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Head office

Profitability Business Simulations Ltd

Stables 1, Howbery Park, Wallingford,

Oxfordshire,

OX10 8BA

Contact

T +44 (0) 1491 821 900
hello@profitability.com

Date |

Brexit might be new, but uncertainty isn’t

As the reality of Brexit looms ever closer

how can we give our people the confidence to navigate through the chaos?

When we introduce initiatives that fundamentally change our businesses, that require urgent change, we leave our people ill-prepared.

The choice to leave the European Union is perhaps the biggest political event to occur since the decision to join the very same Union in 1973.

With the ever-changing political climate, comes uncertainty in large quantities. And with uncertainty comes slowing investment, reduced hiring and a decrease in output. Recently, the Bank of England (BoE) reported that a no-deal hard Brexit would see an output drop between 2.5 and 6.9 percent from firms in the United Kingdom. 

Ambiguity in the political landscape leads to detrimental effects on the value of the Pound. As investors look to shift their capital into safe havens, the demand for sterling, and in turn, the value of the currency will depreciate. 

A reduction in the value of the pound will result in decreased buying power for UK-based businesses and for businesses that import goods as part of their production process this could be extremely damaging, for instance the food-service industry will be particularly hard hit. Mark Carney, the Governor of the BoE, was recently quoted saying that food prices will see a 10% increase following a no-deal Brexit – and in a market where margins are so slim, efficiency gains and cost cutting is essential.

The more worrying thing is the lack of planning in the market, an agent’s report produced by the Bank of England to determine the amount of planning for Brexit in different industries found that just under 70% of those surveyed had ‘no change planned’.

The future is uncertain, yes. But that isn’t necessarily new. 

What also isn’t new either, is our typical approach for helping people to navigate these changes. In other words, preparing people. We haven’t yet agreed on a method that adequately and effectively enables people to make the changes we are asking of them, under pressured circumstances. The best we have come up with is classroom based training, in most cases. 

That means, when we introduce initiatives that fundamentally change our businesses, that require urgent change, we leave our people ill-prepared.  

Brexit will no doubt bring about major shifts in our businesses, in ways that are not yet clear. Our belief at Profitability is that your strategy becomes reality, when your people make it their own. What we mean by this is that in order to understand how they can make the best decisions for your business, they need to have experienced the reality for themselves. Seeing it in PowerPoint just doesn’t cut it. 

As the reality of Brexit looms ever closer, we need to give our people the confidence to navigate through the chaos, with solutions that reflect the precise challenges, pressures and conditions that our people are going to face.  

We take time to understand complex problems, 

we work together with you to resolve them.

News

We have a way of thinking about change and we want to tell you all about it. Why not come along to next week’s conference and hear it for yourself?

Driving Change Conference – 12th September 2019

News |

There’s a great deal of evidence to suggest that what people create for themselves, they value more.

What if we didn’t tell our people what to do?

In Tali Short’s book ‘The Influential Mind’, she writes that “‘Govern your surroundings’ would be your brain’s slogan, if it had one. Our biology is set up so that we are driven to be causal agents.”

News |

Recently we have been helping a number of our clients to introduce new ways of working, underpinned by new digital technologies.

Lorry drivers and the technology adoption problem

Traditional models of adoption when it comes to technology in business have focused on the technology itself

News |

Most businesses naturally cut costs. In the same breath, they will say they need to create long term value.

Are you cost cutting, or value creating? Maybe you’re neither.

In October 2008, internet sales as a percentage of total retail sales amounted to 5.3%...

News |

How many ways are there to implement a new technology in your business?

What our designers get up to: a simulation with 532,441 possible outcomes

At Zilliant’s Mindshare conference in Texas we launched an application that precisely models the outcomes of critical business decisions

News |

Stryker’s question to us was: how can we create a sense of shared purpose across our global sales team, in a way that shows them the commercial value in black and white?

We love having a clear problem to solve. Stryker’s global sales team gave us one.

Stryker is a US-based company and world-leader in the design, production and supply of medical devices and equipment such as joint replacement implants, surgical tools, stents and heart valves.

News |

As the reality of Brexit looms ever closer

Brexit might be new, but uncertainty isn’t

As the reality of Brexit looms ever closer, how can we give our people the confidence to navigate through the chaos?

News |

Insight

In Great Britain alone there are some 250,000 secondary school students in one form of Business Education or another.

250,000 opportunities a year to prepare young minds for business

Insight |

When James Cameron, world famous movie director, was starting the revolutionary AVATAR movie project he had t–shirts made up for his crew, with the words:

Hope is not a strategy

Insight |

In the traditional model, your business is the story. In the new model, your people are the story.

You are not the story, your people are

Insight |