{"id":8157,"date":"2019-12-16T13:47:36","date_gmt":"2019-12-16T13:47:36","guid":{"rendered":"http:\/\/faisalhoque.com\/?p=8157"},"modified":"2019-12-16T13:47:36","modified_gmt":"2019-12-16T13:47:36","slug":"6-trends-will-shape-business-future-prepare","status":"publish","type":"post","link":"https:\/\/staging.frameroinfotech.com\/fh\/6-trends-will-shape-business-future-prepare\/","title":{"rendered":"The 6 Trends That Will Shape Your Business In The Future \u2014 And How To Prepare For Them"},"content":{"rendered":"<p><img decoding=\"async\" class=\"alignnone size-medium wp-image-8159\" src=\"http:\/\/faisalhoque.com\/wp-content\/uploads\/2018\/02\/BI_blue_background_horizontal-768x134-300x52.png\" alt=\"\" width=\"300\" height=\"52\" \/><\/p>\n<ul>\n<li><strong>One the greatest challenges for leaders today is keeping up with the constantly changing business landscape.<\/strong><\/li>\n<li><strong>In this post, serial entrepreneur Faisal Hoque flags the trends that professionals in every field will have to adjust to, and how to do it.<\/strong><\/li>\n<li><strong>Leaders have to think digital, embrace design thinking, and read every day to keep up.<\/strong><\/li>\n<\/ul>\n<p><strong>BY\u00a0<a href=\"http:\/\/www.faisalhoque.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">FAISAL HOQUE<\/a><\/strong><\/p>\n<p>The modern economy \u2014 local, domestic, and global \u2014 operates in a state of accelerating change, driven by increasing and changing competition.<\/p>\n<p>This is due in part to easier market entry created by advances in technology and communications infrastructure, restructuring of product sourcing arrangements, the growing availability and changing costs of global labor pools, the continuous restructuring of capital markets, and the emergence of new economic powers.<\/p>\n<p>One of the greatest challenges that businesses leaders face is the ability to quickly respond to this constantly accelerating change and to act as the catalyst of organizational adaptation.<\/p>\n<div id=\"ad-354517\" class=\"ad ad-wrapper postload in-post\" data-bi-ad=\"\" data-force=\"\" data-type=\"ad\" data-adunit=\"desktop\/strategy\/careers\/post\" data-pagetype=\"post\" data-tag=\"skills,learning,entrepreneurship\" data-pos=\"atf\" data-authors=\"faisal-hoque\" data-views=\"\" data-region=\"Desktop In Post Ad\" data-responsive=\"[{&quot;browserLimit&quot;:[0,0],&quot;slotSize&quot;:[[300,250],&quot;fluid&quot;]},{&quot;browserLimit&quot;:[600,0],&quot;slotSize&quot;:[[300,250],&quot;fluid&quot;]},{&quot;browserLimit&quot;:[1260,0],&quot;slotSize&quot;:[[728,90],&quot;fluid&quot;]},{&quot;location&quot;:&quot;inline&quot;}]\" data-url=\"skills-you-need-for-future-career-success-2018-2\" data-google-query-id=\"CIWMlNqvpdkCFQG2yAodlZAOzg\"><\/div>\n<p>Whether you\u2019re in a leadership role, focused on innovation, running your own business, or all of the above, here are six traits and trends that will impact your work today and for years to come:<\/p>\n<h3>1. Reading a lot will keep you open to change<\/h3>\n<p>Bill Gates, Barack Obama, and Warren Buffett all put ample time on their iPads and\/or with physical books and publications, and you should, too.<\/p>\n<p>Reading can force our minds to attract, retain, and cultivate new knowledge and skills. Success can quickly inflate egos and cause isolation of leadership, but reading can help break down those walls. Leaders who read can get into continuous learning loops that allow them be more empathetic and collaborative, rather than commanding and controlling.<\/p>\n<h3>2. Remove \u2018end points\u2019 around innovation<\/h3>\n<p>When was the last time your cable company introduced a groundbreaking, innovative product? Or your electric company rolled out a pioneering new service? The answer is probably \u201cnever,\u201d and that\u2019s because competition spawns innovation.<\/p>\n<p>In the absence of a competitor knocking on customers\u2019 doors, trying to sell them a newer, better, and more efficient product, the drive to innovate dwindles.<\/p>\n<p>Innovation includes everything\u2014how you take your product to market, how you serve your customer, and how you come up with effective pricing. All of these activities go well beyond the very narrow \u201ccocktail napkin\u201d approach to innovation. By adopting this mindset, companies can become more competitive, customer-friendly, and profitable. The latter is a particularly important point in industries where thin margins and higher levels of competition are challenging firms to find more innovative ways to generate revenues.<\/p>\n<h3>3. Think, act, and do digital<\/h3>\n<p>Technological transformations will continue to reshape the way the business world is organized. As information becomes more plentiful and less centralized, more organizations are likely to decentralize, too, in order to respond swiftly to it all.<\/p>\n<p>As I wrote in a recent <a href=\"https:\/\/www.fastcompany.com\/3066740\/four-questions-to-turn-everyone-in-your-company-into-a-futurist\">article<\/a>, we are being inundated by a new wave of challenges and opportunities as the planet becomes increasingly connected.<\/p>\n<p>Today technologies have wildly different fates:<\/p>\n<ul>\n<li>Anything that can be digitized will be<\/li>\n<li>Anything that can go wireless will<\/li>\n<li>Anything that can get smaller will<\/li>\n<li>Information will move more freely<\/li>\n<\/ul>\n<p>Digital transformation can be defined as a process whereby an organization shifts their business models, processes, and organizational culture with digital technologies to adapt to changing customer behaviors.