Chapter 7 Global Trends and Emerging Technologies
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 monitor...
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.
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.
Trends have the potential to change our world, our future, and our lives: ✅World's population will
double in the next 40 years
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
World's population will double in the next 40 years ✅Potential business impact
1. Global agriculture will be required to supply as much food as has been produced during all of human
history to meet needs over the next 40 years
2. Developed nations will find that retirees will have to remain on the job to remain competitive
, 3. Developed nations will begin to increase immigration limits
People in developed countries are living longer ✅Potential business impact:
1. Global demand for elderly products and services will grow quickly in the coming decades
2. The cost of healthcare is destined to skyrocket
3. Pharmaceutical companies will be pushed for advances in geriatric medicine
Growth in information industries is creating a knowledge-dependent global society ✅Potential business
impact
1. Top managers must be computer-literate to retain their jobs and achieve success
2. Knowledge workers are generally higher paid and their proliferation is increasing overall prosperity
3. Entry-level and unskilled positions are requiring a growing level of education
4. Information now flows from front-office workers to higher management for analysis
5. Downsizing, restructuring, reorganization, outsourcing, and layoffs will continue
The global economy is becoming more integrated ✅Potential business impact
1. Demand for personnel in distant countries will increase the need for foreign language training and
employee incentives suited to other cultures
2. E-business and the Internet will reduce the cost of doing business
3. The Internet will allow small companies to compete with worldwide giants with relatively little
investment
The economy and society are dominated by technology ✅Potential business impact
1. New technologies provide dozens of new opportunities to create businesses and jobs
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