100 Drivers of Future Change, key categories include: Practice of Accounting Accountancy Profession Economy Politics & Law Environment, Energy, & Resources Science & Technology Business Society

2. The global body for professional accountants
100 Drivers of Change
for Business
ACCA International Assembly
November 21st 2013
Rohit Talwar
CEO - Fast Future Research
www.fastfuture.com
rohit@fastfuture.com
Twitter @fastfuture

3. Contents
• About Fast Future p. 4
• Presentation p. 6
• Image Sources p. 80

4. What we do
 Foresight Research
Helping you explore and understand
forces and ideas shaping the future
 Consulting
Enabling you to respond to and create
future change
 Speaking and Moderating
Inspiring insights into a changing world
and how others are responding to it
 Event Design and Facilitation
Bringing the future to life and helping
develop an action agenda

5. The global body for professional accountants
‘Future Proofed’ Organisations
Work on 3 Horizons in Parallel
1-12 Months
Operational
Excellence
1-3 Years
Drive for
Growth
4-10 Years
Creating
the Future

6. The global body for professional accountants
The Drivers of Change –
Key Categories
Practice of
Accounting
Accountancy
Profession Economy
Politics & Law
Environment,
Energy &
Resources
Science & Technology Business Society

7. The global body for professional accountants
Economy

8. The global body for professional accountants
• GFC fallout
• Effectiveness of the
global economic
infrastructure
• Debt sustainability
• Globalisation vs.
Protectionism
• Shadow economies
• Persistent turbulence
Systemic Challenges

9. The global body for professional accountants
Economic Management
• Stability of national
revenue bases
• Changing notions and
role of global reserve
currencies
• Stock exchange
mergers
• Alternative economic
models

10. The global body for professional accountants
Societal Impact
Attitudes to pure capitalism and inequality

11. The global body for professional accountants
Prospects for Growth
• Role of infrastructure
investment
• Knowledge economy
• Micro-businesses
• Labour mobility
• Measures of value /
progress

12. The global body for professional accountants
Accountancy
Impact of the BRIC economies on global
accountancy firms

13. Crypto (Digital) Currencies like Bitcoin
are Challenging Governments

14. The global body for professional accountants
Politics

15. The global body for professional accountants
National Governance
Level of political volatility and the rate of
democratic transition

16. The global body for professional accountants
Global Governance
Role of global institutions

17. The global body for professional accountants
Societal Structures
Impact of cultural globalisation

18. The global body for professional accountants
Compliance
Scale and complexity of regulation

19. The global body for professional accountants
Service Delivery
Governance and quality assurance of
public sector outsourcing

20. The global body for professional accountants
Society

21. The global body for professional accountants
Demographics
• Rate and distribution of
global population
growth
• Resulting implications
for workforce age
structure

22. The global body for professional accountants
The Changing Workforce
• Female participation
• Cultural diversity in
society and the
workforce

23. The global body for professional accountants
Generational Perspectives
Expectations of emerging generations

24. The global body for professional accountants
Developing Workforce
Capability
• Cost and ease of
access to higher
education
• Growing role of online
learning

25. The global body for professional accountants
Business

26. Orthodoxies are Being Overturned
Ark Hotel - Dongting Lake - China

27. The global body for professional accountants
Appetite for Transformation
• From governance /
leadership to
innovation
• Consideration of
alternative business /
market paradigms

28. The global body for professional accountants
Globalisation Opportunities and
Challenges
• Scale of international
mergers and acquisitions
• Global talent pool
• Choice of business
languages
• Reverse innovation from
emerging economies
• Level of FDI in emerging
economies
• Impact of new financial
centres

29. The global body for professional accountants
Changing Landscape
• Emergence of new
industry sectors
• Social business
• Level of social
entrepreneurship

30. The global body for professional accountants
Management

31. The global body for professional accountants
Market Mechanisms
• Role of cash in
financial
transactions
• Role of
intermediaries

32. The global body for professional accountants
The New Normal
• Business complexity
• Accelerating business
cycles
• New business models
(e.g. crowdfunding)
• Use of integrated
systems thinking

33. The global body for professional accountants
Licence to Trade
• Management of
enterprise risk
• Accountability
• Compliance
• Adoption of corporate
‘living wills’

34. The global body for professional accountants
‘Good Business’
• Evolution of corporate
governance
• Managing diverse
stakeholder
expectations
• Reputation
management
• Business
responsibility

