Dovetailing future predictions of innovation with the search for competition can help mitigate potential blind spots, but can also make matters more complex. For example, the deluge of data /information, lack of talent, global connectedness, sustainability, and coordination of government entities are all urgent matters that companies will have to address. Those that are up to the challenge can---among other things---take advantage of the analytical insights that can be gleamed from data, win the war for talent, and leverage the planet’s connectedness. Those that are not aware of their competitors or emerging market dynamics may have to succumb to lower returns for their stakeholders at best or be made extinct due to new market forces at worst.
A couple of forward-looking scenarios that have themes from both documents are noted below:
FedEx / UPS – Will drones and/or other fully mechanized delivery systems (e.g., drones) eat into shipping and logistics business’ market share? For a period of time, the U.S. government (FAA) had a ban on these.
Doctors – Will future versions of Intuitive Surgical’s da Vinci system eliminate the need for surgeons? Will the U.S. government (FDA) impact these types of innovation?
Traditional Brick and Mortar Universities – The total cost of higher education is too big to ignore; will future seekers of education prefer 1) institutions that offer less expensive distance learning; 2) programs that are fully online and do not [necessarily] grant degrees (e.g., Coursera and Udacity); 3) international start-ups from emerging economies that leverage less expensive talent?