The Six Business MEGA TRENDS Of Now.
What are the real, earth-shaking issues that face ALL businesses today?
Choosing to ignore the Big Six is a business failure waiting to happen so be warned!
- Globalization . A new economic world order is emerging. Power is shifting to fast-developing markets in Asia (China in particular) and away from “old” economies. This will result in numerous opportunities and threats from highly localised market dynamics as a new middle class materializes in emerging markets.
- Environmental crisis. Critical natural resources are becoming scarcer and climate change more threatening as a result of human activity. In the face of accelerating costs and social and market pressures, leaders will need to fundamentally rethink their operations if they are to continue to compete.
- Individualization and value pluralism. Growing affluence in emerging markets will drive increasingly individualistic attitudes in more parts of the world. People will come to expect their individual needs to be catered to, as both customers and employees. This will create niche opportunities for customised offerings, greatly diversifying the demands of employees, and require far greater sensitivity and agility from organisations.
- The digital era. Living and working with digital technology is becoming the norm. Digital platforms are shifting power from corporations and businesses to consumers and employees — particularly younger “digital natives” — and breaking down old divisions between personal and professional life. This generates unprecedented transparency, which will oblige leaders to act with sincerity and authenticity or see their reputations plummet.
- Demographic change. A burgeoning and rapidly aging world population will transform markets and place enormous pressure on social structures and welfare systems. This will result in a shrinking global workforce, sparking a war for talent among organisations on an unprecedented scale. Leaders will need to cope with the demands of an increasingly intergenerational workforce, in which each age group has vastly diverse attitudes and requirements.
- Technological convergence. Scientific progress in fields such as nanotechnology and biotechnology will transform many areas of our lives, the greatest advances resulting from the combination of these technologies. This wave of innovation will create untold new product markets. It will also place huge demands on companies to stay ahead of the curve and to collaborate closely with competitors on complex R&D programs.
Only the most adept will survive let alone grow and hopefully thrive.