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New Trends In Business

Aug 17, 2007
Trend watching in business has come a long way from being a trend in itself to being a full time profession. Trend watching helps companies by preparing them to adopt new trends in their field of business. Trends change quickly without limitations, but the lack of knowledge and timing about changing trends can result in disaster if a company tries to make a foray into a business whose time has not yet come. Accurate judgment about a trend's longevity is important before taking the plunge and investing.

HOT TRENDS IN BUSINESS

How Do You Spot New And Hot Trends?

Don't restrict yourself to music, sports or the kind of stuff targeted only to the young. A newspaper or a TV commercial will conclusively prove to you whether or not something is trendy. Just by this discussion, you can tell that getting into music retailing is trendy. Buying new cars is a trend with youth of the day.

Outsourcing Business Processes:

Outsourcing of business processes is a big trend among large corporations. Simple but labor-intensive jobs are outsourced for increased production and cheap labor. If someone is looking for opportunities in this field, he has definitely hit a goldmine! Simple things like "voice to text" data conversion, data entry, engineering processes and content development are a few hot trends.

Corporate Restructuring:

The opening of trade barriers and the advent of the WTO (World Trade Organization) has led to a shift in the corporate mindset. Downsizing and relocating are new trends today. Corporations, in their quest to survive and grow (don't forget, growth is the mantra for survival), are also moving across borders and applying new management systems like Six Sigma for all-round quality improvement. By doing this, many companies have proven that it is indeed possible to save money and improve quality at the same time.

Intellectual Property Rights:

I have chosen this not because this is new but for its longevity. It will live longer as time goes on. One of the major ways of securing your future is by protecting your property, both physical as well as intellectual. With the advent of the Internet, this trend will only get stronger.

Incubation Of Start-Ups:

Who had heard of an incubator for a business some ten years ago? Start-ups that were just armed with great ideas, no money and no experience to get their business up and running were getting the money they needed as venture capitalists arrived on the scene. They invested and incubated small businesses until they grew big enough to fly on their own. The focus was undoubtedly on technology start-ups with an orientation towards product development.

This business trend was started by many current big names. (For example: Google and Sun Microsystems).

Six Sigma For Complete Quality:

The advent of Six Sigma methodology is a sun rising on the quality management horizon. This breakthrough methodology has already saved huge amounts of money for companies and customers by removing defects in every corner of production. Many have achieved what could have not been possible without implementing Six Sigma.
About the Author
Tony Jacowski is a quality analyst for The MBA Journal. Aveta Solution's Six Sigma Online offers online six sigma training and certification classes for lean six sigma, black belts, green belts, and yellow belts.
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