What are future trends and why are they important?
We know the future will be different than today. Look back over your organisation’s history for the past twenty years. Consider how its products, operations and customers have changed over this time. Now think forward twenty years. Think about the environment that your organisation will be working in. How will technology have changed? What might your customers expect? How could supply chain and prices have changed as well? What about your competitors? How might future regulation and UN Sustainable Development Goals (SDGs) impact?
Future trends are the changes we predict happening over the near to long term, or may already be happening now, that present opportunities and challenges that will change the way a business operates. They may be slow, gradual changes, or fast, disruptive change. Small year on year sea level rise, or the flying car.
The role of senior management is to plan and manage both for the near and medium to long term. And organisations that keep looking beyond the near term numbers perform better, get ahead of competitors and keep nimble.
Of course, some of the forecasts will prove wrong and other trends will emerge that we don’t know about today. But thinking ahead with clear thought and practical actions is key. We all know the future is going to be different, but it’s taking practical and appropriate action that is most important.
Get your new guidance document designed to map, manage and mitigate the impacts of megatrends. Get to grips with which future trends are relevant to your organisation, and identify how you can integrate solutions practically into your business.