35. The global body for professional accountants
Science and
Technology

36. ‘Magic’ and Science are Blurring
Mapping and
Uploading the
Human Brain
Cognitive,
Genetic,
Physical and
Electronic
Enhancement of
the Human Body

37. ‘Big Science’ is the Battleground

38. New Paradigms are Emerging –
e.g. Hyperloop

39. Developments like Autonomous Vehicles
could be Truly Disruptive

40. The global body for professional accountants
Digitisation of Business and
Everyday Life
• Growing personal
technology ecosystems
• Bring your Own Device
(BYOD)
• Ease of access to
internet / social media
• Technology impact on
attention spans, learning
and knowledge retention

41. The global body for professional accountants
Business Applications
• Cloud computing
• Valuation of digital
assets
• Cybersecurity
• Rise of ‘big data’
• Value of data mining

42. The global body for professional accountants
Disruptive Developments
• Rise of new industries
and production
models
• Digital publishing
• Intelligent accounting
systems
• Predictive analytics
• Augmented reality
• Virtual reality

43. The global body for professional accountants
Emerging High Potential Areas
of Science
• Genetics
• Personalised health
care
• Brain science
• Robotics
• Nanotechnology

44. The global body for professional accountants
Our Technologies are Evolving From
Desktop to Mobile ...

45. The global body for professional accountants
...to Wearable...

46. The global body for professional accountants
...to Embedded...

47. The global body for professional accountants
... to Grown and Grafted...

48. The global body for professional accountants
…and totally Connected via
‘The Internet of Everything’
“What happens when the smartest thing in the room is the room itself?”
Madeleine Albright

49. Speech / gesture / image recognition, integrated analytics, knowledge management,
image / video / voice mining, client self-service, intelligent documents, expertise
systems, collaboration, secure email, virtual assistants, intelligent agents and
collective intelligence
Artificial Intelligence is Going
Mainstream
88%
AI advisers /
helper apps
will structure
legal
documents
and check
content
generated by
lawyers

50. The global body for professional accountants
Environment, Energy
& Resources

51. The global body for professional accountants
Impact of Current Consumption
and Production Patterns
• Competition for
natural resources
• Sustainability of
current patterns of
consumption

52. The global body for professional accountants
Environmental Challenges
Climate change and the biodiversity
impacts of business

53. The global body for professional accountants
Greening of Business
• Corporate eco-
literacy
• Green practices
• Ethical consumption
in business

54. The global body for professional accountants
‘Marketisation of Green’
• Carbon trading
• Environmental
financial markets
• Take-up of green
energy

55. The global body for professional accountants
Practice of
Accounting

56. The global body for professional accountants
Strategic Finance
• Changing scope,
scale and complexity
of the CFO role
• Growth in demand for
non-financial and
integrated reporting

57. The global body for professional accountants
Globalisation
• Accounting
regulation, standards
and supply chains
• Implications for the
strategies and
structures of
accountancy firms

58. The global body for professional accountants
Operational Considerations
• Defining audit’s role
• Managing internal audit
• Balancing managerial
and financial accounting
• Valuation of intangible
assets
• Size of specific
regulations and rate of
adoption of XBRL as an
accounting data standard

59. The global body for professional accountants
Accountancy
Profession

60. The global body for professional accountants
Responding to the Financial
Crisis
• Societal definitions
and expectations of
accounting
• Public perceptions
and attractiveness of
the profession

61. The global body for professional accountants
Training and Development
• Flexibility, cost and
suitability of
accountancy training
• Developing
entrepreneurial skills
and business
awareness
• Building capacity in
transitional
economies

62. The global body for professional accountants
Sector Structure
Impact of entrants from outside the
profession on the accountancy services
sector

63. The global body for professional accountants
Sector Evolution
Establishing the role of industry
associations in developing markets

64. The global body for professional accountants
5 Strategic action
imperatives for
business.

65. The global body for professional accountants
Assume and Plan for Volatility

66. The global body for professional accountants
Build the Radar

67. The global body for professional accountants
Pursue Technology Leadership

68. The global body for professional accountants
Prepare for True Globalisation

69. The global body for professional accountants
Develop a Curious, Sticky,
Experimental and Adaptable
Mindset

70. The global body for professional accountants
5 Strategic action
imperatives for the
accountancy profession.

71. The global body for professional accountants
Embrace an enlarged strategic
and commercial role

72. The global body for professional accountants
Establish trust and ethical
leadership

73. The global body for professional accountants
Focus on a Holistic View of
Complexity, Risk and
Performance
•Customer Interface
•Process
•Organisation
•Information/Systems
•Regulatory
•Human
•Financial

