It is said that change is inevitable, but it is what precipitates it that seems to take people by surprise.
Now through the entire history of man, change has always been our stead of getting better and improving; yet we turn to act as if it is vice versa.
Just some few hours ago, nobody could envisage the USA being downgraded by Fitch from AAA to AA+ in such a sudden manner.
The sudden change behind the global stock market sell-off today is that unexpected announcement from Fitch downgrading US credit rating.
Change is all that one needs to ever keep on in life.
Change is not something you have to wait on, it happens without your permission.
For instance in the financial service world or space, a lot of unprecedented change is taking place.
In fact, it is so phenomenal that it can entirely throws away all that you have ever learnt concerning Finance.
Just some few years ago, no one ever thought that goods and services could be paid through a smart device but now it is being done.
This phenomenon is trying to pose like everything that we have ever known about finance seems to be obsolete, especially regarding some of these technological companies.
For example, a technology company sets up and within just few weeks, its revenue is in multi-million of dollars and might not even have any physical location. It does not respect any borders or regions. It just shows up at your face unannounced.
For instance, the technological cab service providers are currently disrupting the local cab regular services.
Yet in Finance, we study things that precipitate a cause to establish or expand to other regions.
We take case studies and do a lot of evaluations and assessments.
For instance, PESTLE is mostly a key module in doing these.
P – Political factors
E – Economical factors
S – Social factors
T – Technological factors
L – Legal factors
E – Environmental factors
It seems that the only driving factor is Technology, all other factors seems to be obsolete. This is why I stated early on that it seems that everything we have known about Finance is turning to be obsolete.
For example, look at the volume of goods and services being rendered by Alibaba, Amazon and so on. It seems as if there are no borders in the world any more.
This is change!
So what should one do under these wonderful phenomenal changes?
Quickly understand that everything you have known is getting obsolete and therefore you need to open up to new ideas.
Don’t ever doubt how exponential something can become, especially when you don’t understand it.
Just embrace it!