Heads up: caring is crucial 

Ten-year-olds preoccupied with Halloween and their GameBoys couldn’t care less about the condition of industry in 2016. However, as the current responsible generation, we must look out for them, while taking care of our own immediate needs.

A PricewaterhouseCoopers’ report, Corporate Responsibility: Strategy, Management and Value, targets six trends that will impact industry to drive sustainable development during the next 10 years.

According to Sunny Misser, PwC’s global leader of sustainable business solutions, success begins with integrating a comprehensive strategy into core operations and is then achieved by acting upon the commitments every day and disclosing the plan and its challenges to the world.

Six trends predicted to make a difference:

• Growing influence of global market forces: watch for decision-making to be influenced by the markets as they reflect more demand, reduced supply and pattern changes in the demand for natural resources.
• Revisions in the financial model used to set corporate and government strategy: look for new scenarios, risk factors and more intangible and nonfinancial factors.
• Innovation, particularly in core industries: we’ll see an exponentially expanded rate of innovation, including changes in behaviour, product design, supply chains, technology and geopolitical structure.
• Globalization: ears to the ground will hear international institutions taking the responsibility from nationals and locals for formulating global policies.
• Evolution, not revolution: be ready for specific catalysts to cause spurts of great change.• Communication: watch for the global media’s influence on issues that come to the fore with governments and industries.

Full report: www.pwc.comextweb/pwcpublications.