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Observing emerging trends is an imperative concept for organizations that seek to benefit from foresight. The benefits will emanate from observation of world trends relating to technology, business and social factors. Organizations can acquire strategic advantage through a comprehensive probe into emerging trends and technologies. Additionally, the foresight may assist organizations in preventing future business risks associated with these trends and technologies. Emerging trends may assist organizations in the creation of ideas and identification of future opportunities. Studying the trends may help organizations to prepare for changes in conducting their activities and understanding the characteristics or specifics of the future industries.
The anticipated future trends include doubling of the world populace in 40 years time, increase in life expectancy of individuals in developed countries, establishment of knowledge-dependent global community, integration of the global economy, domination of economy and society by technology, augment in the rate of technological innovation and conversion of time into a precious commodity. In addition, several technologies are shaping the future and these include teleliving, autonomic computing, digital paper, alternative energy sources and digital ink. Therefore, the three learning outcomes are identification of trends and technologies with significant impact on future business and the way these trends and technologies can assist organizations prepare for the upcoming.
Lessening barriers for investment and trade abroad is a trend shaping the future. The possible business outcomes are reduced commodity prices, cutthroat competition over prices, market share and consumer satisfaction. Developed nations can take up international ventures and anticipated economic prosperity of the developing nations. Technological innovations may augment in order for companies to conduct business with little expenses and increase returns.
Teleliving is the utilization of information devices and services for instance the internet in undertaking life activities without any difficulties. The technological advancement will involve utilization of human-machine interactions to conduct activities comfortably for instance shopping, working, studying and overall living. Teleliving will reduce life struggles and make human existence effortless.
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