Technology and engineering consultancy BJSS unveils its latest report, “Embracing Tomorrow: Insights for Anticipating and Thriving in an Uncertain Future,” revealing concerning trends within the UK business landscape.
The report provides insights into business leaders’ perspectives on the current and future business climate, highlighting significant challenges ahead.
The report exposes the stark reality that half of UK business leaders surveyed express uncertainty about the survival of their organisations within the next decade. This existential uncertainty reflects a pervasive sense of insecurity in the business environment. Furthermore, 83% of organisations lack a forward-looking strategy beyond 10 years, indicating a prevailing trend towards short-term gains rather than long-term sustainability.
Climate Risk Neglect and Cybersecurity Misalignment
Despite mounting concerns about climate change, 75% of organisations admit to lacking concrete risk mitigation plans for climate-related events. This oversight potentially exposes them to environmental disruptions. Similarly, while 53% of organisations have risk mitigation plans for cybersecurity incidents, only 20% perceive cyber threats as the most significant risk in the next 5-10 years, highlighting a mismatch between perceived threats and preparedness.
The report also highlights a concerning gap in awareness regarding artificial intelligence (AI). Despite the growing prominence of AI, only 4% of respondents expressed concern about disruption from emerging technologies. This disparity underscores the need for greater understanding of AI implications for business.
Terry Dixon, Head of Growth at SPARCK (Part of BJSS), emphasised the importance of long-term planning for sustainability amidst economic turbulence. Dixon urged UK businesses to pivot towards a future-oriented approach, transcending short-term gains and embracing strategies that ensure long-term viability.
To delve deeper into the report’s findings, BJSS invites industry professionals to join their Future Thinking experts on Wednesday 17th April for a live webinar. Registration for the upcoming webinar is available at https://www.bjss.com/ev24-futures-thinking-webinar.