation - Not a Zero-sum Game," to learn more, as well as our ESG fact sheet.
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