The second edition of this popular book offers an accessible yet sophisticated analysis of the game-changing events and trends that are transforming the world beyond recognition. For the first time in human history, more people live in cities than in the countryside, and greater numbers suffer from obesity than from hunger. During the next few decades, India will become the biggest country in terms of population, China the largest in output, and the United States the richest among the major economies on a per capita income basis. Food and water shortages will likely become humankind's most important challenges. With four new chapters on the rise of the global middle class, the transformative power of technology, institutions and the entrepreneurial spirit, and the trials and tribulations of the financial system, this book provides a thorough introduction to the challenges facing business and society in the twenty-first century.

The second edition of this popular book offers an accessible yet sophisticated analysis of the game-changing events and trends that are transforming the world beyond recognition. For the first time in human history, more people live in cities than in the countryside, and greater numbers suffer from obesity than from hunger. During the next few decades, India will become the biggest country in terms of population, China the largest in output, and the United States the richest among the major economies on a per capita income basis. Food and water shortages will likely become humankind's most important challenges. With four new chapters on the rise of the global middle class, the transformative power of technology, institutions and the entrepreneurial spirit, and the trials and tribulations of the financial system, this book provides a thorough introduction to the challenges facing business and society in the twenty-first century.

The financial crisis that began in 2007 triggered a break with banking practices of the past. Even as the crisis occurred, a broader set of economic, geopolitical, and technological forces were already reshaping the financial industry's transition from the twentieth to the twenty-first century. While these changes in the financial and global climate have led to a major overhaul of banking regulations and increased scrutiny of banks, they have also revealed opportunities for the development of a banking sector fit for the future. A New Era in Banking: The Landscape After the Battle identifies the main drivers of change at the heart of this wholesale transformation of the financial services industry. It examines the complex challenge for financial institutions to de-risk business models, reconnect with customers, and approach stakeholder value creation. Untangling the severe mutations that have taken place in the banking sector, A New Era in Banking, contextualizes these changes within larger trends that extend beyond the confines of the financial crisis. Banks are more vulnerable than ever to the crosscurrents of economic, demographic, regulatory, and technological change. However, by discussing how banks can operate as flexible, technology-enabled information businesses, A New Era in Banking advocates financial practices based not only on survival, but innovation.