When our society is changing, then there is room for new narratives. But why didn’t we change the basic business narratives as our business world and society evolved? This was the question what I tried to answer in my article on MoreThanDigital.info.
Narratives are principles and basic assumptions we have in ourselfs. “It was always like this” is a great example of a narrative. We find this also in the business world. E.g. the sole purpose of a company is to generate profits, shareholders are the only group the business has responsibilities to, capitalism only works for money etc. … all these narratives are being taught in our schools, business life and so on.
But is it really like this? – NO
Future Business is all about a changing business world to a more “human” world. Business is not only about economics, it is about other stakeholders and also about other influences as well. Social entrepreneurship, social responsibility, happy employees and so on. These are just examples of a new business world.
We also need to factor in ethics. With limited resources, with high external impact on environment, stakeholders etc. companies find themselves in a very complex environment. Also incentives are changing. Recent studies have shown that there is only limited impact money has when it comes to motivation. There is a purpose, the self-development aspect and many more things involved which need to be addressed by a company to make their stakeholders happy.
Last but not least, also globalization is changing the way how we do things. We need to think interconnected, more than 60% of the global GDP is depending on global interconnecting supply-chains. That means that we also have to learn Arabic, African, Asian or other narratives and we have to adapt to them. Shared values and global impact make these decisions even more complex and avoiding local problems by outsourcing them to China, Bangladesh etc. is also not working so well anymore. People are concerned about tax-evasion, they want environmentally and fair produced goods and also information travels faster leading to bigger outrages for businesses if they are violating the customers shared values
It is time to think about new narratives and we need to do it NOW! #bethechange
The original article was published on MoreThanDigital.info – Future Business – Narratives and Business Models in a change