Tag: paradigm shift

In 2020, the world found itself in a state of flux. A global pandemic disrupted the world order while the digital transformation that is the 4th Industrial Revolution (4IR), with its challenges and huge potential benefits, presented a fundamental paradigm shift.

Looking back to the start of 2020, it is clear that as early as the first quarter we saw the pandemic render economic projections and business forecasts obsolete, while industries across all sectors of the economy were forced to reinvent the way business is done, leading to dramatic shifts in the landscape of the risks we face.

Have COVID-19 changed world views or will we have forgotten about everything in six months? Before 2020 when you heard the word virus you immediately thought of the damage this could do to your computer. Losing data was the worst outcome you could think of. Until COVID-19 hit, changing the world and the way we think.

Today the focus on ‘a job’ is more pronounced than it has ever been before in our global commercial history. We are living on a planet that is rapidly becoming less and less sustainable and which needs to progressively take better care of its people, and vice versa.

Technology is fundamentally changing our relationship with money. Fact. What we do for entertainment, how we get from point A to point B and even the most mundane routines such as grocery shopping are exponentially changing, on a daily basis. We are also seeing substantial changes in our relationship with money, specifically in the way we manage our money.

South Africa’s approach to entrepreneurship needs to undergo a paradigm shift and developing the right mindset among young would-be entrepreneurs in particular is the starting point.