The Future Business Environment
We cannot know the future, how can we make a logical decision process? Life is a never-ending sequence of decisions. It might be relatively simple or very complex for us. What is the way to get over for uncertainty? We should strive to reduce uncertainty in any decision by collecting as much information as possible.
The countries called emerging economies by 2035 will have become global economic power with China and possibly India vying for the US’s top spot as the world’s largest economy. Global population will reach to 9 billion by 2025, and a growing international middle class produced from a massive rise in urbanisation, feeding this population will be a major issue. In early 1800 only about 4% of the world’s population had lived in cities. It was 47% by 2000, this had been increased %3 between 2000 and 2010 and reached 50% in 2010. 70% of the world’s population will be living in cities till 2050.
The number of people communicating online has been growing at a phenomenally fast pace, 5 billion people predictably will be online by 2020. Business world-changing, setting up a new business and hiring employee could be done in minutes. The companies could be controlled every aspect through new digital interfaces by managers.
Business is very inefficient today, particularly around decision-making and project management. The reason is that, we lack the numbers and the depth of information to make them relevant to our business decisions.
Complexity is rising in changing The World. When we ask about future to CEOs of the world’s largest companies. Four in five CEOs responded and said that, rapid escalation of complexity was the biggest challenge facing leaders in the future
The cycle time for change is compressing day by day. The rate of these industry transformations is getting much faster than before. Consumers lead transformations, Companies will have to follow it. Today’s consumers have been much faster to embrace online marketplaces, using aggregators and jumping on new apps and services to take advantage of good deals. Consumers consistently have embraced these opportunities before companies, so whatever consumer marketplace services exist today, have in prospect from companies adopting them tomorrow.
So that, over the next 20 years, there will be may more companies around the world which will have a vision of bringing values to business and finding new ways of doing things better.
We are going to live in a future where technology will dominate. Personal technology, big data, internet of things and artificial intelligence will be able to provide us more about ourselves than ever before.
Therewithal, the world will face massive challenges, such as climate change, which will have enormous an influence that is so powerful that it is hard to imagine living the same way we do today with unfettered access to resources
Data is becoming a new asset class with real value, just like traded goods. Behind this notion, Data would enable better responses to global challenges, future predictions, production efficiencies and a tailored service.
Expectations of business are rising 87% of people globally now say that they think companies should place equal weight” on public interests and their business targets. 65% of people think that businesses must bear as much responsibility as governments for driving positive social change, and over half say that companies have to be better positioned than governments to fight against to climate change.
Energy in near future might be less important due to knowing usage efficient with many of sustainable alternatives to be ensuring abundant energy supply. The larger resource challenges will concentrate to food and water, of which the world has plenty today, so using technology will be more critical point that IoT will manage efficiency.
The cooperation between technological devices and humankind will usher in the next decade of work and provide a competitive advantage for companies. The reason development of artificial intelligent depends on working in cooperation with humans and technological devices to develop differentiated extraordinary customer experiences and to create entirely new products, services and markets. Is that the real opportunity of artificial intelligence? Some experts say yes. Estimated that this might boost business revenues by 40 per cent in the next ten years and generate higher levels of profitability. In order to succeed it, all managers must reimagine the nature of business today. That means is to make reengineering in process and to use intelligent technologies in new business models that never done before.
Many consumers live through mobile and are willing to try new technologies and apps that are able to introduce a better way of life. These consumers continuously keen on to stay online and to be updated frequently. That offers excellent business opportunity for the companies.
Now, as companies invest in Artificial intelligent systems that can sense, interpret, communicate and, learn, all that changes. Artificial intelligent are able to help businesses move beyond automation to elevate humankind that unlocks new value.
The ability to manage and monitoring both devices and the living, by IoT in the world makes it possible to bring data-driven decision making to new realms of human activity to optimize the performance of systems and processes, will save time for us and businesses and improve quality of life.
A change of culture will be needed in all institutions to make sure rules adhere to the principle of subsidiarity. So that, predictive leadership will be most critical role on the existing marketplace in the future.