The Industrial Company in the Year 2027 (Predictions Made in 1992)

Abstract

This speech was given at a McKinsey & Co retreat in 1992. Staffan Canbäck was then a partner at the firm and was asked to share his long-term views on the global economy, and a vision for the corporate workplace.

He picked 2027 as the year of predictions because it is a prime number and the approximate year of his retirement.

"Many industrialized countries have seen severe recessions over the last few years. This presentation tries to take a step beyond these problems, creating a scenario for what the world could look like in the year 2027, and how the industrial company would operate in this world. The purpose is to study what long term trends may affect corporations, so that we already today can start thinking about the kinds of strategies and organizations that are in line with future development. Obviously, the predictions are speculative, but I believe there is a core of truth in them."

The value of this transcript is that it made predictions in 1992 about 2027. Those predictions can now be tested to see if long-term predictions are possible.

Keywords: prediction, world economy, firm structure

JEL Classification: F01, F60, L23