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 The	
  Future	
  of	
  the	
  Company	
  	
  
	
  Insights	
  from	
  Discussions	
  Building	
  on	
  an	
  Ini4al	
  Pe...
Context	
  
The	
  ini4al	
  perspec4ve	
  on	
  the	
  Future	
  of	
  Work	
  kicked	
  off	
  the	
  	
  
Future	
  Agen...
Disconnected	
  Business	
  
Big	
  business	
  has	
  become	
  disconnected	
  from	
  the	
  broader	
  society	
  with...
Being	
  Part	
  of	
  Society	
  
Is	
  the	
  purpose	
  of	
  the	
  corpora4on	
  just	
  about	
  pursuing	
  profits,...
Being	
  Part	
  of	
  the	
  Solu<on	
  
Some	
  see	
  the	
  failure	
  to	
  make	
  capitalism	
  inclusive	
  and	
 ...
The	
  Decline	
  of	
  Shareholder	
  Value	
  
Will	
  large	
  companies	
  with	
  dispersed	
  shareholders	
  be	
  ...
Measuring	
  and	
  Repor<ng	
  on	
  Impacts	
  
Wider	
  stakeholder	
  representa4on	
  in	
  decision-­‐making,	
  the...
Responsible	
  Business	
  
Regulatory	
  changes	
  should	
  support	
  a	
  vision	
  of	
  business	
  	
  
that	
  pr...
Crea<ng	
  Las<ng	
  Change	
  
The	
  use	
  of	
  regulatory	
  s4cks	
  and	
  carrots	
  has	
  the	
  poten4al	
  to	...
Making	
  Compromises	
  
Reconciling	
  the	
  need	
  for	
  companies	
  to	
  act	
  sustainably	
  and	
  in	
  accor...
Business	
  Solu<ons	
  to	
  Societal	
  Problems	
  
Re-­‐visioning	
  the	
  role	
  of	
  business	
  in	
  society	
 ...
Rediscovering	
  Purpose	
  
Before	
  the	
  myth	
  of	
  shareholder	
  value,	
  companies	
  had	
  a	
  responsibili...
The	
  Human	
  Touch	
  
In	
  a	
  world	
  of	
  global	
  and	
  digital	
  marke4ng	
  and	
  consump4on,	
  	
  
con...
Data	
  Risk	
  Management	
  
As	
  privacy	
  and	
  data	
  are	
  subsumed	
  within	
  wider	
  risk	
  frameworks,	
...
Hollowing	
  Out	
  the	
  Professions	
  
Technology	
  is	
  challenging	
  the	
  white-­‐collar	
  worker	
  and	
  au...
Skill	
  Concentra<ons	
  
The	
  growth	
  of	
  the	
  nomadic	
  global	
  elite	
  ci4zenship	
  accelerates	
  the	
 ...
Age	
  Diversified	
  Workforces	
  
	
  The	
  demographic	
  changes	
  underway	
  are	
  fundamentally	
  altering	
  	...
Con<nuous	
  Learning	
  to	
  Enable	
  Employment	
  	
  
As	
  the	
  pace	
  of	
  change	
  accelerates,	
  the	
  kn...
Two-­‐Way	
  Trust	
  
An	
  increase	
  in	
  trust	
  between	
  employees	
  and	
  employers	
  builds	
  	
  
greater...
Making	
  Work	
  Work	
  (for	
  People	
  and	
  Work)	
  	
  
We	
  will	
  see	
  a	
  shi`	
  in	
  priority	
  from	...
Resources	
  Shaping	
  the	
  Future	
  Landscape	
  
Resource	
  cri4cality,	
  resource	
  security,	
  emerging	
  leg...
Future	
  Focused	
  
Organisa4ons	
  increasingly	
  reflect	
  a	
  desire	
  to	
  care	
  for	
  the	
  next	
  genera4...
Millennial	
  Managers	
  
As	
  more	
  digital-­‐na4ve	
  Millennials	
  take	
  the	
  lead	
  they	
  bring	
  differen...
21st	
  Century	
  Organisa<ons	
  
The	
  emerging	
  organisa4on	
  feels	
  very	
  different	
  from	
  c20th	
  compan...
Business	
  Response	
  to	
  Resource	
  Risks	
  
To	
  prevent	
  the	
  exploita4on	
  of	
  global	
  regulatory	
  a...
Incumbent	
  Blockers	
  