<\/p>\n<h3>4. Apply AI and machine learning<\/h3>\n<p>Nebulous and complicated by nature, AI and the movements it fuels all require a highly specialized skill set. For it to work, people must connect the dots between AI and how it can be effectively applied in the private or public sector.<\/p>\n<p>That\u2019s not always easy to do\u200a\u2014\u200aand the very notion of it may be scary to some who think that the day when machines \u201ctake over\u201d isn\u2019t that far off\u200a\u2014\u200abut the positive results are already evident.<\/p>\n<p>As AI and machine learning continue to evolve and mature, it\u2019s time for every company to start experimenting with the many ways these technologies can help organizations work smarter, better, and faster.<\/p>\n<h3>5. Embrace design thinking<\/h3>\n<p>Contrary to the popular belief that design thinking is only used for a new product or service, existing business processes greatly benefit from design thinking. They usually need to be reinvented the most.<\/p>\n<p>Although there are many models and frameworks available for applying design thinking, let\u2019s establish some basic concepts:<\/p>\n<ul>\n<li><strong>Research<\/strong>\u200a\u2014\u200aDo extensive cross-industry market research, both qualitative and quantitative, to understand current and changing customer behavior.<\/li>\n<li><strong>Define<\/strong>\u200a\u2014\u200aDefine the problem that needs solving.<\/li>\n<li><strong>Ideate\u200a<\/strong>\u2014\u200aConsider many options from many perspectives, disciplines, and sources. Design thinking requires multiple iterations of idea generation before picking the ultimate winning idea.<\/li>\n<li><strong>Execute<\/strong>\u200a\u2014\u200aDevelop rapid prototypes to gather feedback from stakeholders. Once the final solution is refined and approved, an execution plan is then produced to move forward.<\/li>\n<\/ul>\n<p>Design thinking is not just about creativity, as complex problem solving requires a collaborative approach incorporating all parts of an organization\u200a\u2014\u200afrom internal resources, to partners, and customers.<\/p>\n<h3>6. Remember, empathy always pays dividends<\/h3>\n<p>For communication to get through on all sides, we have to be clear about what we want from each other. As a leader, I try especially hard to remain approachable and keep an open dialogue flowing. It\u2019s difficult to keep everyone motivated, asking questions, and sharing their concerns when a lot is changing. But getting it right just means doubling down on the type of empathy leaders love to talk about under much steadier conditions.<\/p>\n<p>This means not just clearly articulating our message but also listening actively\u2014without bias or judgment and with a real willingness to consider different perspectives. It\u2019s about trading messages respectfully and accurately, not just <em>delivering<\/em> them.<\/p>\n<p>Leaders may feel their job is to reassure their teams\u2014to talk more than they\u2019re used to. But I\u2019ve found listening to be even more important. When I\u2019m actively listening, I\u2019ll hear genuine concerns and clear a space for talking level-headedly about how to cope with them together.<\/p>\n<p><strong>Original Article <a href=\"http:\/\/www.businessinsider.com\/skills-you-need-for-future-career-success-2018-2\"><em>@BusinessInsider<\/em><\/a><\/strong>.<\/p>\n<p><strong>Featured Photo by <a href=\"https:\/\/unsplash.com\/photos\/yx7MRPsTgss?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\">rawpixel.com<\/a> on <a href=\"https:\/\/unsplash.com\/search\/photos\/business?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\">Unsplash<\/a>.<\/strong><\/p>\n<p><em>Serial entrepreneur<\/em><a href=\"https:\/\/www.fastcompany.com\/user\/faisal-hoque\"> Faisal Hoque<\/a><em> is the founder of<\/em><a href=\"http:\/\/www.shadoka.com\/\"> Shadoka<\/a><em>, which enables aspirations to lead, innovate, and transform with its accelerators and solutions. He is the author of \u201c<\/em><a href=\"http:\/\/everythingconnectsthebook.com\/\"> Everything Connects: How to Transform and Lead in the Age of Creativity, Innovation, and Sustainability<\/a><i>\u201d\u00a0<\/i><em>(McGraw-Hill) and other books.<\/em><em>Copyright (c) 2018 by Faisal Hoque. All rights reserved. Follow him on Twitter\u00a0<\/em><a href=\"https:\/\/twitter.com\/faisal_hoque\">@faisal_hoque<\/a><em>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Leaders have to think digital, embrace design thinking, and read every day to keep up.<\/p>\n","protected":false},"author":1,"featured_media":11441,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[557,528,531],"tags":[530,950,773,516,550,961,560,962],"class_list":["post-8157","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-innovation-blogs","category-entrepreneurship","category-leadership","tag-business","tag-design-thinking","tag-digital-transformation","tag-faisal-hoque-2","tag-innovation","tag-leadeship","tag-management","tag-trends"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The 6 Trends That Will Shape Your Business In The Future \u2014 And How To Prepare For Them - 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