Business Trends in Practice

Business Trends in Practice
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Stay one step ahead of the competition with this expert review of the most impactful and disruptive business trends coming down the pike  Far from slowing down, change and transformation in business seems to come only at a more and more furious rate. The last ten years alone have seen the introduction of groundbreaking new trends that pose new opportunities and challenges for leaders in all industries.  In  Business Trends in Practice: The 25+ Trends That Are Redefining Organizations,  best-selling business author and strategist Bernard Marr breaks down the social and technological forces underlying these rapidly advancing changes and the impact of those changes on key industries.  Critical consumer trends just emerging today—or poised to emerge tomorrow—are discussed, as are strategies for rethinking your organisation’s product and service delivery. The book also explores: Crucial business operations trends that are changing the way companies conduct themselves in the 21st century The practical insights and takeaways you can glean from technological and social innovation when you cut through the hype Disruptive new technologies, including AI, robotic and business process automation, remote work, as well as social and environmental sustainability trends  Business Trends in Practice: The 25+ Trends That Are Redefining Organizations  is a must-read resource for executives, business leaders and managers, and business development and innovation leads trying to get – and stay – on top of changes and disruptions that are right around the corner.

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Бернард Марр. Business Trends in Practice

Table of Contents

Guide

Pages

BUSINESS TRENDS IN PRACTICE. THE 25+ TRENDS THAT ARE REDEFINING ORGANIZATIONS

PART I INTRODUCTION: RIDING THE WAVE OF TRANSFORMATION

CHAPTER 1 THE FIVE GLOBAL SHIFTS THAT WILL SHAPE THE ORGANIZATIONS OF THE FUTURE

Trend 1: Our Changing Relationship with Our Planet

Trend 2: Shifts in Economic and Political Power

Trend 3: Growing Divergence and Polarization

Trend 4: Shifting Demographics

Trend 5: Social, Cultural, and Workplace Shifts

PRACTICAL LESSONS

Notes

CHAPTER 2 THE TEN TECH MEGA-TRENDS EVERY BUSINESS LEADER SHOULD KNOW ABOUT

No Ordinary Industrial Revolution

Trend 1: Ubiquitous Computing

Advances in computing power

Quantum computing

Storing and processing data

Trend 2: Connected and Smart Everything

Trend 3: The Datafication of Our World

Trend 4: Artificial Intelligence

Trend 5: Extended Reality

Trend 6: Digital Trust

Trend 7: 3D Printing

Trend 8: Gene Editing and Synthetic Biology

Trend 9: Nanotechnology and Materials Science

Trend 10: New Energy Solutions

PRACTICAL LESSONS

Notes

PART II RETHINKING KEY SECTORS

CHAPTER 3 HOW WE GENERATE ENERGY: The Three Trends Transforming the Energy Sector

Trend 1: The Decarbonization of Energy

The case for renewables

Overcoming the challenges with renewable energy

Investing in other energy alternatives

Trend 2: The Decentralization of Energy

The case for decentralized networks

Overcoming the challenges

Trend 3: The Digitization of Energy

What do we mean by digital transformation?

Overcoming the challenges

PRACTICAL LESSONS

Notes

CHAPTER 4 HOW WE STAY HEALTHY: The Seven Trends Shaping Healthcare

Trend 1: Preventative Medicine

Trend 2: Democratized Healthcare

Trend 3: Personalized, Precision Healthcare

Trend 4: Digitized Healthcare

Trend 5: Improving the Human Body

Trend 6: Robots and Nanobots

Trend 7: The Datafication of Medicine

PRACTICAL LESSONS

Notes

CHAPTER 5 HOW WE LEARN: The Two Main Shifts in Education

Shift 1: Rethinking What We Teach

What skills will students need to learn?

Encouraging lifelong learning

Shift 2: Rethinking How We Teach

More digitized content

More personalized, self-paced, and self-directed learning

More collaborative, project-based learning

More bite-sized learning

More immersive learning

PRACTICAL LESSONS

Notes

CHAPTER 6 HOW WE FEED OURSELVES: The Two Key Innovations Needed to Transform Agriculture

Innovation 1: Reimagining Our Current Farming and Agriculture Methods

More automation in farming

Precision farming

Blockchain in farming

More localized, urban farming

Genetic engineering in farming

Innovation 2: Finding New Ways to Create Food (Especially Meat) in the Future

Cultured and plant-based meat

3D-printed food

PRACTICAL LESSONS

Notes

CHAPTER 7 HOW WE MAKE AND BUILD THINGS: Eleven Trends to Watch Across Manufacturing and Construction