Several	
  large,	
  well-­‐established	
  organisa4ons	
  con4nue	
  to	
  seek	
  to	
  preven...
Joining	
  the	
  Dots	
  
Increasing	
  collabora4on	
  drives	
  companies	
  to	
  re-­‐organise	
  based	
  on	
  soci...
SeRng	
  the	
  Moral	
  Compass	
  
Integrity	
  is	
  separate	
  from	
  the	
  process	
  of	
  corporate	
  governanc...
The	
  Genera<on	
  Divide	
  
The	
  perspec4ve	
  gap	
  grows	
  between	
  the	
  expecta4ons	
  of	
  the	
  young,	
...
Many	
  Voices	
  	
  
A	
  key	
  challenge	
  for	
  the	
  ASEAN	
  region	
  is	
  leveraging	
  regional	
  diversity...
Asian	
  Government	
  Connec<ons	
  
Asian	
  companies	
  con4nue	
  to	
  be	
  more	
  closely	
  linked	
  to	
  	
  ...
Regional	
  vs.	
  Global	
  Standards	
  	
  
Performance	
  measures	
  become	
  increasingly	
  more	
  regional	
  an...
Disrup<ve,	
  Decentralised	
  Consensus	
  Ledgers	
  
Plaeorms,	
  such	
  as	
  block	
  chain,	
  developed	
  for	
  ...
Disaster	
  Recovery	
  Services	
  
As	
  businesses	
  increasingly	
  suffer	
  from	
  the	
  impact	
  of	
  natural	
...
New	
  Finance	
  Business	
  Models	
  
FinTech	
  creates	
  new	
  opportuni4es	
  for	
  the	
  delivery	
  of	
  beXe...
Future	
  Agenda	
  
84	
  Brook	
  Street	
  
London	
  
W1K	
  5EH	
  
+44	
  203	
  0088	
  141	
  
futureagenda.org	
 ...
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Future of the Company Insights from dicussions building on an initial perspective - Paige Morrow - Frank Bold

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The initial perspective on the Future of the Company kicked off the Future Agenda 2.0 global discussions taking place through 2015. This summary builds on the initial view and is updated as we progress the futureagenda2.0 programme. www.futureagenda.org

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Future of the Company Insights from dicussions building on an initial perspective - Paige Morrow - Frank Bold

