Societal Driving Trends
The traditional roles of public and private sector have become increasing blurred. Who is responsible for providing basic social services in today's society? Who should regulate commerce? Who is responsible for protecting human rights and the environment?
We live in an increasingly connected and interdependent world such that issues that were once marginal can now have a global impact. The risks and opportunities for many stakeholders have been amplified by this increasing trend. Issues that arise in supply chains which are global now affect local communities. NGOs can target a global audience on single-issues in ways that were unimaginable only a few years ago. Companies have learned that local issues can become global ones in a matter of hours.
Changing distribution of people and assets is affecting traditional social models. Rapid population growth in China and India is shifting global consumption patterns. Dwindling hydrocarbon reserves are now concentrated in only a few countries and are creating economic wealth in new geographies. Climate change is an increasingly affecting access to, and use, of different natural resources.
High profile global disasters coupled with greater connectivity makes people increasingly concerned about safety and security. This increased concern leads to a much higher sensitivity to risk and risk avoidance, even if this behaviour is logically irrational. The understanding and management of risk will start to drive decision-making in ways that are quite different from the recent past.
Many societies are concerned about increasing inequality both within and across national boundaries. As the gaps between the richest and poorest people seems to rise inexorably, there is an increasing challenge to the sustainability of this and to the efficiency of markets, leading to a search for different values that may produce different outcomes.
Technological advancement continues to impact daily lives. This creates both risks and opportunities for societies and business and a tension that inevitably results between the two. Managing the interface between business and society using technology will be an increasing challenge in the future involving the familiar themes of regulation, compliance, safety and security.
