No crystal ball needed, simply a panoramic lens, an awareness and openness and of course, the ability to understand and interpret events in context with an eye into the future. In order to plan your growth and benefit from cross-border opportunities, you may need to take into consideration the following trends affecting the world economy:
- Cheap. Good. It used to be that you had to choose two out of the three features. You can have it all!
- Social Media. It is happening every day and every minute as we witness revolutionary and diverse online action. The virtual gathering of crowds and armies will form before our eyes and draw us into their mission.
- Technology in the driver’s seat. In addition to social media that aims to connect beyond borders and beyond imagination, the technology of smart phones makes it possible. This is the tool that broke the rules and set new standards for technology developments, human interaction, how, where, and when we do business, socialize, decide on vacation venues, and so much more to come.
- China following in Japan’s footsteps. Some of us may remember when Japan used to “borrow” innovations and replicate them into a cheaper version. But China may take it one step further and improve on innovation to fi t their local market and other niche markets, as well as add features and create new products.
- Internet and beyond. It is becoming about real-time, instant, and constant. People want to know more, almost in an obsessive way, about what is going on in other parts of the country and the world.
- Managing complexity. More than ever, the top skill that everyone will need is managing complexity in a global economy and a global marketplace. The complexity of dealing with immense and rapid changes, the economic crisis, the job market, global competition, and new technologies will require a high level of complexity management.
- The megacity consumer. From China and India to Latin America and the EU, there is a new consumer demographic that is emerging and being driven by massive urban migration.