November 13, 2018
Recognizing the business challenges of volatility, uncertainty, complexity and ambiguity, Kynetec b² recently interviewed a panel of 100 top-level business managers across different industry and service sectors to fully understand the current and future trends that most significantly affect their businesses.
Results from the research identified two megatrends: the ‘smart era’ and the ‘new societal model’. The smart era trend includes technological intelligence and material science to enable businesses to optimise the personalisation of the goods, services and experiences they offer to their customers. It also includes digitisation and virtualisation to automate daily processes, changing the need for human intervention.
The key trait comprising the new societal model is that the individual becomes more important than the masses, and that ‘being’ is more important than ‘having’. Over the years consumers, customers and employees have become individualised to such an extent that they now expect to enjoy a unique experience. At the same time, sustainability and environmental impact are increasingly influencing choice, and a shared economy is on the rise. Finally, the new society will continue at a fast pace to influence the way we work to ensure the ever important work-life balance is met.
Pieter Goossens, Senior Research Director of Kynetec b², commented, “We wanted to provide clarity to help businesses and customers address the issues most impacting today’s professional world. By combining the two megatrends, we identified a significant number of business challenges.”
The business challenges identified include amongst others:
- Product developments meeting audience requirements beyond technological advancements, in a context where Corporate Social Responsibility becomes a basic requirement
- The need for service going far beyond product delivery in a customer-centric world
- Customers being increasingly in control over brand reputation, and the importance of co-creation
- Creating flexible and collaborative working models, led by customer and employee expectations
- Advanced digitalization of marketing processes to automate and simplify customer journeys whilst maintaining authenticity