When thinking about the next generation we tend to think about technology or young professionals, and when hearing about sustainability we inevitably link it to environmental issues – we tend to think of these as side elements that are add-ons. However, the concept of next generation is transversal to all activities that compose the different business models driving ports and terminals: The #NextGen Thinking.
Whether talking about maritime trade or not, young professionals –understood as Millennials and to lesser degree, Generation Z– are soon to become the largest share of the workforce. As they progress in their careers and rise through the ranks to become key industry decision-makers, there is no doubt that their thinking –the #NextGen Thinking– will reshape the future of maritime trade. Their views and different perspectives on industry wide issues such as digital transformation, innovation, sustainability, community outreach, diversity, and inclusion are most likely to have an impact on consumption patterns and the supply chain overall. Hence, industry strategists will need to factor this in as they develop present and future business models.
While the ways in which the industry will evolve in the coming years are yet to be discovered, a current trend, whose growing importance is worth mentioning, is the use of Environmental, Social & Governance (ESG) Metrics as a KPI for businesses across different sectors. More and more investors worldwide are no longer only looking at ‘the numbers in the books’ but also at the way in which a company –or a port, or a terminal– interacts with the ecosystem to which it belongs to in terms of its environmental and social impact, and how this is integrated into its business core activities. The pandemic has certainly brought a crisis upon the industry, but this halt has also presented industry stakeholders with the opportunity to capitalize on this #NextGen Thinking, not from a side-action perspective but integrating it transversally into their main operations and adapt them, with a focus on the future.
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