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Four Projections and Predictions for Business Owners moving into the New Year

February 23, 2018

2017 was a major year for small businesses, enterprises, entrepreneurs and just every member of the global economic and business landscape. A number of innovative practices and trends have come to the forefront in recent times, and all of them have the potential to transform how businesses will be run in the near future, as near as the next year.

 

From digital transformation to the cryptocurrency revolution, the business landscape has seen a number of innovations and new practices, some of which will continue on to next year. To that ends, following are some projections and predictions for business owners and enterprises looking to develop their operational capacity and financial prowess in the coming year.

 

Crypto-currency will be Mainstream

 

Hitherto, Bitcoin and the ilk have remained a part of the underground, in terms of financial importance and legitimacy. This is about to change very soon, and as far as Bitcoin is concerned, it is already changing, seeing as Bitcoin is being accepted b a number of businesses worldwide as a legitimate and viable asset, as well as transactional medium.

 

This, coupled with the continuously climbing value of Bitcoin along with other crypto-currencies, will make the digital currency the future of transaction.

 

Empathy and Culture will be at the Forefront

 

Cutthroat business practices of old are slowly dying, which is giving way to new empathic, compassionate and culture-focused practices. Collaboration is expected to become the focus of many an enterprise, both internally and externally, with companies adopting collaborative practices to better achieve innovative ends, while making the company a better place to work in.

 

Creativity will Trump Financial Input

 

Creativity is already being valued over financial prowess, at least for small businesses. This is despite the fact that SME’s usually lack on the financial front the most, as they have access to the same big data and analytics that their bigger counterparts have.

 

The data will need to be leveraged better to achieve organizational aims, which is where creativity comes into the fold. The brainstorming team that is able to come up with better, more innovative solutions to hurdles will be considered better than the investor who is willing to put heavy stake into the enterprise.

 

Augmented Intelligence will be Valued over Artificial Intelligence

 

AI is not the future of the global enterprise landscape, as is popularly believed. This is due to the technological hurdles faced during the practical tests of artificial intelligence, and the reduced viability of the theory due to faulty implementation.

 

Artificial intelligence, although an attractive prospect, is still in its developmental stage, and may not be the best solution due to our still limited understanding of the medium. A better solution for business owners will be augmented intelligence, which will utilize the concepts of cognitive technology and machine learning to aid with organizational solutions.

 

In Conclusion

 

Innovation is the name of the game for today’s business owners, and the company that focuses most on it will have the best chance of developing its scope in the future. However, correct implementation of innovation will be more important than innovation itself, in order to avoid potential pitfalls and circumvent challenges.

 

April Salsbury, MBA is a strategist, an analyst, an operational guru, a recognized leader and C-suite global healthcare executive with drive and focus for competitive markets.  Co-host of The Business Forum Show and regular contributor to various business journals, she possess multi-functional and multi-national competencies with more than 15 years experience in business and healthcare. Her expertise is in invigorating revenue growth and infusing value of lean practices in growing companies through improvements to cash flow and operations management.

 

Fueling revenue, growth and profit, Salsbury & Co. is a consultancy firm focused on helping businesses and healthcare organizations achieve excellency.  Our specialists have executive experience combined with deep functional expertise to provide our clients with services that drive real impact and results.

 

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