Seven Major Trends in Manufacturing

Trend 1: The Industrial Internet of Things (IIoT)

Trend 2: Predictive Maintenance

Trend 3: Digital Twins

Trend 4: Automation and Dark Factories

Trend 5: Robots and Cobots

Trend 6: 3D Printing and Additive Manufacturing

Trend 7: Smart and More Sustainable Products

Four Major Trends in Buildings and Construction

Trend 1: The Desire for Greener, Smarter Buildings

Trend 2: Modular and Off-Site Construction

Trend 3: Replacing Traditional Concrete and Steel

Trend 4: Technology Adoption in Construction

PRACTICAL LESSONS

Notes

CHAPTER 8 HOW WE MOVE PEOPLE AND GOODS: The Three Trends Revolutionizing Transportation

Trend 1: Electrification

The electric car revolution

Greening up other modes of transport

Creating entirely new modes of electric transport: Introducing Hyperloop

Trend 2: Autonomous Vehicles

Autonomous cars

Autonomous ships and drones

Solutions to the “last mile” problem?

Trend 3: The Servitization of Mobility

PRACTICAL LESSONS

Notes

CHAPTER 9 HOW WE LOOK AFTER OUR MONEY: The Four Shifts That Will Shape the Financial Sector

Shift 1: The Future of Money May Be Very Different Than Today

Shift 2: The Increasing Digitization of Money and Financial Services

Shift 3: The Rise of Finance Apps and Nontraditional Providers

Shift 4: Consumer Expectations for more Personalized, Intelligent Services

PRACTICAL LESSONS

Notes

PART III RETHINKING WHAT BUSINESSES OFFER

CHAPTER 10 CHANNEL DIGITIZATION AND EXPANSION: The Move from Physical to Digital/Hybrid Products and Channels

The App (and Super App) Revolution

Starbucks

Spin Mobility App

Healthcare and wellness apps

The rise of the “super app”

The app is the business

Creating a Seamless Omnichannel Experience

Starbucks (again)

Timberland

Disney

Domino's

Wild Turkey whiskey tasting

Creating New Digital-Only Products

Rocket League

Digital-only clothing

Digital art

Synthetic media

PRACTICAL LESSONS

Notes

CHAPTER 11 COGNIFYING PRODUCTS AND SERVICES: Smarter Products, Smarter Services

Smarter Products

Smart home thermostats

Smart cars

Smart robot vacuum

AI-enabled coffee machines

Smart fridges

Smart light bulbs

Smart, autonomous ships

Intelligent dog doors

Robotic lawn mowers

Smart flying security cameras for your home

Smarter Services

Google maps

AI-driven social media content from TikTok

Self-healing, autonomous database by oracle

AI-powered meeting notes

AI chatbot for help with domestic abuse

Merging Smart Products and Services

PRACTICAL LESSONS

Notes

CHAPTER 12 RIGHT TIME, RIGHT PLACE, RIGHT FOR YOU: The Rise of Micro-Moments and Personalization

The Speed of Now

Introducing micro-moments

From mass production to mass personalization

Inspiring Examples of Personalized Services

A quick look at recommendation engines

Personalized news and video feeds from ByteDance

Facebook's highly targeted ads

Pull&Bear: How to pull off a personalized experience without data

Vivino wine app: The Netflix for wine

Personalized insurance

Personalization in Products

Nike's customized sneakers

Bespoke beauty and skincare products

Mackmyra reserve: Your own personal whiskey

PRACTICAL LESSONS

Notes

CHAPTER 13 SUBSCRIPTION AND SERVITIZATION: The As-a-Service Revolution

Streaming/Content Services

Where Apple leads, others will follow

The evolution of Amazon Prime

Technology as a Service

Software and cloud computing as a service

AI as a Service (AIaaS)

Robots on subscription?

Subscription Boxes

Hunt a Killer Mystery Box Subscription

Flex: Feminine Hygiene Subscription

Blacksocks: Sock Subscriptions for the Busy Businessman

Stitch Fix: Intelligent fashion

YCloset: Clothing rentals in China

Birchbox Beauty Boxes

Craft Gin Club: “Mother's Ruin” Direct to Your Door Every Month

Dollar Shave Club: Cheaper Grooming Products on Subscription

Products with an Add-on Subscripton

Google Nest Aware: One Subscription for All Your Nest Home Security Devices

Peloton: Fitness Hardware and Subscriptions

PRACTICAL LESSONS

Notes

CHAPTER 14 CUTTING OUT THE MIDDLEMEN: How Brands Are Going Direct to the Consumer

