Think like a futurist
The key to ensuring organisational success in an uncertain future
Deloitte research shows that 12% of the Fortune 500 companies from 1955 are still in business, and last year alone, 26% fell off the list. What could these companies have done to prevent being disrupted, and rather become the disruptors themselves? In this first part of the series, Think like a Futurist, we unpack the ten megatrends that we believe will influence our future.
Part 1: Ten Global Megatrends
We live in a world of ever faster technology cycles, hyperconnected individuals, nervously flickering financial markets, and post-factual politics. It is no wonder that the gentle art of perceiving the future has become an increasingly complex yet critical skill when far-ranging decisions need to be taken, particularly for organisations needing to improve their agility and responsiveness to these changes.
Proactively imagining potential futures with some degree of accuracy and the ability to respond quickly to take advantage of the opportunities will enable organisations to protect and defend during turbulent times. Imagining these futures through scenarios creates the ability to identify robust strategic choices that are applicable to a number of plausible futures. The key to doing this, is to start thinking like a futurist.
In this series, we explore the fact that in order for organisations to not only survive in the increasingly competitive business environment, but to thrive, there is an intensifying need for them to be able to imagine the future through divergent scenarios.
Doing so provides the ability for organisations to make robust strategic choices which are more likely to withstand an exponentially more competitive future, and to keep strategies more adaptable to unforeseen scenarios. In this first part, we unpack the ten megatrends that we believe will influence our future.
Part 2: Scenario Thinking and Design
We live in a world of change, whether we consider the pace of technological advancement or political uncertainty it has become more difficult to perceive the future when critical decisions and choices have to be made. The trends and events that signal how an industry is evolving can be overwhelming, seemingly conflicting, and even paralysing, when taken on one-by-one. In part one of our Think like a Futurist series, we looked at the ten megatrends that the Centre for the Long View team at Monitor Deloitte believe could shape and influence the future.
In part 2, we consider the importance of scenario planning in terms of enhancing an organisation’s ability to tackle a diverse set of strategic business problems, many of which have become more challenging as the business climate.
Explore the report to find out how scenarios can provide us with a structured way of thinking and making strategic decisions.