The New Year will take us into a new decade and a new world of business. In this new world, businesses will be hugely impacted by shifts in politics, public perception, and the natural environment.BSR
has attributed this to four major changes:
- There is growing skepticism regarding markets' ability to deliver benefits to society.
- Our natural resource commodities are under thread, with impacts on social and economic wellbeing.
- We are facing a "techlash" as concerns increase about the impacts of new technologies and business models.
- The widening income gap and declining living standards are leading to political and economic backlash. Related to this, we see budding interest on the part of society for alternatives to the consumption-diven model.
The new decade will hardly be "business as usual". The changing socioeconomic landscape will see an unprecedented level of new disruptions. Businesses will have to look beyond short-term profits and align with society's changing expectations, carving out a path to profitability within the boundaries of the Earth's resources.
How can this be achieved? There are three guiding principles for businesses: