8 answers
Daisy
Student
Florida, New York
1
Question
Asked
4538 views
what are the emerging trends in the business industry ?
I'm 17 years old , after I graduate I would like to consider myself as a successful business person, therefore I want to know more , get experiences from other people stories before I land there.
8 answers
Cathy Lipscomb
Chief of Staff
1
Answer
Brookeville, Maryland
Updated
Cathy’s Answer
It's wonderful that you are thinking ahead to how you can be successful in your future career as you enter college. Starting to do research on these topics below, and others, will help inform you of the hot trends in the business world right now. See a few examples below. Good luck!
1. Artificial Intelligence (AI): AI is a field of computer science that's all about creating machines (like computers or robots) that can think and learn like humans.
Think of some of the things that come naturally to humans, like understanding language, recognizing objects or faces, solving problems, or learning from experience. For a long time, computers couldn't do these things. But with AI, we're trying to make machines that can.
Here are a couple of examples that might help illustrate:
Voice Assistants like Siri or Alexa are examples of AI. When you ask Siri a question, it understands your language, searches for the information, and then responds to you. All of these tasks involve AI.
Recommendation Systems: Ever wonder how Netflix or YouTube seems to know exactly what shows or videos to recommend you? That's AI at work. They analyze your past behavior and preferences to suggest content you might like.
Remember, AI isn't about creating machines that are exactly like humans. Instead, it's about getting machines to do tasks that would normally require human intelligence. This can help us in many areas of life, from entertainment and convenience to tackling complex problems in fields like healthcare, finance, and more.
2. Cyber Risk & Security: First, Cyber Risk refers to the potential harm that can come from using digital technology, like computers and the internet. This can be anything from getting a virus on your computer that slows it down, to someone stealing your personal information, like your social security number or credit card details.
Now, you might be wondering, how does this happen? Well, there are individuals and groups out there, often called hackers, who use their computer skills to try and access or harm other people's computers or data, usually for their own gain.
For example, imagine you have a digital "house" where you keep all your valuable information. Cyber risk would be like the chance of a burglar breaking into your house. The burglar could steal your belongings (like personal data), damage your house (like a computer virus), or even take control of your house (like taking over your computer system).
Second, Cyber Security, on the other hand, is like the locks, alarm systems, and fences you would use to protect your house from burglars. It's all the measures we take to protect our digital "houses" from these cyber risks.
This can include things like installing antivirus software (like a lock), using strong, unique passwords (like an alarm), or even educating ourselves about the types of scams out there so we don't fall for them (like knowing not to open the door to strangers).
In a world where we're doing more and more online, from shopping to banking to socializing, cyber risk is growing. But with good cyber security practices, we can each do our part to protect our digital "houses" and stay safe online.
3. Environmental, social, and governance (ESG): These are three broad categories or areas that people look at to measure the sustainability and ethical impact of a company or business.
Environmental refers to how a company's operations affect the natural world. This includes things like how much pollution it creates, how it manages waste, or what it's doing to reduce its carbon footprint.
Social refers to how a company treats people. This includes how it manages relationships with employees, suppliers, customers, and the communities where it operates. For example, does it pay fair wages? Does it ensure safe working conditions? Does it respect human rights?
Governance refers to how a company is run. It covers things like a company's leadership structure, employee relations and diversity, how it pays its executives, and whether it acts responsibly in its dealings.
When people talk about ESG, they're often talking about what a company is doing to improve in these areas. A company with strong ESG practices is one that takes care not only of its bottom line but also of the environment, its people, and its community. It's a way of doing business that's about more than just making money; it's about making a positive impact on the world.
1. Artificial Intelligence (AI): AI is a field of computer science that's all about creating machines (like computers or robots) that can think and learn like humans.
Think of some of the things that come naturally to humans, like understanding language, recognizing objects or faces, solving problems, or learning from experience. For a long time, computers couldn't do these things. But with AI, we're trying to make machines that can.
Here are a couple of examples that might help illustrate:
Voice Assistants like Siri or Alexa are examples of AI. When you ask Siri a question, it understands your language, searches for the information, and then responds to you. All of these tasks involve AI.
Recommendation Systems: Ever wonder how Netflix or YouTube seems to know exactly what shows or videos to recommend you? That's AI at work. They analyze your past behavior and preferences to suggest content you might like.
Remember, AI isn't about creating machines that are exactly like humans. Instead, it's about getting machines to do tasks that would normally require human intelligence. This can help us in many areas of life, from entertainment and convenience to tackling complex problems in fields like healthcare, finance, and more.
2. Cyber Risk & Security: First, Cyber Risk refers to the potential harm that can come from using digital technology, like computers and the internet. This can be anything from getting a virus on your computer that slows it down, to someone stealing your personal information, like your social security number or credit card details.
