Businesses worldwide are undergoing transitionary periods, where emerging trends are impacting players and how they do business, extending from how they organize their firms internally to re-examining their roles and functions in relation to global societies.
Such a dynamic can be observed through several recent trends. For instance, consumer awareness surrounding sustainability is growing, and this has introduced new factors that people consider when buying goods and services.
This trend has motivated corporates to increase their sustainability initiatives, such as increasing their ESG (environmental, social, and corporate governance) efforts. Another trend is the transition of industries toward the fourth industrial revolution, where businesses seek to gain competitive advantages by further integrating innovative technologies, like artificial intelligence (AI), robotics, and the Internet of Things (IoT), among many others.
YCP Solidiance is proud to be part of Nextcontinent’s latest white paper, Future of Global Corporations: Key Trends and How to Turn Them Into Strategy, which explores key trends to guide firms on how to navigate and adapt new strategies amid an ever-changing company environment.
Our Managing Partner and Management Services CEO, Pilar Dieter, shared her expert insight on the topic. Pilar has over 20 years of experience in the management consulting industry, having worked with Fortune 500 firms and developing a strong background in Asia-focused advisory. She has been involved with several foreign and American business interests in China’s public and private sectors related to cross-border trade initiatives. She is also knowledgeable in other major Asian markets, having worked previously in Singapore, Japan, Korea, India, and Malaysia.
This white paper discussed the unique opportunity that Multinational Corporations (MNCs) are now presented with, wherein players must re-align their strategies as informed by industry trends. This publication also focused on the emerging trends that will shape the future of MNCs, and how corporations can successfully guide and navigate long-term growth in dynamic global markets.
Key Trends on Future Jobs and Skills
The predicted trends that will have an impact on corporations’ futures can be categorized into five dimensions, each varying in scope and relating to a different area of operation within corporations:
- The future of jobs and skills, or work background – Focuses on the types of jobs that will become available and the associated skills needed from the workforce. Themes under this dimension also include the role and impact of technology, emerging business models, etc.
- The future of work and its organization, or form of work – This relates directly to how the work is organized, encompassing related agendas relevant to the company and its employees, such as working methods (work setup, working hours, culture, etc.)
- The future of the company’s role in society, or contribution – Adopts the perspective of the business’ role and how it functions in relation to society, analyzing an MNC’s purpose and contribution as well as its legal framework and status.
- The future of the link of companies with territories and stakeholders, or connection – The primary consideration in this dimension focuses on the future dynamics created due to key trends and their impact. Other themes include MNCs’ networks, partnerships, and connections across global societies.
- The future of value chains – Explores the future trajectory of value chains, where upstream and downstream processes may change due to several factors.
Looking ahead, being informed of the market trends per dimension is important, and understanding how to respond, deal with, and tackle the implications brought about will be equally important. Becoming familiar with emerging trends, informing strategy based on insights gathered, and then re-evaluating and adapting operations will be key for corporations and their success, especially as the global business landscape evolves.
Download this free report to access actionable insights, informing how players can navigate the global marketplace and its dynamic environment.