McKinsey survey on the top business trends

The McKinsey Quarterly has an interesting survey on the executive take on the top business trends facing us now:

What contributes most to the accelerating pace of change in the global business environment today?

  • Innovation in products, services, and business models
  • Greater ease of obtaining information and developing knowledge

What contributes most to the increasing competitive intensity in your industry today?

  • Improved capabilities of their competitors – e.g. better knowledge or better talent
  • More low-cost competitors.

During the next 5 years, what are the most important trends in terms of impact on global business?

  • Growing number of consumers in emerging economies / changing consumer tastes
  • Shift of economic power between and within regions
  • Greater ease of obtaining information, developing knowledge

[In addition to the above] what are the most important trends in terms of impact on the profitability of your business?

Increasing communication and interaction in business and social realms due to technological innovation

It concludes with the feeling that executives tend to underestimate some of the great risks involved in an increasingly competitive business world.

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