Thinking of starting your own business? With emerging technologies revolutionising the current economy, we are seeing a notable shift in the trends that transmute the sphere of business. What are the top 4 business trends we have seen this year, and how can you benefit from them? Let’s take a look!
Focus on Convenience
The crux of omnichannel marketing is to give consumers an indelible
experience in both the physical and digital worlds. One of the striking
features this concept is hinged on is convenience,
which today’s consumer is constantly on the hunt for. For instance, you book a
flight using an app on your phone. The app then reminds you when to check into
your flight via a notification. All you need to do now is tap on the notification,
and you are checked in automatically – it is literally convenience at your
fingertips! Omnichannel marketing is one trend which is certainly catching on.
Several renowned names in the corporate world have already implemented it in
some form and have gone into raptures about the sensation and impact it created
in the minds of the people. After all, functionality and simplicity bring
marvel to any business.
Want to implement this strategy for your upcoming venture? Just
reflect on why people are coming to your
business and take off from there!
Over the past few years, we have witnessed several technological
changes taking place around the world, and one of them which has altered our
way of living is Artificial Intelligence (AI). Technology and AI have
undisputedly taken the business world by storm. While we hear a lot of paranoia
about AI taking over and replacing humankind, experts predict AI to be a boon
instead of a bane. It would be a source of support to strengthen and enhance
the human productivity.
Businesses not implementing AI will sooner or later find themselves
lagging, eventually jeopardising the entire ecosystem.
Still don’t want to infuse
AI in any way? Think again!
Health is Wealth
Yes, you heard that right! Going by one of the oldest sayings,
health is undoubtedly the biggest and greatest wealth. Wondering what it has
got to do with business?
We often speak about getting the right mix of people with the best
competencies to help our business conquer new altitudes and seize new horizons.
People are one of the biggest assets any organisation could possess. What organisations
often do not realise is that for the very same people to perform exceedingly
well, an environment needs to be created where individuals can strike a perfect
equilibrium between professional and personal life. The best way to achieve
this is by focusing on health and wellness. Apart from guiding the workforce to
complete their tasks, organisations must ensure that employees are not attacked
by work pressure, which makes them victims of low morale, unproductivity, and
more. One of the best ways for businesses to attain this is by establishing a
space which would help them nurture their well-being. Wellness of employees is
the key factor which determines employee turnover in any organisation.
If you don’t believe this
and continue with an unhealthy approach, you’ll see people leave you soon!
Sustainability, Sustainability and Sustainability
The moment we are asked what the main goal of any business is, our
immediate response is always profit. While there is no doubt that profit is
indeed a factor that determines the health of any business, sustainability is
gaining immense recognition in the present day.
Earn profits and
contribute to the environment. Businesses who have
incorporated sustainability in the past have planted a deep and better
impression in the minds of distinct stakeholders by presenting themselves as
socially responsible. Even from a consumer point of view, people are more likely
to put their money in products which have an element of eco-friendliness in
So, let’s earn profits and go green!
About the Author:
Adrita Bhattacharya (BBA Sep’17) Adrita is a part of SP Jain’s BBA September intake 2017. She aspires to become a successful businesswoman and expand her father’s business in the future. She is an art enthusiast who loves discovering different cuisines and music genres. Adrita is also very proud of her extensive music playlist, and rightfully so!
Rohit Jha (BBA Sep’17) Rohit Jha is a part of the BBA September intake 2017. He is passionate about stocks, investments, eco-friendly businesses, and sustainable innovations. He believes in a future where environmentally benign products, innovations, and awareness will help reverse the damages to our environment. When he is not thinking about measures to save the world, Rohit likes reading books, listening to good music and watching classics.
Krishnapriya Iyer (BBA Sept’17) Krishnapriya Nair is currently pursuing the Bachelor of Business Administration program at SP Jain Global. She is a trained classical Indian dancer and a public speaker.