Now, you might be wondering, how does this happen? Well, there are individuals and groups out there, often called hackers, who use their computer skills to try and access or harm other people's computers or data, usually for their own gain.
For example, imagine you have a digital "house" where you keep all your valuable information. Cyber risk would be like the chance of a burglar breaking into your house. The burglar could steal your belongings (like personal data), damage your house (like a computer virus), or even take control of your house (like taking over your computer system).
Second, Cyber Security, on the other hand, is like the locks, alarm systems, and fences you would use to protect your house from burglars. It's all the measures we take to protect our digital "houses" from these cyber risks.
This can include things like installing antivirus software (like a lock), using strong, unique passwords (like an alarm), or even educating ourselves about the types of scams out there so we don't fall for them (like knowing not to open the door to strangers).
In a world where we're doing more and more online, from shopping to banking to socializing, cyber risk is growing. But with good cyber security practices, we can each do our part to protect our digital "houses" and stay safe online.
3. Environmental, social, and governance (ESG): These are three broad categories or areas that people look at to measure the sustainability and ethical impact of a company or business.
Environmental refers to how a company's operations affect the natural world. This includes things like how much pollution it creates, how it manages waste, or what it's doing to reduce its carbon footprint.
Social refers to how a company treats people. This includes how it manages relationships with employees, suppliers, customers, and the communities where it operates. For example, does it pay fair wages? Does it ensure safe working conditions? Does it respect human rights?
Governance refers to how a company is run. It covers things like a company's leadership structure, employee relations and diversity, how it pays its executives, and whether it acts responsibly in its dealings.
When people talk about ESG, they're often talking about what a company is doing to improve in these areas. A company with strong ESG practices is one that takes care not only of its bottom line but also of the environment, its people, and its community. It's a way of doing business that's about more than just making money; it's about making a positive impact on the world.
Joseph Larsen
General Manager
5
Answers
Beaverton, Oregon
Updated
Joseph’s Answer
As a young aspiring business person, it's great that you're looking ahead to understand the emerging trends in the business industry. Here are some key trends that are shaping the future of business:
1. Technological Advancements:
- Artificial Intelligence (AI): Rapid progress in AI is transforming how businesses process vast amounts of data and automate tasks.
- Augmented Reality (AR) and Virtual Reality (VR): These technologies are creating immersive experiences for customers and changing how products are designed and marketed.
2. Sustainability and Environmentalism:
- Businesses are increasingly adopting sustainable practices and focusing on environmental impact due to consumer demand and regulatory pressures.
3. Remote Work and Learning:
- The shift to remote work has opened up new possibilities for work arrangements and has implications for workplace culture and collaboration.
4. E-commerce Growth:
- Online shopping has seen a significant boost, and businesses are focusing on improving their digital storefronts and customer experience.
5. Personalization:
- Customization and personalization in marketing and product offerings are becoming more prevalent as businesses strive to meet individual customer needs.
6. Financial Technology (Fintech):
- Innovations in fintech are making financial transactions more accessible and convenient, leading to disruption in traditional banking and finance sectors.
7. New Employment Models:
- The traditional career paths are evolving, with more flexible and diverse work arrangements, including gig and freelance opportunities.
8. Social Media Marketing:
- Targeted and strategic use of social media platforms for marketing continues to be a powerful tool for businesses to reach their audience.
9. Employee Benefits and Well-being:
- Companies are getting creative with employee benefits to retain top talent and ensure a competitive advantage.
These trends reflect a dynamic and rapidly evolving business landscape. To prepare for a successful career, consider gaining experience through internships, following industry news, and networking with professionals. Remember, learning from others' stories and experiences can provide valuable insights and inspiration for your own journey. Keep an open mind, stay curious, and embrace continuous learning to adapt to the changing business world. Good luck with your future endeavors!
1. Technological Advancements:
- Artificial Intelligence (AI): Rapid progress in AI is transforming how businesses process vast amounts of data and automate tasks.
- Augmented Reality (AR) and Virtual Reality (VR): These technologies are creating immersive experiences for customers and changing how products are designed and marketed.
2. Sustainability and Environmentalism:
- Businesses are increasingly adopting sustainable practices and focusing on environmental impact due to consumer demand and regulatory pressures.
3. Remote Work and Learning:
- The shift to remote work has opened up new possibilities for work arrangements and has implications for workplace culture and collaboration.
4. E-commerce Growth:
- Online shopping has seen a significant boost, and businesses are focusing on improving their digital storefronts and customer experience.
5. Personalization:
- Customization and personalization in marketing and product offerings are becoming more prevalent as businesses strive to meet individual customer needs.
6. Financial Technology (Fintech):
- Innovations in fintech are making financial transactions more accessible and convenient, leading to disruption in traditional banking and finance sectors.
7. New Employment Models:
- The traditional career paths are evolving, with more flexible and diverse work arrangements, including gig and freelance opportunities.
