3 Digital Trends Business Owners Should Be Aware Of
/
Business owners are facing an overwhelming number of potential disruptions as we dive headlong into the 2020s. As we continue moving forward into a new decade, business is becoming increasingly challenging. This is mainly because emerging technologies and the changing demands of consumers are forcing brands to adapt to change, often before they are set up to do so. It remains of paramount importance that businesses are not only up to date with the latest management trends, but that they are always prepared to adopt those trends that are the most relevant.
Here are some business management trends that will matter more than ever in 2020 and beyond.
Robotics and Automation
There are many fears about the growing value of automation, and this is one trend that looks to be making more of an impact on businesses than any other. Already, some professions are feeling the effects of automation, and that means that there are growing concerns about the future of many job roles. For businesses, automation boosts productivity and efficiency, and that means we are likely to see automation become one of the most significant trends in the B2C and B2B markets. Brands need to start looking closer at automation if they want to keep up with the competition, and that will mean building a culture of automation from day one.
The Internet of Things
Although not a new trend, the uptake of Internet of Things (IoT) remains slow and this has led many managers to assume that the technologies that make IoT so valuable have yet to be perfected. With fears of cybersecurity breaches and the distinct lack of a unified growth strategy for connected devices, IoT has yet to establish a real presence in the business sector. As connectivity improves, however, and more device manufacturers prioritise improved security, 2020 could be the year IoT establishes a firmer footing in business.
Digital tools
Businesses have access to more high-tech tools and resources than ever before. It can thus be very challenging to define exactly which tools are going to provide value and which are nothing more than vanity resources. The right tools used in the right ways can transform entire departments, and that’s good news for entrepreneurs and business owners. If your business delivers project management services for example, be sure you have a keen understanding of the best project management tools available. Every business domain has a set of tools it can benefit from, so be sure to look into the tools that are suited to your business. Failing to use the right tools could limit your potential for growth.
These three business management trends are not new and have been discussed in length over the last few years.
When it comes to the sales team, understanding the difference between sales management and account management is key. Both roles are essential to a business’s success, but their responsibilities and goals often overlap in ways that can be confusing. By focusing on how these roles work together, businesses can get the most from their teams.