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The march of time and new technology will create new business models that will replace the traditional ones, big data and analytics will change the way information is processed and used, the development in social media will have a massive effect on the way people and businesses collaborate, communicate, interact and work with one another. Work-roles and work-responsibilities will change leading to a new kind of business world.
It is predicted that in the future, maybe 5-10 years from now, three different types of worlds will come into being which will influence and mould new ways of working. The three worlds are the blue, green and orange worlds, whose characteristics are quite different from each other.
The Blue World:
The Blue World will be a bigger, concentrated form of what exists today – capitalism will be king. The emphasis will be on profits, revenue, market share and growth. The business model will be built on efficiency, speed and innovation. It will seek opportunities in order to compete in a challenging environment. Organizations will be humongous, focusing on data and rules. Talent will be sourced from all across the world to build a team with the right skill sets for the jobs in hand – with expertise in people, financial, analytical, marketing and risk management skills. Organizations will be cut-throat and outcome driven with analytics being used to measure, monitor and evaluate performance. High flyers will be rewarded and rise faster to the top. Individual performance will score over team output.
The Green World:
In the Green World, companies will focus on social and environmental responsibility. They will have a flat, fluid structure where every individual will have the power to contribute to decision making. Companies will be open, collaborative and learning-driven so as to support employees in their work. Corporate responsibility will form the focus of business. Corporations will aim to make a positive difference in the world rather than chase profits and revenue. Flexible work hours, care for the employees and families, emphasis on health, well-being, professional development, conferencing solutions to cut down employee travel, collaboration with all stakeholders (customers, partners, employees, etc) to develop products and services will be the main characteristics of the Green World.
The Orange World:
In the Orange World, small organizations rule. The aim will be to reduce costs and increase flexibility. It will be the world of freelancers and contractors who will have multiple working experiences working for a range of companies. Businesses benefit through outsourcing – the core internal team will collaborate with teams/freelancers as the need arises. People will be members of a particular skill or professional network rather than a specific company. This will support the building and growth of entrepreneurship among the younger generation.
As generations and workforces collide and diversify, technology, knowledge, data, trust and strong work relationships become key to the new world. Organizations would be well-advised to look at future opportunities and risks and formulate a long-term strategy depending on which world they wish to enter.