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Future Trend

In: Business and Management

Submitted By melodykris
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Key future trend that will shape the business in the next 5 years

➢ De-globalization trend will be more common co-existing with globalization ➢ The rise of Millennials creates both opportunities and challenges for marketing and internal management ➢ Business intelligence innovation will be more important for business success in the future characterized by internet, big data analysis, social network and e-commerce ➢ Sustainability and being good corporate citizen is another field that leaders will continuously focus on, especially in emerging markets.

Impact of these trends on the business corporation ➢ International Strategy: Business corporation will use more stringent environmental scanning process in expansion strategy. ➢ Operational Strategy: Key activities such as R&D and marketing will be personalized and specialized to meet the need of global consumers. ➢ Employees: Leaders need to have a better understanding on how to manage and mitigate generational and gender differences through communication, leadership and HRM ➢ Innovation: The speed and quality of business model modification through new technology will affect a company’s future competitiveness. ➢ CSR: Commitment to sustainability will improve corporation’s public image, but may not boost sales and profit increase immediately.

Thought of Changing organization ➢ Sensing disequilibrium - Top leaders sense the disequilibrium through recognizing external signs of future trends -Review internal signs such as people breakdown and process break down. -Big data analysis are helpful for information collection ➢ Framing the issues - Time Framing the issues: in 5 years and have time to plan in an orderly manner - Diagnosis: Leaders define area that must be changed and reasons for change - Broad understanding of what need to be done to restore equilibrium- people, strategy, structure

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