The world of business is constantly changing and the future will be set by three key market dynamics.
Saying that businesses need to adapt to change is obvious; understanding how to do that in such a fast-moving global market is less cut and dry. Technology keeps getting smarter, power keeps shifting between economies, and digital start-ups keep developing services that threaten to disrupt profitable enterprise lines of business.
To adapt and respond to these changing market conditions, multinational organisations (MNCs) need to know which trends to pay attention to and what they mean for enterprise. Below we provide our pick of global trends business decision makers should monitor.
This is changing how and where we work and also the tools we want to use. For generations brought up on cloud, mobile and social technologies, creating a secure environment where employees can use their preferred devices will become critical to retaining and attracting the highest calibre of staff.
A shift in the economic centre of gravity
Since 2009, European countries have focused on coping with the immediate challenges of the financial crisis, while economies in the East and Africa have benefitted, in contrast, from a growing consumer population. According to the US Department of Agriculture, Nigeria is expected to become a trillion dollar economy by 2030 , making emerging markets increasingly valuable to global economic growth. MNCs need to be ready to react to the changing market and that means having an agile enough infrastructure to expand or rationalise global operations anywhere around the world in a scalable and cost-effective way.
Profound changes in the workplace
At the same time as the advancement of other markets, we’re seeing profound changes in our own workplaces. There are now four generations working together and this will increase to five by 2020 . Each of these generations will have different expectations of, and attitudes towards, work and their careers.
The move to a connected world
The third macro trend we see is the move to a connected world. Technology is becoming an increasingly valuable ‘sixth sense’ for workers, providing them with valuable insight and intelligence to become more effective in their roles. Shop managers can get granular insight into the customers coming into their stores, medics can monitor patients even when the patient is bed-bound at home; and maintenance crews can minimise the amount of repair trips they need to make by receiving notification only when a machine actually needs mending. Successful companies will see the opportunity to arm staff with the technology and information to use their skills more effectively, creating a new era in business productivity, as well as the development of new products, services and business models.