Emerging Trends Fuel New Opportunities in Business

 

TREND /trend/ n.

A general direction in which something is developing or changing.

 

Rapid change is a given today, in most industries. Being prepared for that change is where the Georgia WebMBA® at Georgia College comes in. Knowledge of emerging trends in your line of business will assist you in setting yourself apart from others in your field…

 

1) Collaboration. Many businesses are focused on interactions with other organizations. Collaboration and global communications breed innovation and greater opportunities for growth.  With east and south Asian nations becoming leading powers in the world’s economy, skills in these areas are critical. These sentiments remain true in a company’s human resources department, where recruiters and trainers emphasize multi-cultural task forces and diversity of thinking. As population growth and urbanization stimulate demographic shifts, companies are able to reach and retain a wider clientele.

 

2) Technology & Accessibility.  Everyone is on the go and on the move. The merger of media and technology supplies us with endless streams of information. Technological innovations have allowed many people the option to choose to work remotely or from home. This is now a common option thanks to the growing usage rates and reliability of cloud computing. The launch of healthcare.gov truly set the pace for the magnitude of this trend. Innovations within this area seem endless.

 

3) Corporate Responsibility. As seen with cases like Hobby Lobby and Eden Foods, it’s getting harder to separate personal from professional beliefs. Employees and stakeholders care about the impact and motivations of the companies they associate with. By supporting specific causes, campaigns, and events, businesses make a statement about allegiances. Though a seemingly minute aspect of the company’s entity, and usually separate from its actual product or service, these allegiances can serve to either draw or alienate customers.

 

4) Security. The days of a monthly, routine, virus scan for malware are over. Online banking and technologies like Square made the general public and small businesses more aware of the implications of a security breach. The constant stream and exchange of private personal and financial data begs the need for tightened cyber security, and companies are doing their best to meet it.

 

5) Specialization. Are you a Jack/Jill of all trades, but a master of none? Businesses are making it clear that they seek employees with specific knowledge about specific things. Specialization offers businesses and individuals a comparative advantage, making them more distinguishable in quality, product, and results. If you want greater opportunities for advancement, specialization is key.

 

6) Customer Service.  The motto used to be that “the customer is always right,” these days, it’s more along the lines of: “the customer gets what the customer wants.” By keeping clients and customers satisfied and engaged in business dealings, businesses erect a bubble of trust among all parties. Honoring promises and personalizing the customer’s concerns help build fruitful, long-term relationships.

 

7) Entrepreneurship. Thousands of people are walking away from traditional careers and taking initiative in making their passions lucrative by starting their own full-time endeavors. Social and digital media enable people to get in contact with each other, people who may not have otherwise crossed paths. Crowd-funding platforms like Kickstarter, Indiegogo, and GoFundMe help dreams come true. Between 2008 and 2012, percentage growth of these platforms grew a whopping 60 percent (Statista, 2014).

 

Are you ready to get in step with the times? Hop on board! Learn more about the Georgia WebMBA® at Georgia College by calling (478) 445-5115.