Has Some Business Wisdom Become Outdated?

It's fair to say that businesses have changed in scope and delivery over the years. Even forty years ago, no business had to worry about their online strategy, their social media personality, their online reviews, remote working, cloud suites, company IT infrastructure, or many other new essentials that a company must consider if they hope to succeed at all. Sure, not all businesses are as moved by the times, but a majority of them are. This means that if business life has changed so much, it's good to identify what business wisdom might need updating. It's easy to think that the foundational elements of a practice will be timeless, and in some cases they are, but in others they won't be. So, has some business wisdom become outdated? If so, what might that be? In this post, we'lll discuss that and more.

Hiring Might Not Be So Local

If you work in the tech field, you're quite aware that companies are reaching out to hire people not only across the nation, but globally. Having access to such a large pool of talent is not only inspiring for prospective employers but professionals also, who might be able to provide their skills as international freelancers by working remotely. Not all businesses can conform to this of course, but companies that might offer the benefit of a higher salary can ensure they gain access to the top talent worldwide. That in itself shows promise for the future.

A Lesser Need for Office Space

Many companies that have implemented a remote work program are now considering if renting or owning expensive inner-city office space is worth it. For some practical purposes, it can be, and the benefit of working face-to-face with others is hardly old-fashioned. However, it's also important to note that a lessened need for office space can save startup companies a great deal of initial investment, and so it's no wonder many companies are weighing up their fundamental costs in this way. As time goes on, this may change how the commercial and office districts of many inner-city environments will change. As you can see here, online hosting platforms are truly redefining how companies structure their working logic.

A Less Rigid Marketing Persona

It's interesting to see how many companies have subverted their professional persona in order to appeal to millennials and gen-Z, who tend to feel more relaxed about the artificial candor many companies feel is important to put out. For example, some brands have discovered innovative ways to reach a wider audience by leveraging TikTok's immense popularity or just buy TikTok views cheaply to create hype around their videos, allowing them to maximize their marketing efforts while staying within budget. You need only look at how some firms have leveraged TikTok humor to see that the new norm for many companies is being relatable and eschewing artifice. How successful this will be in the long term is anyone's guess, but we can't pretend that this isn't a seismic change in the marketing landscape. You'd be surprised just how well this can play out over time, and how the fundamental rules of marketing have been shifted.

With this insight, we hope that business wisdom, even though it's changing, remains navigable even at a time of great change.