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What’s over the horizon? Recognising opportunity in uncertainty

Connect the dots on Australia’s possible futures

In the sixth edition of our Building the Lucky Country series, we ask ourselves what’s over the horizon? A question frequently asked in an increasingly uncertain world, the answer is more difficult to predict. The key to moving forward is seeking better and more detailed information about a wider range of possible futures. In What’s over the horizon? Recognising opportunity in uncertainty, we take a close look at three plausible futures for Australia.

There are two sides to Australia’s economic story at the moment. On the one hand, we’re about to chalk up the longest recorded run without a recession that the world has ever seen. On the other hand, we’re suffering from the uncertainty and related caution around investment that has the whole world in its grip. 

In Building the Lucky Country #6, we address the issue of uncertainty, and how to move forward despite it. The key to moving forward is seeking better and more detailed information about a wider range of scenarios. In What’s over the horizon? Recognising opportunity in uncertainty, we take a close look at three plausible futures for Australia. 

Download the report to see that there are plenty of good futures for Australia, and even the bad ones aren’t as bad as you think.

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We look at how uncertainty, complexity and the related caution they bring, have been affecting the global economy. We also outline how Australian leaders can move forward, despite this. Using scenarios gives us a better understanding of how a range of potential events could play out in the Australian economy. Having this information gives leaders the confidence they need to navigate uncertainty and invest in the future.

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We take a close look at three plausible futures for Australia and the impact these scenarios have on multiple industries, sectors and locations.

1. China tips into recession – consider the unseen events

2. Australia surfs Asia’s third wave – slipstream into the world’s fastest growing markets

3. Australia gets cyber smart – act with confidence, accelerate growth

 

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We set out some practical steps for leaders to follow to ensure their business can navigate uncertainty. Rising uncertainty means that change can arrive faster, and its consequences can be more unexpected: that means the value of thinking about plausible futures has risen by a lot. But we’re in the same old rut - most organisations haven’t really changed the depth, frequency or methods of how they think about what may come next. The future may be uncertain, but it isn’t entirely unknown. The better the information you can bring to bear, the smarter your strategy can be. Scenario planning is one way to get better information.

 

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