After studying this chapter you will be able to: Identify the trends that will have the greatest impact on future business, identify the technologies that will have the greatest impact on future business, explain why understanding trends and new technologies can help an organization prepare for the future. | BUSINESS PLUG-IN B12 Global Trends LEARNING OUTCOMES Identify the trends that will have the greatest impact on future business Identify the technologies that will have the greatest impact on future business Explain why understanding trends and new technologies can help an organization prepare for the future Introduction Obtaining a broad view of emerging trends and new technologies as they relate to business can help an organization anticipate and prepare for the future Organizations that can most effectively grasp the deep currents of technological evolution can use their knowledge to protect themselves against sudden and fatal technological obsolescence Reasons to Watch Trends Trend analysis – the examination of a trend to identify its nature, causes, speed of development, and potential impacts Trend monitoring – trends viewed as particularly important in a specific community, industry, or sector are carefully monitored, watched, and reported to key decision makers Trend | BUSINESS PLUG-IN B12 Global Trends LEARNING OUTCOMES Identify the trends that will have the greatest impact on future business Identify the technologies that will have the greatest impact on future business Explain why understanding trends and new technologies can help an organization prepare for the future Introduction Obtaining a broad view of emerging trends and new technologies as they relate to business can help an organization anticipate and prepare for the future Organizations that can most effectively grasp the deep currents of technological evolution can use their knowledge to protect themselves against sudden and fatal technological obsolescence Reasons to Watch Trends Trend analysis – the examination of a trend to identify its nature, causes, speed of development, and potential impacts Trend monitoring – trends viewed as particularly important in a specific community, industry, or sector are carefully monitored, watched, and reported to key decision makers Trend projection – when numerical data are available, a trend can be plotted to display changes through time and into the future Reasons to Watch Trends Computer simulation – complex systems can be modeled by means of mathematical equations and different scenarios can be run against the model to determine “what if” analysis Historical analysis – historical events are studied to anticipate the outcome of current developments Reasons to Watch Trends Trends Shaping Our Future The following trends have the potential to change our world, our future, and our lives: World’s population will double in the next 40 years People in developed countries are living longer Growth in information industries is creating a knowledge-dependent global society The global economy is becoming more integrated The economy and society are dominated by technology Pace of technological innovation is increasing Time is becoming one of the most precious commodities THE WORLD’S POPULATION WILL DOUBLE OVER .
