| Well, I've been talking to managers in a number of businesses, |
| and reading surveys about the future of management. |
| And what I'm going to present in this seminar |
| is a few ideas about how the activity is likely to change in the next ten years. |
| It isn't a scientific, statistical analysis - |
| just some ideas for us to discuss. |
| One area I want to mention is business markets, |
| and I'm sure a really significant development will be a major increase in competition, |
| with companies from all around the world trying to sell similar products. |
| Consumers will have much more choice, |
| for instance, food products sold in Australia might be manufactured in the USA, China, Finland and dozens of other countries. |
| At the same time, mergers and takeovers mean that governments are actually losing power to major global corporations. |
| We can probably all think of companies that exert a great deal of influence, |
| which may be good for consumers. |
| A third point I want to make about markets |
| is that in the rapidly expanding economies, |
| such as India, China, Brazil and Russia, |
| demand is growing very fast. |
| This is putting pressure on resources all over the world. |
| I think businesses are becoming more open to external influences. |
| In particular, companies are consulting customers more and more before making their business decisions. |
| Companies are finding out what they want and providing it, |
| instead of making products and then trying to sell them, |
| which is the model of years ago. |
| Another influence is that concerns about the environment will force manufacturers to extend product lifecycles, |
| to reduce the amount of pollution and waste. |
| And in some cases, regulation will need to be strengthened. |
| Many societies are much more fluid and democratic, |
| and the structure of companies is changing to reflect that. |
| I think we're going to see a greater emphasis within companies on teams created with a specific project in mind. |
| And when they're completed, |
| the teams will be disbanded and new ones formed. |
| More and more people see work as simply one part of their lifestyle, |
| and not the most important one, |
| and as the workforce is shrinking in some countries, |
| businesses are having to compete for staff instead of being able to choose among a lot of applicants. |
| Typical examples that will attract and retain staff are traditional ones like flexible hours and - |
| something that has been made possible by advances in technology - remote working, |
| with people based at their home, abroad, or almost anywhere they choose. |
| Management styles will almost certainly continue to change. |
| Senior managers will require a lot more than the efficiency that they've always needed. |
| Above all they'll need great skills in leadership, |
| so that their organisation can initiate and respond to change in a fast-moving world, |
| where they face lots of competing requirements and potential conflicts. |
| In most of the world, the senior managers of large businesses are mainly men in their fifties and sixties. |
| The predominant style of management will almost certainly become more consultative and collaborative, |
| caused above all, by more women moving into senior management positions. |
| Many of the changes are influenced by developments in the wider economy. |
| The traditional emphasis of business was manufacturing, |
| and of course the service sector is very important. |
| But we shouldn't overlook the growing financial contribution of IP, that is, intellectual property. |
| Some books and films generate enormous sums from the sale of related DVDs, music, games, clothes, and so on. |
| Another point I'd like to make is that although I've been talking about companies, |
| one trend that they have to face is the move away from people working for the same employer for years. |
| Instead, more and more people are becoming self-employed, |
| to gain the freedom and control over their lives that they're unlikely to get from being employed. |
| OK, well that's all I want to say, |
| so let's open it up for discussion. |