Join us for the next Advisor Connect Meeting by registering below.
This is an opportunity for advisors and other professionals across multiple disciplines to learn from each other, understand each other’s expertise and build a network that is required as trusted advisors to the unique Family Business sector.
Your local Advisor Facilitator Marcus Armstrong will be your main point of contact, marcus@platinumpeople.com.au.
Note: This event is for Advisors only.
This month's topic: Connecting Culture and Systems - How understanding of Organisational Maturity in Family Business impacts Culture, Change Management and Technology adoption outcomes.
There’s no one doubts that technology has changed, and continues to change our lives. In 2023, retail e-commerce sales for instance, amounted to approximately 5.8 trillion U.S. dollars worldwide. This figure is forecast to grow to 6.31 trillion this year and exceed 8 trillion dollars by 2027.
In 2023, the six biggest social networks (including Facebook, YouTube, WhatsApp, Instagram, WeChat and TikTok) exceeded a total membership of 10 Billion (not accounting for overall of users across the platforms), and estimated at over 4 billion unique users. If it constituted a country, Meta which owns Facebook - the most popular social media platform, would be the most populous country on the planet, with twice as many people as India. Technology pervades our daily lives in how we use computers, communicate, access entertainment, drive, shop, form relationships, and so forth. Unprecedented and fast innovation in technology provides digital information that increases and enables customisation, underpins predictive analytics, and redefines boundaries.
According to a report last year in Digital Enterprise Journal (taking in responses from over 3,300 companies), 68% of IT resource is spent working on tasks that do not actually contribute to key business outcomes. This is quite an alarming statistic!
Yet, the top performing 20% of survey respondents say their IT team or providers spend about three times more on unplanned work and are generating 4.7x more revenue from new services compared to lower-performing respondents. What is enabling this for these organisations? - Having processes for aligning IT work with business goals, strong collaboration capabilities, and better visibility into the use of their technology investment. The report also found that a lack of automation is causing huge losses for businesses. According to the report, millions are lost every year because processes are not automated.
So, what are the implications? Well, there is a direct correlation between technology adoption and staff satisfaction, level of engagement with the company and its objectives, business culture and ultimately the business’ ability to respond to new competitive and economic threats, as well as opportunities.
Key Takeaways:
During this session we'll examine how a 360-degree review incorporating an assessment of people and process aids in decisions associated with investment in, and implementation of, technology.
- Understanding the business state associated with Organisation Maturity
- The 4 Measurement Quadrants
- How and why the state of technology integration impacts process maturity and overall business governance
- The correlation between technology investment and Employee Connection
- People Capability Maturity and the Theory of Motivation
- Change Management - framework and organisational design
About our Speaker: Tal Evans
As a growth-focused technology business leader for over 3 decades, Tal has developed and led substantial sales, product, IT services, software development and operations teams. He has founded and built several start-ups, driven successful M&As, fixed broken businesses, and managed both growing and mature operations with national and international footprints. A solid progression from technical roles in development and analysis, ultimately led Tal on a path as a director and co-owner of one of Australia’s most prominent privately held technology businesses, with a national footprint, well over 200 employees and $180m in revenues till 2010. Over the course of his tenure, Tal served on advisory boards for several global vendors, as well as state government agencies. Tal went on to head a regional division of Dimension Data (now NTT) - a large global technology firm, as well as co-founding an equipment manufacturing and distribution business that operated nationally through channel partnerships. Since 2018, Tal now owns and heads Majestic Computer Technology, a Digital Innovation Advisory and Consulting firm, that works with business owners and senior leaders, helping them embrace the most appropriate technologies to optimise operations, retain great talent and attract profitable relationships. Majestic deliver capability and outcomes across IT managed service, business automation, cybersecurity, software development and AI services to SMEs and several large organisations.
We look forward to seeing you there.
This is a hybrid event. If you are unable to attend in person and would like to join the meeting via video, please email Sarah Herft for the hybrid link, sherft@familybusiness.org.au.
By attending you will receive 5 CPD points.
Note: This event is for Advisors only.
Thank you to our Event Host
Please contact the FBA Office on 1800 249 357 if you require assistance with your registration.
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