In the “winner takes all” mindset of the digital age, inequalities are on the rise. These are leveraged by populist politicians but cannot be denied. While technology has been a major growth driver, and increased prosperity, it has also created massive inequalities. There is now an ever-widening gap between the elites and the others. The Gini Coefficient for example is widening especially in places such as France, UK and USA, but also in emerging markets such as India, China and Indonesia. The corporate focus on maximizing shareholder value led to mass increase in income levels, but also with growth rates falling and global trade on a slump, there is a need to rejig strategies. Automation is fueling fears of job losses. There is now a need for a new kind of business leader. The CEO of today needs to be more inclusive in approach. This will help shape the new globalization wave. New technologies such as blockchain need be embraced. Entrepreneurial business growth needs to be provided a fillip. Sensors, software and business analytics are realigning value creation away from standalone products to suites of them. Substantial investment needs to be made in management training of existing employees. Rewards need be realigned towards more holistic goals. Finally, a social business mindset needs to be brought in.

Source:https://www.bcg.com/publications/2017/strategy-agenda-for-future-global-business.aspx?linkId=52367373

Uploaded Date:10 July 2018