Delving into the Direct-to-Consumer Trend

DTC Products in Action

Tesla: Buying a car “the Amazon Way”

Warby Parker and dtc eyewear

BarkBox: Pet treats on subscription

Dtc mattresses

Disney goes DTC

Gymshark and Nike: dtc sportswear

DTC beauty products with L'Oréal

The Blockchain Threat to Middlemen Service Providers

The Contradiction That Is Reintermediation

PRACTICAL LESSONS

Notes

CHAPTER 15 FROM B2C TO “ALL TO ALL”: The Rise of Platforms, the Sharing Economy, and Crowdsourcing

The Platform Business Model

What is a platform business?

Examples of platform businesses

Winngie: A novel way to exchange money when abroad

Instacart: Connecting customers, grocery stores, and workers

Github: The platform for software engineers

The Sharing Economy Is Here to Stay

Justpark: Matching drivers with parking spaces

Zipcar: Moving from owning cars to sharing cars

Platforms Versus Blockchain

Tapping into the Crowd

Crowdsourcing product ideas

Crowdsourcing skills and services

PRACTICAL LESSONS

Notes

CHAPTER 16 MORE IMMERSIVE EXPERIENCES: How Brands Are Wowing Customers with Memorable Experiences

Introducing the Experience Economy

Inspiring Examples of Tangible and Digital Experiences

John Lewis: Fancy having the store to yourself?

Gucci: Taking experiential retail to a whole new level

Farfetch and Browns: Blending luxury retail and technology

Primark: Creating a theatrical retail experience

Vans: The House of Vans, London destination

Formula E Ghost Racing: Immersing sports fans

Creating immersive experiences with AR and VR

In the Future, XR Could Create Even More Immersive Experiences

PRACTICAL LESSONS

Notes

CHAPTER 17 CONSCIOUS CONSUMPTION: Consumer Demand for Sustainable, Responsible Products

The Rise of Conscious Consumption

Conscious Food Consumption

Organic options

Sustainable seafood

Plant-based meats and dairy

The palm oil backlash

Eco-Friendly Examples from Other Industries

Electric vehicles

Sustainable packaging

Eco holidays

Sustainable fashion

Reducing plastic in cleaning and toiletry products

Turning food waste into biodegradable plastics

PRACTICAL LESSONS

Notes

PART IV RETHINKING HOW BUSINESSES ARE RUN

CHAPTER 18 SUSTAINABLE AND RESILIENT OPERATIONS: Building a Stronger, More Responsible Company

Rethinking Resilience for the Fourth Industrial Revolution

What Does Resilience Mean in an Age of Regular Disruption?

Cyber-resilience and the next pandemic

Becoming a More Sustainable Business

Decarbonizing the supply chain

How any business can become more eco-friendly

The benefits of building a more sustainable business

Sustainable Operations in Practice

Tony's Chocolonely: Addressing environmental and social impact

Patagonia: Sustainable clothing

General Mills: Recycling waste

Estrella: Making aluminum cans more sustainable

Mackmyra: Distilling whiskey the sustainable way

Yum! Brands: Creating a clear pathway to reducing packaging waste

Orsted: Carbon-neutral energy generation

Seven Bro7hers: One company's trash is another company's beer

Hershey: Working to end deforestation

Protix: Upgrading food waste to make insect protein

PRACTICAL LESSONS

Notes

CHAPTER 19 FINDING THE BALANCE BETWEEN HUMANS AND INTELLIGENT COBOTS: The Blended Workforces of the Future

The Amazing Capabilities of AIs and Intelligent Robots

Examples of Automation in Practice

Ericsson's “Smart Factory of the Future”

JD.com: The fully automated warehouse

Ocado: More tech company than supermarket

Apple's recycing rebot

Collaborative robots (cobots) that work alongside humans

The Future of Work: What Will Happen to All the Human Workers?

Displacement of human jobs

Augmentation of human jobs

The addition of new human jobs

Reskilling Employees for the Fourth Industrial Revolution

PRACTICAL LESSONS

Notes

CHAPTER 20 FINDING AND KEEPING TALENT: The Shifting Talent Pool and Employee Experience

Finding and Attracting Talent in the Fourth Industrial Revolution

Tapping into a global talent pool

Building an Inclusive Workforce

Improving the Employee Experience

Having the Right Organizational Culture in Place

Having the right technology in place

Having an attractive physical environment

PRACTICAL LESSONS

Notes

CHAPTER 21 ORGANIZING TO WIN: Flatter, More Agile Organizations

From Hierarchical to Flatter, More Agile Organizational Structures

The modern, flatter organization

The importance of speed and innovation

Smaller, more dynamic teams – and the link to pizzas

Managing Performance in Flatter Organizations

The modern, more supportive way to manage performance

So is this the end of KPIs?

