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Called Management Futures, the study identifies 17 possible scenarios facing UK organisations in the next decade.

It analyses current trends, past experience and the views of economists, an academic and business leaders to predict what the world of work will look like in 2018.

Combined with a survey of over 1,000 senior executives, the study will be used to help business leaders understand what needs to be done, today, to prepare for tomorrow.

Surveillance of work will increase 

The findings imply that holograms, robots and ‘intelligent’ computers all have a role to play in the UK’s future business landscape.

CEOs will be more concerned, however, by changes to current business models, trade blocs and the UK’s ability to compete on a global scale.

The report forecasts that trade blocs, within and across markets, will experience more competition and conflict.

According to the executives surveyed, global corporations will exert more influence than governments (66 per cent) and surveillance of work will increase on all levels (93 per cent).

The data also suggests that the marketplace will be heavily influenced by new players from Brazil, Russia, India and China.

Knowledge based economy 

Supply and demand business models will change their nature, becoming more open to external influences.

Two-thirds (63 per cent) of executives suggest customer participation in business decisions will increase, and 62 per cent predict that environmental concerns and regulation will create products with longer lifecycles.

Organisations will alter in character, reflecting changes in society. For example, 63 per cent believe ‘teams will be more multi-generational’, and 42 per cent say ‘increased numbers of senior women will have changed management styles’.

There are strong signs of the UK becoming a knowledge based economy. A growing share of UK GDP comes from knowledge intangibles and an increasing proportion of trade in the UK is high value added services.

Exports of financial services, computer services and royalty and license fees have grown by over 100% in current terms between 1995 and 2005.

These knowledge economy related services were worth £76 million in 2005 and accounted for 70 per cent of all service exports.

Professional and technical occupations have growth considerably in the last decade, especially jobs in teaching, research and health.

The number of managers has grown by two million since 1984 and by 2004, this group constituted 15 per cent of the workforce.

Predictions range from terrorists attacking the internet, bringing work to a halt, through to a world dominated by digitally controlled employees.

With this in mind, the study calls for a focus on ‘intellectual property banks’ to balance requirements for openness with business protection and argues that ‘brain enhancement technology’ must be monitored to avoid misuse.

Project management skills 

Only a small proportion of executives think that holograms (31 per cent), robots (27 per cent) or implanted bio-chips (12 per cent) will be used to drive business efficiency.

Seventy-four per cent argue that ‘virtual businesses’ will be commonplace, however, and 87 per cent say the nature of work in 2018 will lead to increased ‘virtual contact’.

Organisations will still need many of the skills required today, but the ability to drive change will be prized.

The research shows that 75 per cent believe project management skills will be necessary for all, with 63 per cent agreeing that ‘innovation and creativity will be key to most tasks’.

The study predicts that the ‘work needs’ of employees will change as they operate across wider geographical areas.

Sixty-five per cent expect working from home will be commonplace to reduce the carbon footprint, and 73 per cent suggest work-life balance will be the key to job choice.

Greater degree of emotional intelligence required 

Mary Chapman, chief executive, at the Chartered Management Institute, says that it is clear that the successful organisations will be those who can do more than embrace change – they will anticipate, identify and drive it.

“Of course we cannot determine the future, but that does not mean we shouldn’t forecast and prepare for it to ensure that organisations and teams are effective, capable and competitive,” Chapman adds.

The report goes on to identify ‘humanness’ as a key factor for future organisational success. It suggests that positions and job titles might be removed if they hinder collaboration.

Looking at the ‘private needs of people’ the study also shows that changing demographics will compel organisations to offer more tailored lifestyle benefits to employees.

Chapman says that a greater degree of emotional intelligence will be required by managers and leaders so they can understand how people work and their likely reaction to change.

They will also need to shift from today’s input-driven approach to a focus on output, achievement and a better integration between work and personal lives.

Related links

• Chartered Management Institute
• Management Futures (full report)