  1. 1.  The  Future  of  the  Company      Insights  from  Discussions  Building  on  an  Ini4al  Perspec4ve  by:    Paige  Morrow  |Head  of  Brussels  Opera4ons  |  Frank  Bold  
  2. 2. Context   The  ini4al  perspec4ve  on  the  Future  of  Work  kicked  off  the     Future  Agenda  2.0  global  discussions  taking  place  through  2015.     This  summary  builds  on  the  ini4al  view  and  is  updated  as  we  progress.     Ini4al   Perspec4ves   Q4  2014   Global   Discussions   Q1/2  2015   Insight   Synthesis   Q3  2015   Sharing     Output   Q4  2015  
  3. 3. Disconnected  Business   Big  business  has  become  disconnected  from  the  broader  society  within  which   it  operates.  A  narrow  focus  on  short-­‐term  returns  has  led  some  to  act  in  ways   that  benefit  themselves  whilst  harming  society  and  the  environment.    
  4. 4. Being  Part  of  Society   Is  the  purpose  of  the  corpora4on  just  about  pursuing  profits,     or  does  it  have  a  broader  responsibility  to  produce  socially  beneficial     outcomes  and  be  a  part  of  society  rather  than  apart  from  it?    
  5. 5. Being  Part  of  the  Solu<on   Some  see  the  failure  to  make  capitalism  inclusive  and  to  address     sustainability  challenges  as  an  opportunity  to  build  deep  rela4onships  with   customers  and  stakeholders  by  working  on  solu4ons  to  societal  challenges.  
  6. 6. The  Decline  of  Shareholder  Value   Will  large  companies  with  dispersed  shareholders  be  the  dominant  model   across  all  markets  or  will  they  be  replaced  by  a  mix  of  alterna4ve  models  beXer   suited  to  mee4ng  the  long  term  needs  of  a  wide  range  of  stakeholders?    
  7. 7. Measuring  and  Repor<ng  on  Impacts   Wider  stakeholder  representa4on  in  decision-­‐making,  the  requirement  to   report  against  a  wider  set  of  measures  and  risks  and  the  development  of   benchmarks  and  labelling  to  all  industries  are  all  being  discussed.  
  8. 8. Responsible  Business   Regulatory  changes  should  support  a  vision  of  business     that  provides  a  level  playing  field  based  on  the  ‘do  no  harm’     principle  and  internaliza4on  of  externali4es.  
  9. 9. Crea<ng  Las<ng  Change   The  use  of  regulatory  s4cks  and  carrots  has  the  poten4al  to  achieve  high   impact  but  may  be  resisted  by  incumbents.  A  subtle  approach  of  experiments   to  “nudge”  the  system  in  the  desired  direc4on  may  have  greater  impact.  
  10. 10. Making  Compromises   Reconciling  the  need  for  companies  to  act  sustainably  and  in  accordance  with   principles  of  interna4onal  human  rights  with  the  local  prac4ces  will  require   compromise  to  develop  workable  context  and  industry-­‐specific  guidelines.  
  11. 11. Business  Solu<ons  to  Societal  Problems   Re-­‐visioning  the  role  of  business  in  society  may  lead  to  a  reduc4on  in   inequality,  less  par4san  poli4cs  and  greater  ac4on  as  businesses  take  the  lead   rather  than  wai4ng  for  Government  to  lead  them.  
  12. 12. Rediscovering  Purpose   Before  the  myth  of  shareholder  value,  companies  had  a  responsibility  to  a   wider  set  of  stakeholders.  We  need  to  revisit  the  purpose  of  the  organisa4on   and  understand  why  in  some  parts  of  the  world  we  have  lost  our  way.  
  13. 13. The  Human  Touch   In  a  world  of  global  and  digital  marke4ng  and  consump4on,     consumers  will  increasingly  favour  those  brands  that  can  offer  more     emo4onal  engagements,  and  specifically  human-­‐to-­‐human  contact.  
  14. 14. Data  Risk  Management   As  privacy  and  data  are  subsumed  within  wider  risk  frameworks,     greater  self-­‐regula4on  and  more  in-­‐house  data  risk  management  will    lead  to  deeper  integra4on  of  engineering,  privacy  and  policy.  
  15. 15. Hollowing  Out  the  Professions   Technology  is  challenging  the  white-­‐collar  worker  and  automa4ng  both     middle  and  high-­‐end  jobs.  The  future  will  see  fewer  accountants,  lawyers    and  doctors  and  a  hollowing  out  of  the  previously  ‘safe’  professions.  
  16. 16. Skill  Concentra<ons   The  growth  of  the  nomadic  global  elite  ci4zenship  accelerates  the   concentra4on  of  the  high-­‐skill  /  high-­‐reward  opportuni4es  within  a  select     group  of  globally-­‐connected  ci4zens,  who  move  ahead  of  the  urban  pack.  
  17. 17. Age  Diversified  Workforces    The  demographic  changes  underway  are  fundamentally  altering     virtually  all  aspects  of  life  as  we  know  it.  Workforces  are  becoming     older  and  more  age  diversified  than  ever  in  history.    
  18. 18. Con<nuous  Learning  to  Enable  Employment     As  the  pace  of  change  accelerates,  the  knowledge  economy  grows  and  the   value  of  accredita4on  declines.  This  leads  to  a  shi`  from  "educa4on  then  work"   to  a  world  of  "con4nuous  learning”  needed  to  keep  us  all  employable.  