The New Hybrid Work Environment

What is hybrid working?

Overcoming the challenges of hybrid working

PRACTICAL LESSONS

Notes

CHAPTER 22 AUTHENTICITY: Why Brands and Leaders Need to Keep It Real

Anatomy of an Authentic Business

But what is an authentic business?

Reliability

Respectfulness

Realness

Transparency

Taking a Stance

Examples of authentic, trusted, and transparent brands

Adidas

LEGO

GitLab

Patagonia

Netflix

Authentic Leadership

What makes someone authentic?

Leading with Empathy

Being Honest

Having a Strong Ethical and Moral Compass

Being Self-Aware

Bringing Your Whole Self (Including on Social Media)

Examples of authentic leaders

Steve Jobs

Oprah Winfrey

Dan Schulman

Michele Romanow

PRACTICAL LESSONS

Notes

CHAPTER 23 PURPOSEFUL BUSINESS: Why Does Your Business Exist?

Why Purpose Matters

Finding (And Living) Your Purpose

Start with the “why”

Turning your purpose into action

Compelling Examples of Purposeful Businesses

Novo Nordisk

The Body Shop

Timberland

Dove

Warby Parker

The Cheeky Panda

PRACTICAL LESSONS

Notes

CHAPTER 24 CO-OPETITION AND INTEGRATION: A New Age of Integrated Collaboration

Supply chain integration

Data Integration

From me to we: The rise of multiparty systems

APIs

Electronic data interchange (EDI)

Machines as customers

Co-Opetition: Co-Operating with Competitors

Automotive alliances

Vaccine development

Banking and tech

PRACTICAL LESSONS

Notes

CHAPTER 25 NEW FORMS OF FUNDING: The Democratization of Business Funding

Tapping into the Crowd with Crowdfunding

Skipping the IPO Process: Initial Coin Offerings (ICOS)

The Tokenization of Assets

Creating a Special Purpose Acquisition Company (SPAC)

PRACTICAL LESSONS

Notes

PART V WHERE TO GO FROM HERE

CHAPTER 26 FINAL WORDS: Four Key Takeaways for Business Leaders

This Isn't a Pick-and-Mix Buffet

Speed and Adaptability Are Key

Remember the Human Side

Let's Invest in a Future We Want to Live in

Share Your Thoughts with Me

Notes

ACKNOWLEDGMENTS

ABOUT THE AUTHOR

INDEX

WILEY END USER LICENSE AGREEMENT

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BERNARD MARR

That, in a nutshell, is what sparked the idea for this book. I wanted to provide business leaders with an accessible overview of the key trends that are transforming the way we do business. In my advisory work with companies and government organizations, I noticed that the same transformative forces seem to be coming up again and again, irrespective of the size of the organization or the industry in which they operate. This book pulls those insights together in one place. My goal is to give business leaders a chance to learn from other industries and build a business that is more successful, more resilient, and better equipped for the changes coming our way. In short, this book is designed to help you ride the wave of transformation.

.....

XR is primarily known for immersive gaming, but it is finding very real, very practical uses across a wide range of industries – often being used to create more immersive, personalized experiences for customers. House buyers, for example, can go on immersive virtual house tours. Customers can try out products virtually (for example, by overlaying a new style of glasses over their face or digitally placing a new sofa in their living room). And sports fans can immerse themselves in the stadium experience from the comfort of their home. The list of exciting new XR applications goes on. But as well as giving organizations new ways to engage with customers and users, XR also brings exciting new opportunities to improve business processes, including training, education, and hiring. For example, trainees can learn in more immersive environments, with information being visualized in much more exciting ways.

The key takeaway here is that XR can help your business turn information into experiences. If you think about it, this has the potential to change pretty much everything, from the way we consume information to the way we interact with others. In the future, then, XR could extend to all aspects of life as we know it – to the point where we could potentially transform the world around us into something personalized, using special glasses, headsets, or even (looking further afield) contact lenses and implants. I believe our experience of the world will increasingly take place in this blurred space between the real world and the digital one. If you think of the time people spend on social media, crafting their online persona, it's clear the line between the digital world and the real one has already become pretty porous. I'm certain XR is going to accelerate this.

.....

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