The COVID-19 pandemic confirmed once again that we live in the time of VUCA. 

First coined by the military following the 9/11 terrorist attacks, it was popularised when adapted for the business world by Bob Johansen in his 2009 book, Leaders Make the Future.

In this VUCA world that we live in, change is rapid and unpredictable. This is exacerbated by many different interconnected factors coming together, potentially creating chaos and leading to a lack of clarity and heightened uncertainty. As the age-old adage says, “the only constant is change”, except this time, we are looking at an unprecedented speed of change and accompanying volatility.

It is important to recognise the significance of what this means for businesses - In this era, any enterprise, without exception, is part of a greater value chain. To meet the corresponding changes of VUCA, limited part-changes in the value chain is insufficient.

Instead, what is required are new business models and novel technologies that transcend past limitations to create new value.

THEREFORE, OPENNESS IS CRITICAL TO SUCCESS IN THIS ERA.

Openness does many things. These are what I like best, especially in the context of business.

• It breeds innovation and creativity
• It increases the efficiency and efficacy of complementary capabilities
• It facilitates faster organisational growth 
• It increases nimbleness in adjusting to new market needs and changes

This is why I have absolute belief in Genesis Medtech’s disruptive business model.

THROUGH AN OPEN MEDTECH PLATFORM, WE SEEK AND INTEGRATE RELEVANT TECHNOLOGIES, PEOPLE AND IDEAS TO RESOLVE THE DYNAMICALLY CHANGING NEEDS OF DIFFERENT MARKETS. 

 As a result, we have within a short period, gathered a group of entrepreneurs with deep industry experiences and outstanding operational capabilities.

I firmly believe this is the way forward to dynamically deliver real impact for the healthcare industry even in the midst of constant changes.