The recent financial crisis has been more than just an economic downturn. Major shifts are taking place in almost every industry around the world as new rules for success and failure are written. History tells us that the major winners and losers of a recession actually emerge only in the aftermath of the downturn – as the upturn begins. The most successful companies in the next few years will be those that find ways to be strategically responsive to a decade of turbulence as we live with the after shocks of the “Great Recession”.
TIDES of Change is a framework designed to provide insights into five disruptive forces that are set to change the world of work in the next decade: Technology, Institutional upheaval, changing Demographics, the Environment and shifting Societal values.
But what does this mean for your business?
Which trends should you focus on?
How can you build this into your strategy?
Using a combination of expert interviews and desk research, we can help you reach a greater understanding of how these forces of change are likely to impact your industry and how you can better prepare to embrace them.
What are the newest advances and thinking in technology?
How can your business embrace the benefits and manage the risks?
The power, speed and reach of computers is continuing unabated. Businesses especially need to take heed of four growing trends in communication technology: user generated content (the desire that people have to engage and contribute), social media (the desire to interact and connect), augmented reality (the desire to make sense of the world by tapping into the data and information available) and mobility in a cloud (the desire to do all of these things anywhere on any devices using any platform at any time).
Amazon claims that 30% of its sales are generated by its recommendation engine (“you may also like”).
Desktop 3-D printers are now an equivalent price to desktop dot matrix printers in 1985
How might the basis for success – and failure – of your industry change?
What businesses are responding well (or not so well) to the challenges of the future?
This includes changes to the nature of relationships, the means of producing profit, how companies are structured internally, who their competition is, how capital can be accessed, and the structure of the industry itself.
What happens if your customers start using different channels?
Who and where will your customers be?
How can the latest innovations and trends in customer relationship management help you prepare?
The world’s population dynamics will continue to change radically in the next decade. Trends to watch include an ageing population, rising life expectancy, shifting wealth, plummeting fertility rates, the potential for generational conflict, migration and diversity. Managing different worldviews will be a key management role.
By 2030 the global middle class will have increased by 2 billion and will be 30% of the world’s population
Which environmental issues do you really need to consider?
What ideas are ‘out there’ that could help you meet this challenge?
It’s not just global warming and climate change – and government responses – to these issues. We also need to be aware of the business risks associated with issues such as food and water security, pollution, pandemics and the like. Your views don’t matter – the governments of the world are legislating. Sustainability is not merely a nice to have “feel good” issue – it is very much a strategic business issue.
“Is it about changing climate change or adapting ourselves to deal with climate change?” Sir Jeremy Greenstock
How do your company culture, structure and processes need to change?
What can you learn from the latest developments in human resources and talent management?
People’s expectations have shifted remarkably over the past few decades. What we define as “normal” is no longer certain – in everything from how we define a “normal” career to a “normal” family. The roles people fulfill have also changed – especially for women, teenagers and senior citizens. The shifting social values are the most difficult to grasp, but the most powerful in their effects of all these trends.
The number of businesses hiring on Elance and the number of online professionals working on Elance grew more than 120% in 2011.
We are really flexible in the way we report the results back to you. We’re not too keen on hefty documents, so we like to use plenty of images, audio and video so that you can use and circulate the findings easily and integrate them into your strategy planning process effectively.