What trends are defining our future? How will they define your company’s future? What impact will they have on business, society and culture? How can you make sense of a world in motion that is often moving faster than you are?
At Smart Group Firm we define a megatrend as a new global development or product that impacts individuals, societies, businesses and economics. It has a complete transformative force and can also be destructive in how it enters a market. How it impacts you and your business is dependent on whether you can embrace the change or let it disrupt your business.
For example, technology has had both the power to advance or destroy a business and this is a megatrend. It has affected all of humanity in both a positive or negative way. Embracing our digital future will help your business if you look at the enormous opportunities that exist for entrepreneurs.
Entrepreneurship is still a megatrend that is happening as we look at the decline of jobs and the emergence of robotics, AI and the small business owner. Small business growth in countries that did not have access to the internet is now booming. Entrepreneurship is also evolving as we look at the amount of women business owners growing. Their new business mindset and ecosystems play an important role in this megatrend and its future outcomes.
A global market place fully connected in real time is a megatrend that has been one of the most favorable keys to the fast growth of any business and the death of poverty. It will continue to create talent shortages as companies look for ways to secure competitive advantages. The world economy will continue growing in the direction of interdependent trade and for your business to grow, you will have to embrace this megatrend.
Blockchain is the new kid on the block that will be disrupting and creating new systems of wealth. It will make things more secure and transparent as it continues to help systems become more specific. For example, Walmart is using blockchain to inventory what farms produce is coming from so that if there is a foodborne illness they can identify it faster without having to throw out food that is clean and available for market.
These trends are shifting business faster than anything else in history ever has. However, they are also shifting how business is done and the way business is done. It is a more diverse environment and there is a new learning curve to interacting in this environment.
Will your business embrace or be disrupted by these trends? You will benefit most when you analyze your business and look for opportunities you may not have noticed. Are you leaving money on the table and don’t know it?