11 Best Business Opportunities by Industry
The article What Happens Next: The five crucibles of innovation that will shape the coming decade speaks to the growing global economy and the need for businesses to be innovative in the face of emerging markets and to recognize the opportunities the emerging markets around the world provide and simultaneously could threaten current operations.
The article 11 Best Business Opportunities by Industry highlight some of these prospects in growing emerging markets. 10 of the 11 industries indicated in the article address potential business in these global emerging markets and the business trends forecasted for each. (Apparently, pet care is limited to the U.S.) The focus of the article suggests these opportunities for new or start-up organizations, but again, as stated in the assignment, existing companies also need to look at and evaluate new business avenues and ventures.
These industries include residential construction, environmental consulting, E-commerce, megadata, mobile & social gaming, restaurants, internet publishing, water conservation, supply chain, and consulting.
As a side note:
Last week we discussed bringing the right people on board to improve the strategic planning process. I read this article and it reminded me that the best information one can gain in an organization is where the proverbial rubber meets the road. In my experience, oftentimes, the people on the front lines have the best information, but sometimes they do not realize it because they don’t know what to look for, or how to look at their work from a top–down perspective. Additionally, because of the company culture, or a boss who punishes messengers that deliver the bad news, they hesitate to bring this information to the spotlight. This article reminds leaders that in order to build a successful organizational environment it is important to cultivate a climate that encourages open communication from the top down. Specifically, the leader should:
L Let your staff know it's OK to ask questions.
· Communicate strategies in non-threatening ways.
· Raise awareness and energy levels.