Current Business Trends You Should Know Right Now
The business world is constantly changing. New technologies, trends, and approaches to old problems come and go every day. And while many of these changes are highly obscure, others are so omnipresent that they’re difficult to avoid. It can be easy to overlook the effects of current events on your future career. If you’re anything like us, you may spend more time reading about the future than planning for it. The good news is that, while the future is often very unclear, there are plenty of clues about what kinds of jobs are likely to be in demand in the years ahead. Here is a brief overview of the most current business trends that you should know right now, according to Jonathan Osler.
1. Business Model Innovation
The business world is changing so quickly that a company’s “business model” can change within years. The nature of work is changing, as is our relationship with technology. As a result, we see many new kinds of companies emerge, and they are changing the way we do business.
2. Automation and Artificial Intelligence
Robotic and automated workers have been a part of the workforce for several decades. But in recent years, the pace of change has accelerated. Osler, an educator, predicts that, within the next decade, “we will see an era when more and more jobs are automated or highly outsourced to low-wage countries.” Automated technology has already begun to replace human workers in many fields. For example, algorithms now play chess better than humans do. And self-driving cars are already on the road. More advanced robots will be able to perform even more difficult tasks in the manufacturing and service industries.
3. Going from Global to Local
The global economy is changing to make it increasingly difficult for businesses to operate without a local presence. A recent study suggests that it’s more important than ever to know your customers in their native environment. “Whether you’re a small business or a large enterprise, you must be able to adapt to the needs of your customers and the local culture,” says Osler.
4. Social Engagement
“Social engagement is the hottest trend in customer experience. It’s a way of improving the customer experience by engaging the world around you and making your interactions with customers more human.” – Jonathan Osler. Today’s businesses are increasingly competing for customers’ attention on social networks like Facebook, Twitter, and LinkedIn. Customers are looking for companies that are quick to respond to their questions, offer useful products and services, and make them feel good about themselves. That’s why businesses invest in social media training programs to ensure that their employees effectively use these channels. One of the most popular applications for social media is customer service. Social media allows customers to interact directly with companies rather than email alone. The more interaction a company has with its customers, the more likely it will succeed.
The nature of work has changed. The macro trends and the micro-trends in this article have created a new environment for business, and it is important to understand the changing landscape when planning your strategy.