This article first appeared in Forum, The Edge Malaysia Weekly on October 9, 2017 - October 15, 2017
A CEO once said every country needs a minister of the future. This may seem silly, but given the volatility today, it may be the right form of wishful thinking.
We are, after all, living in an era when industry stalwarts who expect to remain leaders in their fields are being upended by upstarts, companies are exercising more authority and becoming more powerful than nations and trade blocs are giving way to the inevitable force of a globally efficient supply chain.
But even wishful thinking must have some basis of justification and that is where “megatrends” come in.
What exactly are megatrends? They are a constellation of ideas about how the future may look, given the current market scenarios, global influences, political climate and consumer behaviour.
The five major megatrends that may impact our future are:
I believe that fortune will favour the bold and nimble, and as they say, the best way to predict the future is to create it. This means that we will always have the power to steer our present and the wherewithal to shape our future. Recognising and understanding the megatrends could be the first step.
Zarif Munir is partner and managing director of BCG Kuala Lumpur
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