23 Insights from The Future-Ready Organization:
Visionary Leaders, Shaping What’s Next
November 08, 2019 | Article
“The future depends on what you do today.”
Mahatma Gandhi
Everybody understands that the future requires pivotal change, and pivotal change requires innovation, and innovation takes time, patience, and capital.
The future looks like a laundry list of risks for business—and the planet. From the economy to trade, from the digital revolution to the climate crisis, pivotal changes are confronting business. And pivotal change requires innovation, which requires time, patience, and capital. How will companies survive and thrive? They must take a long-term view while accommodating new structures and systems in the short term. They must focus on both their customers and their employees while balancing digital risk and innovation. And they must take heart, because all these challenges take place against a backdrop of opportunity: millennial pressure on companies to exercise social responsibility and government inaction put business in a unique position to step up and find solutions to the problems that confront us all.
When 150 practitioners and experts met to talk about future readiness, we took notes. Here are highlights:
Most experts expect an economic downturn in the next few years. And the next slowdown will be complicated by volatility in technology, trade, and politics. Companies will get through by focusing on long-term values and new trade patterns.
- Trade is shifting from long-haul to domestic and cross border, with growing silos between countries and a lower leadership profile for the US. Running a global business in a newly polarized world means going bilateral: find a trading partner and form a deep relationship. And decide if you are, say, one business operating in 150 countries, or 150 different businesses. What parts of your playbook are the same for every country? What are different? Answering that question will take you a long way toward a coherent global strategy.
- Although consumer spending continues to drive the US economy, trade difficulties with China may change that soon. And in any event, most companies are living on the
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