74. The global body for professional accountants
Develop a Global Orientation

75. The global body for professional accountants
Reinvent the Talent Pool

76. The global body for professional accountants
Implications and Opportunities
Leverage Existing
Capabilities
Develop New
Capabilities Build the Pipelines
Target Growth Sectors
Respond to Fast
Growth SME
Needs

77. Conclusions –
21st Century Survival Skills
• Foresight / Curiosity
• Sense making
• Accelerated learning
• Uncertainty tolerant
• Scenario thinking
• Embrace complexity
• Networking
• IT Innovation

78. Useful Reference Sources
• Genetic profiling - https://www.23andme.com/
• X Prize - Breakthrough innovation projects - http://www.xprize.org/
• Google brain uploading - http://digitaljournal.com/article/352787
• Brain mapping projects - http://www.technologyreview.com/news/513011/why-obamas-brain-
mapping-project-matters/
• Global Future 2045 (immortality) http://2045.com/
• Human enhancement - http://en.wikipedia.org/wiki/Human_enhancement
• Wearable technology – Google Project Glass - http://www.google.com/glass/start/
• Emotiv Epoc Brain-Computer Interface - http://www.emotiv.com/
• AI Essay Grading Software - http://www.nytimes.com/2013/04/05/science/new-test-for-
computers-grading-essays-at-college-level.html?pagewanted=all&_r=0
• Crypto currencies –
– http://www.abc.net.au/technology/articles/2013/09/25/3855973.htm
– http://en.wikipedia.org/wiki/Cryptocurrency
– http://en.wikipedia.org/wiki/List_of_cryptocurrencies
• Autonomous cars -
– http://www.engineering.com/DesignerEdge/DesignerEdgeArticles/ArticleID/6357/Tesla-
Working-on-Autonomous-Car.aspx
– http://www.popsci.com/cars/article/2013-09/google-self-driving-car

80. Image Sources

81. Image Sources p.1
Page:
4. http://lifecoachonthego.com/wordpress/wp-content/uploads/2011/02/Woman-Ladder-Binoculars-300x200.jpg
5. From left to right:
http://www.kleinfelderinsurance.com/img/commercial_insurance.jpg
http://www.original-press-releases.com/2011/12/story-article-now-offering-free-article.html
http://www.kgwings.com/hawkeye/hawkeye05.jpg
6. From left to right top, bottom:
http://stanleyaccountingservices.com/wp-content/uploads/2012/02/accounting.jpg
http://cdn.cnwimg.com/wp-content/uploads/2010/08/accountant-300x200.jpg?cda6c1
http://www.etftrends.com/wp-content/uploads/2011/07/1_fullsize.jpg
http://3.bp.blogspot.com/-80zvXKxYCO0/T0HxCMRlFeI/AAAAAAAADmU/TXWPprCRK2s/s1600/us.capitol.building.double.twin.pillars.jpg
http://environmentallaw.uslegal.com/files/2009/11/Environmental-Law_SubDomain.jpg
http://www.nanotechnologyinvesting.us/images/nanotechnology-480.jpg
http://library.reynolds.edu/images/libguides/bus1.jpg
http://www.m1creative.org/wp-content/uploads/2011/01/demographics.jpg
7. http://freedomoutpost.com/wp-content/uploads/2013/10/business-news_05_temp-1334821725-4f8fc35d-620x348.jpg
8. http://2.bp.blogspot.com/-YHivYmGauVI/UafD59dm8FI/AAAAAAAAATQ/f5Qf6txdaKM/s1600/Atlas+of+Economic+Complexity2.png
9. http://www.munknee.com/wp-content/uploads/2011/11/global_economic_crisis.jpg
10. http://latimesblogs.latimes.com/.a/6a00d8341c630a53ef01539200c8f7970b-600wi
11. http://emerginggrowth.com/wp-content/uploads/2013/08/Growth.jpg
12. http://mycatbirdseat.com/wp-content/uploads/2012/05/BRICS-ECONOMY.jpg
13. http://im.ft-static.com/content/images/c416afb0-a5b9-4506-950c-12d6ecd0b8d5.img
14. http://upload.wikimedia.org/wikipedia/commons/1/15/BRICS_leaders_G20_2013-2.jpg
15. http://thediplomat.com/wp-content/blogs.dir/1/files/2013/01/4753649052_cd7c41f3ae_b-440x293.jpg