8. Social Media Marketing:
- Targeted and strategic use of social media platforms for marketing continues to be a powerful tool for businesses to reach their audience.
9. Employee Benefits and Well-being:
- Companies are getting creative with employee benefits to retain top talent and ensure a competitive advantage.
These trends reflect a dynamic and rapidly evolving business landscape. To prepare for a successful career, consider gaining experience through internships, following industry news, and networking with professionals. Remember, learning from others' stories and experiences can provide valuable insights and inspiration for your own journey. Keep an open mind, stay curious, and embrace continuous learning to adapt to the changing business world. Good luck with your future endeavors!
Yuritza G Nino de Daall
Quality Assurance / Process Improvement / Project Manager
53
Answers
Flowery Branch, Georgia
Updated
Yuritza G’s Answer
Hello!!!! That's fantastic that you're already thinking about your future in the business world at such a young age! Understanding emerging trends is a crucial step in preparing yourself for success. Right now, there are several exciting trends shaping the business industry that you should keep an eye on. One major trend is the rise of e-commerce and digitalization. With more people shopping online than ever before, businesses are focusing on building robust online platforms and utilizing digital marketing strategies to reach customers. Another trend is the increasing emphasis on sustainability and corporate social responsibility. Consumers are becoming more conscious of the environmental and social impact of businesses, so companies are integrating sustainability practices into their operations to meet consumer demands and drive positive change.
Additionally, the gig economy is gaining momentum, offering opportunities for flexible work arrangements and entrepreneurship. Platforms like Uber, Airbnb, and Etsy enable individuals to monetize their skills and assets, providing alternative income streams and career paths. Lastly, advancements in technology, such as artificial intelligence, blockchain, and virtual reality, are transforming various industries and creating new business opportunities. By staying informed about these emerging trends and learning from the experiences of others, you'll be better equipped to navigate the ever-evolving landscape of the business world and carve out your path to success.
Best of luck!!!!
Additionally, the gig economy is gaining momentum, offering opportunities for flexible work arrangements and entrepreneurship. Platforms like Uber, Airbnb, and Etsy enable individuals to monetize their skills and assets, providing alternative income streams and career paths. Lastly, advancements in technology, such as artificial intelligence, blockchain, and virtual reality, are transforming various industries and creating new business opportunities. By staying informed about these emerging trends and learning from the experiences of others, you'll be better equipped to navigate the ever-evolving landscape of the business world and carve out your path to success.
Best of luck!!!!
Boris Fantini
Marketing Manager
4
Answers
Miami, Florida
Updated
Boris’s Answer
Hello Daisy, In the dynamic world of business, numerous emerging trends are paving the way for the future, opening up fresh avenues for growth and innovation. Here's some uplifting guidance on how to successfully ride these waves:
1. **The Rise of AI and ML**: Artificial Intelligence (AI) and Machine Learning (ML) are transforming the business landscape. Welcome these technologies with open arms to automate tasks, extract insights from data, and improve decision-making. Stay ahead of the curve by understanding AI and ML and their impact on your future work.
2. **Security Matters**: As we lean more on digital platforms, cybersecurity becomes increasingly vital. Businesses must shield themselves by setting up strong security protocols, carrying out frequent audits, and educating team members about potential hazards.
3. **Going Green**: Both consumers and businesses are putting sustainability at the forefront. Cultivate eco-friendly practices, focus on sustainable supply chain management, and consider the environmental footprint of your operations to cater to this rising demand.
4. **Achieving More with Less**: In the current competitive scene, efficiency is paramount. Businesses are looking to streamline their operations to boost productivity and cut down waste. Embrace lean methodologies and consider delegating non-core activities to make the most of your resources.
5. **Generational Blend**: The workforce is becoming a melting pot of different generations. Nurture an inclusive environment that appreciates the unique viewpoints and skills of each generation. Adapt your management and communication styles to inspire and energize a multigenerational team.
By staying informed, flexible, and gaining a deep understanding of these trends, you are sure to set yourself up for enduring success. Remember, the capacity to foresee and adjust to these changes is not just a benefit—it's a vital requirement for survival and triumph in the contemporary business world.
1. **The Rise of AI and ML**: Artificial Intelligence (AI) and Machine Learning (ML) are transforming the business landscape. Welcome these technologies with open arms to automate tasks, extract insights from data, and improve decision-making. Stay ahead of the curve by understanding AI and ML and their impact on your future work.
2. **Security Matters**: As we lean more on digital platforms, cybersecurity becomes increasingly vital. Businesses must shield themselves by setting up strong security protocols, carrying out frequent audits, and educating team members about potential hazards.
3. **Going Green**: Both consumers and businesses are putting sustainability at the forefront. Cultivate eco-friendly practices, focus on sustainable supply chain management, and consider the environmental footprint of your operations to cater to this rising demand.
