Welcome to the New Future. How are you going to cope with the most challenging business changes you have ever faced? What are the top trends you must know about today? How can you better plan for the future? Whether that future is one minute or one year from today you need to be prepared to face the future challenges and risks.
An understanding of key future trends will drive opportunity for business leaders world wide. Key questions that must be integrated into future business strategy are: What are the top technologies and business processes that will shape competitive advantage? How will future economic trends affect markets? What new opportunities does science offer? What role will globalization and trade play in the future?
Much of how business does business is still trapped in 19th century models. There are trillions of dollars of products that are in inventories worldwide. Models for distribution and supply chain optimization, from procurement to marketing are frozen in time, too often disconnected from the electronic web of the enterprise. Suppliers, customers, agents, producers still are paper and distance constrained. The next generation marketplace will find a convergence of applied artificial intelligence, super fast optical networks, wireless systems, smart agents and real-time communications. Hard questions must be asked now to determine core competencies, strategic positioning and corporate identity to meet this fast future.
Complex and real-time changes will become the norm for business in the 21st century. At the same time we forecast going back to the future. Business leaders need to develop a capacity to envision future opportunities as well as challenges. The short term focus that grips many organizations misses rich opportunities for future success.
Technology will be the major enabling force for business in the future transforming supply chains, value nets, business models, work styles and opening up new global markets for expansion.
The full integration of technology into business will transform commerce, just as society is being altered. This is the first wave of digital global electronic economics, a new model. The convergence of artificial intelligence, data mining, the next Internet, supply chain engineering, business process change and wireless eBusiness will create both disruptions and opportunities.
In the next evolution of business, where every business is an e-business, software agents and avatars will play an important role. Agents will help us navigate commerce, find information, negotiate deals and even keep us company.
e-business is the future of business.
e-business is what happens when you connect your critical business systems directly to your critical constituencies – customers, employees, vendors and suppliers – via intranets, extranets and over the Web combining the resources of traditional information systems with the vast reach of the Web.
These are the four domains of eBusiness customer service that will shape competitiveness: Speed, Connectivity, Innovation and Quality.
Thousands of businesses have taken the first step to becoming an e-business by establishing a Web site and publishing information electronically. It’s simple to do and relatively cheap. But the impact on your business is limited.
The second step is moving to “self service” Web sites – where customers do things like check their account status or trace a package. This is harder to implement, but the potential return is great.
The third step in becoming an e-business is moving to transactions – not just buying and selling, but all processes that require a dynamic and interactive flow of information.
Things like service and support, managing supply chains, and the many systems (both internal and external) that are at the heart of how your business works.
This is where the world is headed. It’s happening now and it’s happening fast. Is your business ready for it?
(This is an excerpt from Dr. James Canton & Institute for Global Futures). To read the full article visit:
- Preparing for New Supply Chain in Health Care (blogs.hbr.org)
- Artificial Intelligence 6/10/2011 (empressoftheglobaluniverse.wordpress.com)
- Spend Matters Friday Latte (spendmatters.com)
- LATEST FEATURE: Enterprise Apps Forecast – Cloudy But With Chance of Transformation (ecmplus.wordpress.com)
- Minority Businesses Feeling More Optimistic About Future Business Prospects (prweb.com)
- 2nd Annual Future of Business Media Conference (kauffman.org)