Economic turbulence is the new normal. And if the ups and downs have you wondering what the future holds, it’s a good news / bad news / good news story. But, that’s how it has been for the last 3 decades and will continue to be for the next 3 decades.
So, what is new about 2030?
The whole face of the life we live now will change. The world is going into a total transformation. Going from governments to industrial to governments to technology, everything will change including the air we breathe in.
You might not be considering the future, but remember that while 73 percent of online adults currently have a social media account, social media barely existed 15 years ago. And, the information age has proven to evolve and grow quicker by the decade.
Studies reveal global mega-trends such as:
- Globalization 2.0 – a new world order is emerging as economic power shifts to Asia.
- Environmental crisis – leaders must embed sustainable cultures as critical natural resources run out.
- Individualism – smart employers will design ways of working to suit individuals in order to retain talent.
- Digitization– in a climate of transparency, leaders must display high standards of integrity and sincerity.
- Demographic change– an aging population means a shrinking global workforce, chronic skills shortages and a fierce war for talent.
- Technological convergence– the convergence of nano, bio, information and cognitive sciences will generate untold new product markets, and make others obsolete.
A mega-trend isn’t a short-term trend: it’s a long-term, transformational process with global reach, broad scope, and a dramatic impact.
Who should be concerned?
It is important for every organization, public and private, to know whether their organization will be amongst the winners, or the losers, by 2030. Let me put it in a firmer statement: will your organization survive or vanish by 2030? You definitely want your organization to live up to 2030, 13 years from now, and beyond. But, have you taken all necessary measures to achieve that and ensure a leading competitive position for your organization by 2030 and beyond?
Why should you be worried?
In business, to stop moving forward means your company is stagnating; for many companies, stagnation equates to eventual death. Companies clinging to outmoded and outdated business practices eventually run into major problems.
In the public sector, organizations around the world face stark challenges: adjust to the reality of ‘doing less for less’, with 70% of sector’s jobs to be automated, urbanization and pressure to meet the energy, water and vehicle reduction emissions, increased public-private partnership to privatization, and adhere to the Sustainable Development Goals (SDG) 2030. Public sector organizations will no more exist by the rule of politics but by the rule of meeting people’s needs and ultimately adding greater value to their daily life.
Technology is forever changing and with this change comes disruption to industries, companies and the employment marketplace. So, as this future is getting nearer and nearer, it’s important to ask yourself, is your organization ready for it? Or at least, prepared for adapting?
How do you prepare?
You don’t need a crystal ball to keep abreast of changes. It’s important to always keep up with emerging trends, both in the economy in general and within your industry in particular.
Laurel & Tercel Management Consultancy has developed an assessment process to help evaluate your organization’s resilience and ability to adapt to the 2030 local and international business environment. We will better help you plan and envision your business, identify the gaps and design the developmental, transformational, innovative plans to bridge those gaps Strategic Management Planning. The final outcome shall be a set of unique organizational competencies Organizational Core Competencies Of The 21st Century empower your organization to compete in the new world, 2030 and beyond.
You need to be willing to embrace these new paradigms, or you risk your organization becoming obsolete.
Iman Ousseyran, CEO & Principal Consultant, Laurel & Tercel, email@example.com / M +971 50 5536895