Sport's next big thing

The widely respected Harvard Business Review has recently published its latest edition, which is a special entitled 'Strategy in the New World'. In no way is the HBR intended to provide specific insight into the future for sport, although it does provide some helpful insight that may give us a better understanding of what is to come for sport. The following quotes are taken directly from an article that highlights 'what next'?

"After a full year in heads-down crisis mode, business executives are looking again to the future. As they reengage in strategic thinking, many are struck by a sense that the world has changed: The turmoil was not merely another turn of the business cycle but a restructuring of the economic order. Is that impression accurate?

To answer this question, it is necessary to examine the underlying forces that shape the business environment and to look for discontinuities. McKinsey & Company tracks the most important of these forces, from the growth of emerging markets to the evolving role of business in society. Here we discuss how the crisis may affect their trajectories, and we address the implications for strategy.

Some trends, we argue, remain firmly on track, but uncertainties are cropping up around others. We also see signs of new forces emerging, which we will be exploring in more detail in the months ahead. The overall picture is of an altered business landscape. It does seem there will be no going back to the pre-crisis world."

In this context, the following are identified as major emerging trends that all organisations will have to address and manage within the following developments:

-Resources feeling the strain
-Globalization under fire
-Trust in business running out
-A bigger role for government
-Management as a science
-Shifting consumption patterns
-Asia rising
-Industries taking new shape
-Innovation marching on
-Shifting consumption patterns

The article goes on to recommend the need to be aware of the following:

“Strategies will hinge on which scenario materializes, but for the moment companies should -

Prepare for slower long-term growth in global consumption. Companies that have relied on fundamental market growth, especially for mature products, now need to fight for market share or compete in new categories.

Shift investment to Asia. Consumption is clearly growing faster in China and India than in developed markets.

Focus on older consumers. Within five years, more than half of all consumer spending in the U.S. will be by consumers over 50, and the proportion of older households is rising in Europe and Japan as well.

Find ways to offer luxuries on a budget. Tighter household budgets don't mean lower aspirations. Our research shows that stretched consumers in slow-growing economies will still want to feel that they are living the good life.”

Simple question: what does this all mean for sport?