  19. 19. Two-­‐Way  Trust   An  increase  in  trust  between  employees  and  employers  builds     greater  alignment  and  enables  democra4sa4on  of  the  workplace,    more  flexible  ways  of  working  and  more  effec4ve  organisa4ons.  
  20. 20. Making  Work  Work  (for  People  and  Work)     We  will  see  a  shi`  in  priority  from  ‘money  maXers’  to  ‘meaning  maXers’.     This  will  lead  to  the  emergence  of  community  and  wellbeing     managers  in  organisa4ons  and  new  ways  to  measure  success.  
  21. 21. Resources  Shaping  the  Future  Landscape   Resource  cri4cality,  resource  security,  emerging  legisla4on  around     closed-­‐loop  supply  chains  and  new  labeling  standards  for  waste  will  all   combine  to  shape  and  define  the  future  business  landscape.  
  22. 22. Future  Focused   Organisa4ons  increasingly  reflect  a  desire  to  care  for  the  next  genera4on,   ac4vely  ques4oning  the  value  of  capital,  implying  a  return  to  no4ons  of   tradi4on  and  of  passing  on  a  legacy  that  is  about  more  than  money.  
  23. 23. Millennial  Managers   As  more  digital-­‐na4ve  Millennials  take  the  lead  they  bring  different   perspec4ves,  experiences  and  expecta4ons  about  societal  challenges  and  the   role  of  organisa4ons.  This  drives  a  shi`  towards  a  deeper  sense  of  purpose.  
  24. 24. 21st  Century  Organisa<ons   The  emerging  organisa4on  feels  very  different  from  c20th  companies  -­‐   collabora4ve,  crowd-­‐funded,  flaXer,  human-­‐focused,  hyper-­‐specialised,   informal,  localised,  out-­‐sourced,  project-­‐based,  purpose-­‐led  and  virtual.    
  25. 25. Business  Response  to  Resource  Risks   To  prevent  the  exploita4on  of  global  regulatory  arbitrage,  we  work     out  how  to  more  effec4vely  govern  the  global  footprint  to  create  a  level   playing  field:  Business  and  government  develop  new  models  to  manage  risk.  
  26. 26. Incumbent  Blockers   Several  large,  well-­‐established  organisa4ons  con4nue  to  seek  to  prevent   change  by  arguing  for  short-­‐term  incremental  shi`s  rather  than  wider,  more   collabora4ve  system-­‐based  change  that  may  benefit  society  in  the  long-­‐term.  
  27. 27. Joining  the  Dots   Increasing  collabora4on  drives  companies  to  re-­‐organise  based  on  social   networks.  The  shared  economy  changes  the  shape  of  many  organisa4ons,  but   a  shi`  in  the  role  of  the  company  from  employer  to  facilitator  challenges  many.  
  28. 28. SeRng  the  Moral  Compass   Integrity  is  separate  from  the  process  of  corporate  governance  and  the     rule  of  law.  Although  not  yet  fully  ingrained  in  corporate  life,  some     see  a  higher  sense  of  ethics  in  Asia  in  comparison  with  the  West.  
  29. 29. The  Genera<on  Divide   The  perspec4ve  gap  grows  between  the  expecta4ons  of  the  young,     who  are  increasingly  global  in  their  outlook,  and  the  more     tradi4onal  views  of  more  senior  and  experienced  colleagues.    
  30. 30. Many  Voices     A  key  challenge  for  the  ASEAN  region  is  leveraging  regional  diversity     and  culture  beyond  ethnic  diversity:  Age,  gender,  na4onality  and  religion     are  all  increasingly  seen  to  have  a  place  at  the  boardroom  table.  
  31. 31. Asian  Government  Connec<ons   Asian  companies  con4nue  to  be  more  closely  linked  to     government  than  many  of  their  counterparts  in  the  west.     This  shapes  how  they  operate  and  how  they  evolve.  
  32. 32. Regional  vs.  Global  Standards     Performance  measures  become  increasingly  more  regional  and  country     specific  and  local  values  are  priori4sed.  But,  as  many  Asian  organisa4ons   become  regional  global  players  they  also  play  down  na4onal  creden4als.  
  33. 33. Disrup<ve,  Decentralised  Consensus  Ledgers   Plaeorms,  such  as  block  chain,  developed  for  crypto-­‐currencies  reduce  cost   and  complexity  to  connect  mul4ple  par4es  to  a  single  agreed  digital  record   shared  by  all.  This  transforms  the  way  we  hold,  access  and  value  informa4on.  
  34. 34. Disaster  Recovery  Services   As  businesses  increasingly  suffer  from  the  impact  of  natural  and  man-­‐made   events  -­‐  such  as  climate  change,  cyber  crime,  terrorism  and  system  failures  -­‐   there  is  a  growing  demand  for  disaster  recovery  advice  and  services.  
  35. 35. New  Finance  Business  Models   FinTech  creates  new  opportuni4es  for  the  delivery  of  beXer  business,   consumer  service  and  financial  inclusion.  But  it  also  has  the  poten4al  to   open  up  businesses  and  consumers  to  greater  fraud  and  exploita4on.  
  36. 36. Future  Agenda   84  Brook  Street   London   W1K  5EH   +44  203  0088  141   futureagenda.org   The  world’s  leading  open  foresight  program   What  do  you  think?   Join  In  |  Add  your  views  into  the  mix     www.futureagenda.org  

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