While understanding the strategic circumstances leading to such narrowing of scope, it is generally true that businesses often sacrifice more than they gain when they do so or find themselves in that position, leading to exposure to significant operational and financial vulnerabilities.

Consider Kodak: its revenue exceeded $14b in the 90s, compared to just about $1b in 2024. Additionally, the company is now more heavily leveraged, with a higher debt-to-revenue ratio than in the past. It can also be noticed that its revenue has been on a continuously downward spiral, in some years dropping by as much as 15%. In short, its niche technological focus is appealing, but its financial side is haemorrhaging.

This precarious financial position highlights a critical risk—any disruption to its niche could push it to a point of no return.

I use a similar set of conversation starters as you describe in conversing with business executives trying to define risk and boards providing oversight of risk mitigation.

Also don’t forget related critical issues such as reliable power, and related to this, the ability to get service for damaged equipment, replacement power bricks for laptops, for instance.

While there are numerous resources available, I feel there is a greater need for central governments and local authorities to provide structured awareness programmes or exercises. Such initiatives would signinificantly help individuals understand the basic fundamentals of cybersecurity and adopt safer online practices.

Accessing mental health services is not just stigmatic, but can be expensive, and the attendant therapeutic processes prescribed are often both lengthy and costly too.

The simple, practical recommendations provided here are insightful, cost-effective and valuable.

They will be shared appropriately. Thanks.

I strongly feel, outsourced executives might lack in-depth understanding especially of the industry nuances or the company’s unique market position, which can lead to less effective decision-making.

The presence of outsourced executives might lead to lower morale among existing employees, especially if they feel their opportunities for growth or promotion within the company are being diluted.

Outsourced executives might have other clients or previous associations ( as human as we all are, some of these might even be tighter relationships ) that could create conflicts of interest, potentially compromising their ability to act in the best interest of the current business.

However, these practices only take root in developed countries or fully developed business environments. Poorer and developing countries would find it very difficult to adhere to them.

In my interactions with businesses in developing countries, I have observed significant challenges that would hinder implementing effective ESG practices.

Weak regulatory frameworks, corruption and governance issues in these countries could often be at loggerheads with effective ESG initiatives.

In poorer countries, the urgent need for economic survival and growth frequently takes precedence over long-term sustainability. Not to talk about socio-political instability and conflict, especially in Africa, which force companies to prioritise immediate challenges over any possible investments in ESG.

Furthermore, high levels of inequality and social unrest divert attention and resources away from any sustainable practices.

These factors collectively make it difficult for businesses in poorer and developing countries to fully embrace, drive the value that comes with and benefit from ESG principles.

Regarding data storage options, I find myself deliberating between cloud storage and physical storage. Each has its merits, but in instances of tropical storms and similar disasters, I’m persuaded to think physical storage proves more advantageous. It offers cost benefits and accessibility, particularly in the very instances when power and internet services are disrupted.

Often, our focus is not on broader educational and skill engagement but rather on achieving immediate deliverables in terms of tasks and objectives. As a result, learning that could otherwise enhance our Digital IQ is typically narrowed to meet specific task/work-related demands, thereby potentially limiting broader digital competency development.

Probably what has been pointed out in the article highlights a need for a more expansive approach to learning that should go beyond immediate job requirements.

Indeed, embracing IoE is definitely the cornerstone of a smarter, more connected future.
The transformative potential of the Internet of Everything (IoE) over the traditional Internet of Things (IoT), has been well underscored.

By broadening connectivity to include not just devices, but also people, data, and processes, IoE promises a truly holistic integration, facilitating unprecedented levels of collaboration and efficiency.

The call to action is particularly timely for small businesses, encouraging them to explore how they can leverage this digital evolution to their advantage.