The Forces for Change we have identified will have an impact on the future sustainability of business and the role businesses play in a sustainable world.
Forces for Change may be viewed as an online publication here , members of BITC can also login and download the Forces for Change PDF and the Compendium.
This framework helps you to interpret these interconnected factors and spot the opportunities and risks for your business while delivering a healthy shareholder return and contributing to the long term wellbeing of society and the planet.
The Forces for Change are:
“ The changes we are likely to see to our society and environment over the next two decades and beyond will require a paradigm shift in the economy and society. The companies that recognise and plan for it now will be the winners of the future. We need to think now about how business services will evolve in the next two decades and beyond. The opportunities are real for those who help create a sustainable future. ”
Significant population growth in emerging markets will continue to shift the current world order. Developed economies will be faced with an aging and shrinking population. The accelerating move to urban living will affect all markets, alongside rapidly growing levels of poverty and inequality. Health challenges will be polarised, with both growing levels of obesity and malnutrition.
The scarcity of resources on the planet is being compounded by the impact of their degradation upon the climate. This will affect business in a variety of ways, including rising cost of resources and migration of populations seeking to avoid hostile climates. Technology will help but creating sustainable societies means a fundamental re-evaluation of what humans need – and what they can do without.
If present trends continue one half of all species of life on earth will be extinct in less than 100 years. As society, government and businesses wake up to the immediacy and threat of declining natural capital a widespread reassessment of our values and the predominant economy is inevitable. This reassessment will be enshrined legally by global treaties and national legislation.
Your business is now everyone’s business. The information-hungry consumer has access to more information than ever before. It is becoming impossible for companies to operate behind closed doors so transparency is the new paradigm for conducting business successfully.
Consumers can form instant global communities and redefine your business overnight. This has benefits in cost and time, provides new opportunities and threatens those that try to maintain business as usual.
We are undergoing a widespread reassessment of the values that underpin society, around the world there is declining trust in business and institutions. Corporations that understand this will find ways to work with consumers, employees and other stakeholders to turn this into an opportunity.