We’ve had the Summer of Sport and it was fantastic! Team GB excelled in the Olympics. Now, business leaders, prepare for the Summer of Business! We are facing a period of hyper-growth and hyper-change. A once in a lifetime opportunity awaits but are you and your teams ready? Here are some facts which should motivate leaders to keep an eagle eye scanning the horizon:
- According to Mckinsey, a leading consultancy, by 2025 more than half of the world’s population will have joined the consuming classes.
- Goldman Sachs calculates that an economy the size of Germany is being added to the global economy every year and this level of growth will continue unabated for the next forty years.
- Lars Tvede a futurist, predicts that the global economy will quadruple in size by 2050.
- Consumption in emerging economies is going to grow by 250% over then next decade or in other words, a staggering $30 trillion.
The defining business growth opportunity of our times awaits and yet few business leaders are ready for the disruptive shifts that this wave of growth will produce. Consider this: The Industrial Revolution changed everything. The way society worked, the way in which families interacted, the way we teach and learn, the way we live and work all changed insurmountably. The Industrial Revolution is widely recognised as one of the most significant events in human history. Today we are experiencing a new revolution- one that historians will one-day name. The consequence of this new revolution, our research shows, will surpass the Industrial Revolution and be the defining supertrend of our age.
Between now and 2050 the world economy will quadruple as a new consuming class from emerging countries, long downgraded and side-lined, takes centre stage.The Industrial Revolution originated in the mid-1700s and took a marathon jog of two centuries to gain full force. Britain, the epicentre of the revolution and the original powerhouse, took a century and a half to double its GDP per capita. The mighty USA then took over the relay baton and upped the pace doubling economic size in a mere 50 years. The next leg of the relay was taken up by China and India and as these nations industrialised, they broke into a sprint doubling their GDP per capita in 12 and 16 years, respectively. The leverage of these nations and other BRICS is massively impressive. The United Kingdom and the United States began industrialization with populations of about ten million. BRICS are benefiting in their economic impetus with populations of around one billion. In economic and mathematical terms this is colossal. The BRIC nations are experiencing ten times the economic propulsion of the Industrial Revolution, on 100 times the scale—resulting in an economic force that is over 1,000 times as big.
This is a revolution that many businesses are not prepared for. New SCRIPTS are required in order to be successful. Just trying to do what you know how to do better, is no longer a recipe for success. Implementing last year’s strategy plus 10% will no longer provide your shareholders with the returns they require.
TomorrowToday has several programmes designed to assist leaders in taking advantage of this Summer of Business:
1. TIDES of Change reveals the five disruptive trends creating all the turbulence and opportunities in the world of work.
2. The New Business SCRIPTS cover seven competencies leaders can focus on to future proof their business.
3. Leading in a Changing World paints a vivid context for leadership in a changing world of work by identifying the three key drivers of change, namely- a changing world, a changing workforce and a changing workplace.
4. Mastering the Future is designed as a modular leadership development programme exploring how to understand, prepare and connect with the future.
James Dunne or any member of our team at TomorrowToday would be happy to tell you more about these and other exciting programmes. Act now this business opportunity will not wait for you.