Business Trends

What are the most significant trends affecting business today?  McKinsey Quarterly has an interesting article summarizing survey results.  Key takeaways:

  • Business is changing rapidly, due to product innovation, easier communication, cheap capital
  • Competition is increasing through greater capability of competitors, and sheer number of competitors

Business Strategy Implications: I still hear people say that they don’t have significant competitors.  If you think that, you’re in denial.

Business Strategy Impliations # 2:  How fast can you change as technology, information and competition changes?  That’s a key skill this century.