One potential idea read that seems to remain constituted is that a shift has occurred in the global land scape. Most emerging organization have lost that cutting edge to remain focus on appropriate technologies for their industry. In Becker & Freeman, 2006, The McKinsey Quarterly: Going from Global Trends to Corporate Strategy says it best, “you can either ride the opportunity [or] paddle upstream against them.” The impact that statement has both a benefit to those companies keeping with the latest tech or be prepared to sink when they rely on reading markets reports, incorrectly, when analyzing global trends. This in most cases will have you behind padding much faster, upstream against the currents market trends.
Becker & Freeman, says that in order to prepare for the challenges that await, leaders must understand and read the portfolios correctly, to identify with the new wave of global forces (Becker & Freeman, pp. 18-19). While the appropriate responses can and will vary by those having a stake in the matter. Most business environments still must look for certain competitive factor, like an up and coming emerging industry, that has the ability to process greater amounts of information and interact much more efficient than that of a company that’s been around much longer.
The article, (Going From Global Trends to Corporate Strategy) mentions 10 trends that can have the biggest impact on a company in the coming 5 years.
1. Growing number of consumers in emerging economies
2. Shift of economic between international countries
3. Greater ease of obtaining information
4. Labor and talents in those markets
5. Constraints in Supply or usage of natural resource
6. Communications and how we better interact with each other
7. Shifting industry
8. Scientific approaches to business approaches
9. More intense social “backlash” against business
10. Large increase in growth in the public sector
Managers, business leaders and executives should keep their organizational strategies updated in face of continually evolving technologies (Manyika, et al., 2013). We read in the (Ricadela, 2011) how a once front runner in the PC world has to do away with that which got them to the top of the industry. XP computers are or will be very soon, a “thing of the past.” What’s more alarming is that they are expected to compete with rivals Apple, Samsung, and Google.
To close, technology can change the game front for businesses. As well, the likes of many in upper level management must keep an ever watchful eye out the potential benefits of emerging technologies with the risks they sometimes pose.
Becker, W. M., & Freeman, V. M. (2006, March). Going From Global Trends to Corporate Strategy. The McKinsey Quarterly, 3, 17-27.
Manyika, J., Chui, M., Bughin, J., Dobbs, R., Bisson, P., & Marrs, A. (2013).
Disruptive technologies: Advances that will transform life, business, and the global economy. McKinsey Global Institute. Retrieved May 29, 2013, from http://www.mckinsey.com/insights/business_technology/disruptive_technologies
Ricadela, A. (2011). Dell: The Erstwhile PC King Aims for the Middle.
San Francisco: Bloomberg Business.