82. Image Sources p.2
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17. http://www.creativecultureint.com/wp-content/uploads/2012/03/One-Global-Culture.jpg
18. http://www.ictregulationtoolkit.org/images/lib/Mod6_Chap3_Fig3A.jpg
19. http://www.govopps.co.uk/wp-content/uploads/2012/06/handshake_324875m1-360x240.jpg
20. http://libcom.org/files/Society-of-the-spectacle.jpg
21. http://www.nfib.com/Portals/0/PDF/AllUsers/BusinessResources/workforce.jpg
22. http://upload.wikimedia.org/wikipedia/commons/thumb/1/12/We_Can_Do_It!.jpg/512px-We_Can_Do_It!.jpg
23. http://www.eintracht-aurich.de/wp-content/uploads/2011/12/gruppenbild-mixed-generations_01.jpg
24. http://discoverwebsbest.files.wordpress.com/2011/06/khan-academy.jpg
25. http://www.babusinesslife.com/Media/images/F0110H---British-Airways-Business-Life---Future-Travellers-by-Justin-Metz-aac1a06a-5eb3-415b-9ad9-
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26. http://www.dailymail.co.uk/news/article-2083883/Ark-Hotel-construction-Chinese-built-30-storey-hotel-scratch-15-days.html
27. http://www.entrepreneur.com/dbimages/blog/h1/4_rules_for_innovative_leadership.jpg
28. http://img.photobucket.com/albums/v53/MagikGuy/Globalisation.jpg
29. http://0.static.wix.com/media/3a255d_8b8ed452212f27b1ea43451c0faec569.jpg_512
30. Left, right:
http://images.mirror.co.uk/upl/people3/mar2012/2/8/image-29-for-pics-for-25-03-2012-gallery-425106654.jpg
http://www.themeetingmagazines.com/index/Portals/1/2007_10_CIT/6.%20Features/2.%20ManagingMeeting/tight-rope-300.jpg
31. http://static.guim.co.uk/sys-images/Guardian/Pix/pictures/2012/6/14/1339691587517/Wad-of-cash-008.jpg
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35. http://www.chilloutpoint.com/images/2009/09/human-and-robots-visions-of-the-future/human-vs-robot-08.jpg

83. Image Sources p.3
36. Top, bottom:
http://www.newsyaps.com/wp-content/uploads/2013/03/digital-brain.jpg
http://www.pakalertpress.com/wp-content/uploads/2012/06/Transhuman-Symbolism-in-Prometheus.png
37. http://cdn.ientry.com/sites/webpronews/article_pics/avatar2045.jpg
38. http://s3files.core77.com/blog/images/2013/05/high-speed-tube-01.jpg
39. http://www.instablogsimages.com/1/2011/10/03/bmw_autonomous_car_dtcci.jpg
40. Http://www.businesscomputingworld.co.uk/wp-content/uploads/2012/07/Personal-Cloud_2.jpg
41. http://www.a2dinc.com/a2dweb/basejpg/a2deye.jpg
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43. http://overthemoonscifi.files.wordpress.com/2012/06/brain-mind.jpeg
44. Left, right:
http://quietfurybooks.com/blog/wp-content/uploads/2012/09/original-cell-phone.jpg
http://www.universalexports.net/Movies/Graphics/18-gadgets/cellphone2.jpg
45. Clockwise:
http://cdn2.ubergizmo.com/wp-content/uploads/2013/01/Google_Glass_features_in_flux.jpeg
http://naturescrusaders.files.wordpress.com/2010/07/brain-computer-alsno-lead-art1.jpg
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53. http://www.earthshare.org/images/greenteam.jpg

84. Image Sources p.4
54. http://www.blogcdn.com/green.autoblog.com/media/2007/03/conesville_power_plant.jpg
55. Left, right:
http://www.paulparish.co.uk/wp-content/uploads/2011/06/accountancy.jpg
http://3.bp.blogspot.com/_BnzSvVLD1IA/TRxsvIKCyPI/AAAAAAAAAC0/1Hv6IBSmm7o/s1600/accounting.jpg
56. http://davidparmenter.com/files/winning-cfo-model.png
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85. Image Sources p.5
76. From left to right top, bottom:
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http://www.bitc.org.uk/images/slideshowlandscape/7753_Growing_and_Nurturing_Talent.gif
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