Technology continues to advance at a rapid pace—faster than ever before. We often spend some time at the end of the year planning for the year ahead. Let’s take a moment in the middle of the year to see what is going well—and what is not—in order to best prepare our businesses for the second half of 2024.
To do this, let’s walk through a brief four-step mid-year review process.
Recognize New Tech Trends
As stated, technology is evolving faster than ever before. We must constantly stop to take note of what is changing and how it will impact our businesses. Gartner suggests worldwide IT spending will grow 8% in 2024, and with this we see a shift to a greater focus in gen AI (artificial intelligence) spending. Additionally, the average lifespan for mobile phones is shortening and consumers and enterprises are replacing mobile phones earlier. These, of course, are just a few of the tech trends to note in mid-2024.
Review Your Annual Goals
Did your business set explicitly stated annual goals at the end of last year? Or maybe you just had a general idea of how 2024 would unfold? Either way, now is the time to check in with how that is going. Are the goals being met? Did a tech project unfold the way you had anticipated? Or have there been unexpected hurdles and setbacks? Do new goals need to be set? Now is a good time to address these questions to identify how to proceed in the months ahead.
Seek Employee Feedback
Your workers have their boots on the ground, doing the work to ensure new tech implementations and construction projects are successful. Ask workers for their opinions on how that tech implementation or project is going? Or perhaps it is time to ask them what needs aren’t being met on the project? Perhaps there is a way new, innovative technology can fill in a gap that hasn’t been explored in the past.
Adjust, as Needed
Now is the time to adjust processes and technologies if something isn’t going as planned. Once all your data has been collected surrounding your own thoughts and your employees’ thoughts, determine your next step forward. Consider what needs to be done—or what technology might need to be implemented to take your business to that next level.
While it takes time to do this type of analysis, it ultimately will help set your company up for success in the future. With the pace of technology continuing to speed up, we must constantly be evaluating if what we are currently doing and using still makes sense for our organizations.
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