[BizTrends 2016] Prepare for disruption and change

© Robert Churchill – 123RF.com

Every business in every industry can expect to be disrupted. So, I guess the only decision to make right now is if your company will be disrupted or if you will be the disruptor. The industries and businesses that stand the biggest risk for disruption are those that have not yet changed much from the industrial to the technological age e.g. banking, healthcare and education. Today's top 10 jobs did not exist 10 years ago* and so it's plausible that the top jobs of the future also do not exist yet.

There are currently three drivers of change that determine the trends of the future...

The 4th generation

The first one is that this is the first time in human history that there are four generations in the workplace; the second and third being technology and business for good. I do many talks on these drivers for change to businesses and especially in South Africa, I see that not many businesses are ready for this tsunami of change that will determine totally different business trends. The five-year business plan can be thrown away. Businesses have to re-evaluate their strategy every six months.

Technology

We will see technology driving the trends for the future and this mainly due to the millennials who are currently the most powerful generation in terms of their spending power and habits. According to the US Census Bureau, there are 2.5-billion people on the planet aged 20 and under whose voices have not been heard yet, and we cannot even begin to comprehend what their needs and demands will be. They do not know a world without technology and therefore technology will be driving the future.

Younger generations will drive the trend in change from ownership to experience. A good example is how younger people don't necessarily own a vehicle but require mobility. We will see massive change in the way they will live and work; how they will acquire products and do their banking and these changes will drive the trends for the future.

The good business can do

Business as a force for good is taking over the business world in great force. This is not about making token donations to get a BEE score but if your business is not ultimately driven by making a difference to where the biggest stakeholders are people and planet, your customer of the future will simply move to a competitor is. People want to feel that they are making a difference to the lives of others as well as to the planet and they will support those companies and brands that help them do this. This has to be true and authentic; people are searching for companies run by authentic leaders who live the values of their company and they will be raving fans of those companies. These companies are globally showing more profits than those companies purely focussed on driving profits.

One more...

A big trend we will also see is the growth in entrepreneurs and specifically, female entrepreneurs. Big (and fast) change generally does not happen in the corporate space but it is entrepreneurs that drive change. In a world where unemployment is high, this is a trend that will change the face of many economies, including ours.

We are living in a world that is "flat" and open and there are no more secrets. Do business authentically and make a difference to your people's lives as well as those that you serve. This is not a matter of choice anymore but crucial for the future success of your organisation. This, together with embracing disrupting technologies, will create businesses that drive trends in the products we will buy and the way we will live our lives.

*10 jobs that didn't exist 10 years ago
5 High-Paying Jobs That Didn't Exist 10 Years Ago