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Globalization Positive and Negative Impacts

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REASONS FOR UNEVEN DEVELOPMENT IN THE WORLD

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Literature Review Map

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Connection: New leadership systems often are one of the main reasons for change within a company. Therefore, changes in government regulations or training methods can dramatically effect the way companies work globally. For franchises, in particular, the training would have to be implemented globally for consistencywhere there are different laws and regulations.

Connection: If ads are short and attractive when seen on social media platforms, younger customers may look through their platforms and do some research on the product and company before purchasing. Part of this comes from the ease of being able to tap an ad that is interesting and being sent directly to their website, instagram page or twitter feed. Therefore if the company has transparency, customers will see and be interested in the company since they feel "connected" or informed.

Connection: Boomerang employees can be a valuable addition to a company. This is because of the new information, ideas and information they can provide. Information may include customer intelligence data, where they would be able to bring new clients or customers, as they know the products and how they fit into the current market (outsider perspective/international experience).

Connection: Transparency shown through social media will allow the customers to have some sort of trust or loyalty to the company because they will stay updated on new releases and have a chance to get to know the company and not just the products

Global Business Trends of 2017

Trust

Customers, especially in 2017, tend to not have much loyalty or trust in companies. Therefore, in order to keep or increase competitive advantage companies must gain consumer trust. One main way to do this would be through information security, so customers feel safe purchasing products from a particular company (both locally and globally). https://www.visioncritical.com/massive-business-trends-2017/

http://www.business2community.com/loyalty-marketing/8-sheer-facts-customer-loyalty-fact-sheet-01448939#APgdIu5J2mjJGshK.97

Boomerang Employees

It is becoming more popular for millennials, in particular, to become boomerang employees. This means they have worked in the company in the past on good terms and return to the company after a period of time. This can provide helpful inside to the company with someone who is familiar with operations, but may be able to provide new insight on the global economy. https://www.visioncritical.com/massive-business-trends-2017/

"New research shows that the winds are changing favorably for boomerangs. A recent survey by Workplace Trends revealed that "nearly half of HR pros said their organization previously had a policy against rehiring former employees — even if the employee left in good standing — but 76% said that they are more accepting of hiring boomerang employees than in the past." They're right to do so." http://www.businessinsider.com/linkedin-vp-explains-why-boomerang-employees-are-becoming-the-new-normal-2016-10

"One study shows that 76 percent of HR professionals are now more accepting of boomerang employees. Millennials, in particular, are more likely to boomerang: 46 percent of Gen Y would consider returning to a former employer, while only 33 percent of Gen Xers and 29 percent of baby boomers would." https://www.visioncritical.com/massive-business-trends-2017/

Customer Intelligence

In order for companies to make good business decisions they need to start relying on technology that provides information on customer intelligence. By reading into what, where, when and why people purchase particular items these companies will have insight into patterns that they can follow in order to have better chances of making profit. This may lead to finding new foreign markets where there is a need for a particular service or good. https://www.visioncritical.com/massive-business-trends-2017/

"According to SiriusDecisions, customer intelligence management and business intelligence tools are top technology investment priorities for CMOs in 2017." https://www.visioncritical.com/massive-business-trends-2017/

Imperfect Social Media Sharing

Newer social media platforms have drastically changed the way businesses interact with their customers. In the past, companies have believed that perfection and polished products were the way to gain customers, but as of recently, people seem to be more attracted to the brands that are constantly interacting and showing all steps and process involved in getting goods to the public. Also, if they have trust in the company they may be willing to purchase things from overseas because it is "worth the shipping costs and time". https://www.visioncritical.com/massive-business-trends-2017/

"Farhad Majoo of the New York Times says Snapchat is “pioneering a model of social networking that feels more intimate and authentic than the Facebook-led ideas that now dominate the online world,” adding that what users see on Snapchat often feels more authentic and less like a performance compared to networks like Instagram. “People [on Snapchat] aren’t fishing for likes and follows and reshares. For better or worse, they’re trying to be real.” https://www.visioncritical.com/massive-business-trends-2017/

76% of Snapchat users are also online shoppers Snapchat has approximately 100 million daily active users. This allows companies to reach out to more customers around the world, as long as their is internet access (expands markets). http://expandedramblings.com/index.php/snapchat-statistics/2/

Global Uncertainty

Changes in national leaders influences the way businesses run their companies and forces politicians to listen to the communities they serve. This means companies must follow all rules and regulations the new leaders implement, while also getting closer to the customers to ensure the deliver of a proper good or service (both inside and outside the country). https://www.visioncritical.com/massive-business-trends-2017/

For example, "In a draft letter to Congress, the Trump administration has outlined more than 40 goals for a new NAFTA, including the right to impose tariffs on Canadian and Mexican imports; removing barriers to U.S. agricultural exports, which could endanger Canadian supply management" http://www.theglobeandmail.com/news/politics/nafta-what-do-trump-and-canada-want/article33715250/

Strength-based Training

People often go into work for things they are good at, no matter if its something they love or not. With that said, everyone hired for the same position got the same general training, but for 2017 is expected that more people will be trained based on natural talents or skill to increase productivity. http://www.inc.com/leonard-kim/10-business-trends-that-will-grow-in-2017.html

"According to Ian Altman, Gallup Research shows that productivity increases 21% when employees are doing something they love." http://www.inc.com/leonard-kim/10-business-trends-that-will-grow-in-2017.html

Impressive Innovations in Offline Retail

Although online shopping has become increasingly more popular in recent years, companies have begun to focus more on their in-store sales to attract new local customers (unless expanded globally). Online shopping allows for people all over the world to order and use products they could not get locally, therefore in order to increase local sales against foreign competitors, things have to catch the eye.

"In December 2016, the company announced Amazon Go, a grocery store without cashiers, registers and lines. Scheduled to open its first location in Seattle, the store is designed so that shoppers can use an app to add products they want to buy and walk out of the physical store without waiting in a checkout line. Amazon Go leverages machine learning to identify the products shoppers take out of the store." https://www.visioncritical.com/massive-business-trends-2017/

Digital Advertising

Although the success of TV ads increased in 2016 it is expected for digital advertising to be the major marketing platform for 2017. This allows for advertisements on social media platforms that will reach the younger generation. Although this is an effective way to reach a new audience, it also has to be attractive and persuasive. This is essential because ads on games and social media are often seen to be annoying or distracting, so this is an effective business trend if used correctly. Also, if people have access to the internet they can recieve these ads from anywhere in the world (exposure).

" In fact, a 2016 study by the advertising research firm Magna Global shows that digital media sales in 2017 will rise 13 percent, while TV ad sales will slip 0.1 percent. Overall budget for social media advertising, in particular, is projected to rise by 26 percent. Another study, from eMarketer, claims that digital ad spending already surpassed TV ad sales in late 2016." https://www.visioncritical.com/massive-business-trends-2017/

https://www.visioncritical.com/massive-business-trends-2017/