Growth of women power: The women-owned businesses have increased by about 54% in the last 15 years. When the world was hit by recession in 2008, a more number of men lost their jobs as compared to women. The reason behind this is that women possess the positions based on knowledge and have been capable of adapting themselves. Many women went for getting new degrees to get placed in new industries. This pace needs to be sustained in the new economy for having holistic development.
Growth in number of entrepreneurs: More and more young people, especially MBAs, are going for starting their own business, rather than working for large companies. Entrepreneurship has the potential to create opportunities for employment for the millions of employable resources of our economy.
Blue Ocean Strategies: A large number of companies are using blue ocean strategies to figure out growing needs in the ever changing global market. This occurs in diverse industries like construction, financial services and hydration system manufacturing. This further helps in the branding of the business.
Extinction of the middleman: The role of distributors and middlemen is changing rapidly, irrespective of the industry. The reason behind this is the change in the supply chain and business model of companies. These changes can be attributed to the growing e-commerce and the transformation of the buying process of end-users, in both B2B and B2C companies.
Change of culture: There is a serious need for the change in the culture of professionally managed multi national organizations. This may mean improvement in quality or engagement of employees. Culture change is also needed in K-12 schools. This will impact the overall welfare and nursing development for the hospitalized.
The market of sustainability: The companies creating energy efficient and new methods of carrying out things would fit well to this group. In the recent times, if a roof is old, the momentum has shifted to addition of roofs, instead of roof replacement, as it reduces usage of energy. The sustainability directors need the help of efficient home builders in today’s market.
Outsourcing: Too much of the non core activities were being managed by firms earlier. Today, it has been recognized that the non-core business processes can be outsourced so that firms can focus on their core competencies.
In conclusion, these are the trends affecting business in the current year. The business today has certain positive as well as negative aspects. The business owners have to tactfully deal with the negative aspects, to promote overall economic development. The changing times and advancement in science and technology, has resulted in many changes in the world of business. The business today is ruled by certain trends.
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