Business Growth In The Next 10 Years

The Business landscape is changing fast which for sometime now I have been predicting and talking about with individuals and businesses directly, and on this site, many of whom are just not ready but are aware that things are changing and the pain it brings.

The CBI have produced a report which confirms that change is indeed taking placing and that a new business model is evolving.

In fact the report starts by saying;

“The business environment of the next decade will be significantly different to what might have been expected just two years ago. The financial crisis and the recession that has followed have altered operating conditions by imposing new challenges and exacerbating existing ones. Businesses will respond across the organisation, moving to a more flexible, collaborative and leaner model.”

Not sure that last line is correct and think it should have read.

“Businesses will respond across the globe (nation), moving to a more flexible, collaborative and leaner model.”

The main points include;

1. Finance will be harder to obtain and more expensive.
2. The business landscape will become more volatile and riskier.
3. Trust in business and markets will remain at an all time low due to questionable profit motives.
4. Demographic change will have a big impact on employers especially where retirement is concerned.
5. Climate change will affect energy use and consumption and further affect social trust due to sustainability issues.
6. Technological developments will continue to change the way business is done.
7. There will be more collaboration and flexibility both inside and outside of organisations to meet market needs.
8. Debt financing will be much less popular and new forms of liquidity such as supply chain finance will be deployed.
9. Volatility in fuel, especially oil prices over the next 10 years will be disruptive for business.
10. The pace of technological change and how fast new technologies are taken up will continue to accelerate.

One of the main conclusions of the report;

“Taken together, the impact on the economy in the short term (the next 3-5 years) will be to create slower, but more sustainable growth.”

This is going to require dramatic changes in structure, management and directorship especially in terms of sales and marketing.  Smaller and more accountable operations with realistic deliverables. The use of technology and measurable systems and approaches driven by teams that really understand their market and how to reach it, all of which will be increasingly important as is having the back up of operations to ensure that the business actually delivers on its promises.

In fact in this Independent article they describe these new people as the “Clever” talent in modern business.

Your can read the full CBI report here.

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