Ten Trends to Watch 2006
We would like to bring to your notice an interesting article McKinsey & Company have recently published for managers which is available on their web site (http://www.mckinseyquarterly.com).
The authors are Ian Davis, who is the worldwide managing director of McKinsey & Company, and Elizabeth Stephenson, a consultant in McKinsey's San Francisco office.
The article identifies trends that will make the world of 2015 a very different place to do business from the world of today?
Macroeconomic Trends
Centres of economic activity will shift profoundly, not just globally, but also regionally as a consequence of economic liberalisation, technological advances, capital market developments, and demographic shifts
Public-sector activities will balloon, making productivity gains essential due to the unprecedented aging of populations across the developed world and many emerging-market governments having to decide what level of social services to provide to citizens
The consumer landscape will change and expand significantly with almost a billion new consumers will enter the global marketplace in the next decade
Social and Environmental Trends
Technological connectivity will transform the way people live and interact. We will be working not just globally but also instantaneously and will form communities and relationships in new ways.
The battlefield for talent will shift as the increasing integration of global labour markets, opens up vast new talent sources.
The role and behaviour of big business will come under increasingly sharp scrutiny as the increasing pace and extent of global business, and the emergence of truly giant global corporations, exacerbates pressures on managers over the next 10 years.
Demand for natural resources will grow, as will the strain on the environment. Innovation in technology, regulation, and the use of resources will be central to creating a world that can both drive robust economic growth and sustain environmental demands.
Business and Industry Trends
New global industry structures will emerge and non-traditional business models will flourish.
Management will go from art to science as bigger, more complex companies demand new tools to run and manage them.
Ready access to information will change the economics of knowledge with the emergence of new models of knowledge production, access, distribution, and ownership.
Companies will need to understand the implications of these trends alongside customer needs and competitive developments. Executives who align their company's strategy with these factors will be the best placed to succeed. Reflecting on these trends will be time well spent.
Kevin Gaunt
Chief Executive
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Executive Development
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