Context | Economic reset

Understand economic change

March 2020

Risks and opportunities Strategy and roadmaps Capabilities Technical transformation Resilience and adaptation Carbon reduction Sustainability uplift

Economic reset

Your organisation exists in the context of economic, technological and societal change.

Organisations are working to understand these changes and planning considered responses. Practical Change can help.

Graphic showing that your organisation in the context of our techno-economy and our society which are both dependent on the biosphere.
Image of sand timer to indicate that time goes on even as indecision occurs.

Adapting to changing times is best undertaken by acting in a considered way— early, and under your own initiative.

Delaying action increases the impacts of change when businesses are forced to act later with greater urgency.


Our economy is being re-invented

The intensified application of science, technology and social endeavour, driven by new realities, is transforming energy, communications, transport as well as both business and social enterprise.

Digital and other technologies and their integration and adoption continue to trigger disruptions to old ways of doing things by bringing greater levels of decentralisation, automation, interoperability and insight-driven decision-making.


People expect business to have human values

Single bottom-line approaches that do not minimise or reduce harm caused by business activities are no longer socially acceptable.

Increasing collaboration, emphasis on people-centric values, evidence-based decision-making and an expectation of genuine action on known problems are important trends.

The earning of "social licence" through good will, transparency and respect, in addition to the normal regulatory and economic requirements has become essential.


The planet is central to decision making

Energy, communications, transport, agriculture and other societal mechanisms are being transformed to reduce environmental impact, to deliver better outcomes, and in many cases, simply out of necessity.

The opportunities are more fully realised if taken early and the risks less easily managed if decisions to change are delayed.

Businesses will have a less disruptive transition by commencing serious action sooner particularly in relation to climate.

Practical Change can help your organisation
understand economic change.

Talk to us to find out what it means for your business.

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Considered action.

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