The Ten Most Influential Business Trends For 2021

What Developments Will The Year 2021 Bring?

While many cannot wait to say goodbye to 2020, there is no doubt that the coronavirus pandemic and how companies have had to adapt to ensure their survival changed how the year did 2021 will be and what companies should do to prepare for the coming year. Here are the top 10 trends and technologies that will occupy any business in 2021.

Home Office

Companies were forced to quickly switch their workflows to teleworking when employees had to stay at home due to COVID. With some distance and the lessons of this first experiment, most companies are now rethinking their entire business model. Are offices still needed? Some companies saw productivity increases when their workforce switched to remote working.

For others, however, working from home was not ideal. Therefore, in 2021 companies will have to redesign their workplaces and provide appropriate support to employees who work from home, e.g., Having the right office equipment, mental health support, and more so everyone can work from the comfort of their home.

Data As An Investment

The amount of data has grown massively in recent years. The companies that use this data to understand their customers better and improve their decision-making are the ones that do better than anyone else. Cloud solutions make it possible to access data from anywhere. Companies need to protect and secure data just like any other good.

Another important point for companies is how they can increase data literacy in their company in 2021 to gain insights for decision-making. This also requires an investment in systems that can efficiently and effectively process, analyze and store the data flowing into the company.

Business Model Innovation

In 2021 every manager has to think about what they offer their customers and how they act. There have been many industries that changed entirely in 2020, such as hospitality and events. The companies that are currently thriving even during a pandemic are the ones that have responded quickly to the changes.

For example, restaurants that have adjusted to expanded take-out options companies that manufacture fans have changed their typical processes to ensure survival. Although companies have always had to think about how the market is changing and what changes that mean for business, in 2021, it will be even more important to renew your business model.

Automation

Another top business trend in 2021 will be automation. Companies will evaluate their business processes to see where they can take people out of the process if they don’t add value. There are already some shifts in this direction from warehouses, supply chains, autonomous vehicles, trucks and ships, and chatbots that automatically handle customer service requests.

In 2021, process automation of employees is expected to be a trend; for example, when one thinks about which parts of the work of a lawyer, doctor, or another employee can be handed over to computers and intelligent robots and made available via automated interfaces.

Decentralized Financing

Capital markets remain nervous as a result of the economic turmoil that COVID-19 has left. This presents a challenge for companies looking to raise capital to expand or start a new business. One solution for raising money is crowdfunding, blockchain technology, and other decentralized financing options. This will be a big trend in 2021, allowing companies to raise capital more quickly than traditional channels.

Virtual Interfaces

As companies looked for new ways to provide service to non-in-store customers, they began to think about how to deliver some of the services in digital form using augmented reality, virtual reality, and mixed reality. To fulfill orders from home, people would use virtual avatars to try on makeup, glasses, and clothes. “Ultimately, this” try-before-you-buy “principle with virtual interfaces will change the way companies offer their services.

Switch From Global To Local

In 2020, there were many reasons to think locally rather than globally – COVID-19 disrupted international supply chains, there was mounting tension between the US and China, and Brexit was imminent. Businesses began to rethink where to buy and sell their goods as international unrest could disrupt the industry. More localized manufacturing and sales are also appealing from an environmental point of view.

Purposeful And Meaningful

There is a trend towards more purpose and purpose in our jobs. Younger generations entering the world of work want to connect with a sense or work for an honest meaning company. Organizations that don’t have a clear or meaningful purpose will have difficulty attracting talent and customers.

Sustainability

Sustainability has been an issue for a while, but the focus has shifted during the pandemic. As devastating as the coronavirus was for the economy, companies realized that the environmental crisis could be far more damaging to the world and corporate results than the pandemic. As a result, every company needs to rethink its operating procedures, the impact on the environment and its products, and their use. This sustainability trend is closely tied to the previous direction of a good purpose as companies reduce their carbon and water footprint.

Social Engagement

During the pandemic, brands relied on interacting with their customers and prospects through social media. In 2021 there will be a big push towards a more authentic presence on social media that will be less shaped by social media experts such as B. Real insights behind the scenes of a company. This goes hand in hand with the involvement of influencers and micro-influencers in your industry – i.e., those key people who drive the conversation and deal with your customers.