Global Forces Shaping the Future of Business and Society

The first and the most important key strategic force that will impact business and society is the rise of emerging markets. The emerging markets such as China and India will become the game changer because these markets are growing rapidly, moreover, they are not only the base of productions or consumptions but they are now the source of innovations that will bring new products to the developed market like Europe and US. The company that can seize these markets will be the only one that stays at the top of its industry. Second force is to improve developed market productivity. Developed countries such as United State, European counties, and Japan must used technology and their high-quality workforce to raise its productivity in order to compete with the new comers. Third force is ever-expanding global networks. Globalization and digital technology has blurred many boundaries around the world. Today the world is connected and businesses should use this global network to benefit them as much as they can. Fourth force is the tension between rapidly rising resource consumption and sustainability. Demand in natural resource will keep rising and the price will also keep increasing then more regulations will be apply to conserve them so the company should consider plans for dealing with those regulations in the future. Those regulations may bring many limitations but they might bring some opportunities as well. The last force is the increasingly larger role of the state as a business regulator and partner. The business leaders should work along with the government in order to develop the right solutions to the new problem they are facing with. Moreover, the business executives of multi-nation companies have to adapt their organizations to suit in multiple regulatory environments.

The organizations should be prepared to face with these forces by: (1) Study how these forces will effect the organizations; (2) Equip the employees with new technology and proper training; (3) Develop plan for new emerging markets especially China and India; (4) Maintain good relationship with government; and (5) Looking for opportunities that come with new regulations.

In my opinion both established firms and entrepreneurs must equipped to deal with these changes because these changes will develop the new way of doing business in the future. Any company that cannot catch up with these trends will not survive the competition. The business leader either in the established firms or entrepreneurs should be able to recognize, prepare, and mange these change to bring their firm to success in the next decade.