4. **Achieving More with Less**: In the current competitive scene, efficiency is paramount. Businesses are looking to streamline their operations to boost productivity and cut down waste. Embrace lean methodologies and consider delegating non-core activities to make the most of your resources.
5. **Generational Blend**: The workforce is becoming a melting pot of different generations. Nurture an inclusive environment that appreciates the unique viewpoints and skills of each generation. Adapt your management and communication styles to inspire and energize a multigenerational team.
By staying informed, flexible, and gaining a deep understanding of these trends, you are sure to set yourself up for enduring success. Remember, the capacity to foresee and adjust to these changes is not just a benefit—it's a vital requirement for survival and triumph in the contemporary business world.
Raven Roth
Analyst
3
Answers
Fishers, Indiana
Updated
Raven’s Answer
Some of the trends I often see (aside from the ones already mentioned) are all about making it easier for your customers to do business with you and how businesses can do more with less. In general, customer expectations have gone way up (Just think, everyone expects 2 day delivery due to Amazon). Customers want to be able to find information easily, shop easily, get answers easily, and more. Also, new technology (such as AI) are all the rage for businesses to become more lean.
Bill D'Elia, MBA
Marketing- Strategy and Market Intelligence
7
Answers
Wake Forest
Updated
Bill’s Answer
The world is currently being revolutionized by a major trend - generative AI. Regardless of whether it's AI or another technology, the constant evolution of tech is set to reshape the world throughout your professional journey. Here are some nuggets of wisdom that can guide you to stay ahead, irrespective of the prevailing business trend:
1) Embrace research - With new technological trends hitting the market, understanding them can be a game-changer. It's not necessary to delve deep into the intricacies of how the technology functions, but it's beneficial to figure out how it can be relevant to your career or current position. This will enable you to harness its potential to enhance your performance.
2) Stay adaptable - Having spent two decades in the workforce, I've witnessed significant shifts in technology and society. The key to navigating these changes lies in maintaining an adaptable mindset. Instead of resisting these shifts, embrace them and take the initiative to drive change within your organization.
1) Embrace research - With new technological trends hitting the market, understanding them can be a game-changer. It's not necessary to delve deep into the intricacies of how the technology functions, but it's beneficial to figure out how it can be relevant to your career or current position. This will enable you to harness its potential to enhance your performance.
2) Stay adaptable - Having spent two decades in the workforce, I've witnessed significant shifts in technology and society. The key to navigating these changes lies in maintaining an adaptable mindset. Instead of resisting these shifts, embrace them and take the initiative to drive change within your organization.
Amy C.
Director of Strategic Communications
35
Answers
Oakland, California
Updated
Amy’s Answer
Good for you for thinking about this! Aside from looking up current trends, I recommend you develop a habit of lots of content consumption. Regularly read and listen to multiple sources (asking for a New York Times and/or Wall Street Journal subscription as a gift for the upcoming holidays might be a good idea) and find columnists whose style you like. Listening to podcasts like Pivot with Kara Swisher and Scott Galloway, NYT's The Daily, and other weekly podcasts will help you develop your OWN perspective on trends and help you think critically about what is going on in the world around you. Also, sign up for lots of newsletters in different verticals to absorb more detailed information, some suggestions are Politico Playbook (politics), STAT News (health/pharma), NYT The Morning (varied), Puck (has many options).
Good luck!
Good luck!
R. Joanna Bode
CPA, Auditor
3
Answers
Ridgewood, New Jersey
Updated
R. Joanna’s Answer
Fantastic question! In a rapidly developing and constantly changing business and economic environment, predicting with certainty what will be an attractive and lucrative career path in a long run is tricky. I personally believe that gone are the days when you could find one single career idea and have it work for you for a lifetime. This is actually a good thing. None of us has to limit ourselves to one iteration of what our futures could look like. As you are exploring different possibilities, it may be helpful to first dig deeper into what makes you happy, energized and satisfied, and steer your education choices in that general direction. With a good general base, in whatever field that you choose, you can easily identify and develop various specialties throughout your career, that will align the best with changing environment and business needs. Those different experiences will accumulate over time, complement each other, and give you agility to continue to progressively pursue more rewarding opportunities. In a long run, as long as you feel passionate about your career choices and approach the changes around you with curiosity constantly adapting to change, you will never find yourself in field/position that is outdated and not financially viable. If you look at career paths of successful people, you will often see that they involve many turns and changes and variety of "building blocks" and experiences that ultimately lead to something great. Good news is that not you do not have to figure out and plan out your entire life all at once! Other folks who responded to your post have had some great suggestions about the field you may want to try out as the base. Imagine yourself in those roles and see what seems to fit the most as "you" to come up with a field/direction which will give you the most satisfying base and then, stay tuned to developments and be agile in constantly refining and adjusting your path.
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