Advanced technologies and their adoption are the traditional business models. Highly qualified executives need to assume strategically, how to prepare the organizations in this challenging new environment. The list of business trends is as follows:
- Joining the social matrix
- Deployment of the internet
- Offering services
- Automating knowledge
- Engaging the billion digital citizens
- Charting experiences
- Personalization and Simplification
- Selling and buying commerce leaps ahead
- Transforming government (care, health, and education)
About 2.5 years ago, eight tech-enabled business trends were described, reshaping the strategy across a large group of industries. It was described that how the effects of new internet technologies, causes fast and pervasive digital communications, increased computing power, and how they were the new ways to manage the talent and assets, and also the new thinking about structures of the organization.
Till now, the tech landscape is evolving continuously in the environment. Facebook, in just 2 years, has increased to the network and touches above 500 million users. About four billion people all over the world, use cell phones. For 450 million of them, the Web is a wholly mobile experience. The information technologies have been deployed in various ways, changing with time, such as cloud computing and virtualization reallocates the usage patterns and technology costs, while creating ways for the users to consume best goods or services. These ways allow the enterprises and entrepreneurs to structure the best business models. This dizzying change has also affected the original trends, continued to spread in unexpected ways, thus, increased up to ten.
The fast shifting technology environment has raised a serious question for executives: how to make their companies capitalize while the transformation is in the process. Exploitation of these trends does not fall to individual executives, as change increases, the odd ones rise significantly. For experienced executives, understanding of all the trends is not enough. They need to think about adapt management as well as organizational structure in order to meet the new demands.
First six trends can be applied to an enterprise. It is important to identify the implications of problems faced by business units and functional groups. The impact of them, networks as organizations, the internet of things, wiring for the world, distributed co-creation, deeper collaboration, experimentation, will vary in different parts and should be managed. The local accountability will not be enough. Some powerful implications will cut across the organizational boundaries. So, seniors must catalyze the collisions in different fields of the company.
Three of these trends, offering services, business models, and innovation of the pyramid, predict long-term changes in the environment. They also require shifts in strategy. Executives, CEOs, and other senior teams are responsible for minimizing these issues, or it will become difficult to make enterprise insights and interdisciplinary that is required to develop these trends. Once opportunities start rising, seniors also need to transform their companies into laboratories that are capable of testing as well as learning quickly and then expand their success more rapidly.
The last one use technology to generate societal benefits and improve communities by linking citizens. The trend also requires concentration of senior executives as well as leaders in government/non-government organizations and citizens.