Top 4 Business Trends of 2019
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!
- Welcome Artificial Intelligence (AI) Wholeheartedly
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 them.
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.
The article was originally written by Adrita Bhattacharya, Rohit Jha & Krishnapriya Iyer (BBA’17) in the first edition of Valour Dubai.
