Global Megatrends – How will they impact your business?

In 2012, the CSIRO Futures team released the second version of their flagship publication called “Our Future World – the global trends that will change the way we live.“

The report identifies six key megatrends over the next twenty years where megatrends are described as a collection of trends, patterns of economic, social or environmental activity that will change the way people live and the science and technology products they demand.

The six interrelated megatrends identified in the report are:

• More from less. The earth has limited supplies of natural mineral, energy, water and food resources essential for human survival and maintaining lifestyles.
• Going, going … gone? Many of the world’s natural habitats, plant species and animal species are in decline or at risk of extinction.
• The silk highway. Coming decades will see the world economy shift from west to east and north to south.
• Forever young. The ageing population is an asset. Australia and many other countries that make up the Organisation for Economic Cooperation and Development (OECD) have an ageing population.
• Virtually here. This megatrend explores what might happen in a world of increased connectivity where individuals, communities, governments and businesses are immersed into the virtual world to a much greater extent than ever before.
• Great expectations. This is a consumer, societal, demographic and cultural megatrend. It explores the rising demand for experiences over products and the rising importance of social relationships.

As you can see, many of these trends are already well established and CSIRO predict that they will become even more significant to our lives and businesses over the next two decades.

The strategic questions for organisations today are:

What impact may these trends have on your business?

Is your business prepared to take advantage of the opportunities and mitigate the risks of these megatrends?

Are the decision makers in your organisation well informed on these megatrends and the potential impact on your sustainability?

The CSIRO report is a well written reminder of how our world is changing and the successful businesses of the future will capitalise on these changes.

Given that these trends have already commenced, there is limited time to determine whether the near future offers new opportunities or significant threats to your current business.

The full report can be found at Our Future World.