With a billion new consumers poised to join the global middle class, businesses are finding new ways to reach them — including through city-level strategies and greater focus on social impact issues.
Business Trends 2014 is the 2nd edition in an annual piece written by professionals from Deloitte Consulting’s Strategy & Innovation practice.
Business Trends 2014: Navigating the next wave of globalization features nine trends all directly related to a major question for many organizations: What is going on with the global economy? These trends – firmly rooted in longer term and probably irreversible shifts – will increasingly influence strategic priorities. We will be fleshing out the 3 trends in more detail over the next few weeks here…
- Another Billion: Thanks to economic and demographic growth, global consumer demand is shifting dramatically toward emerging markets. But reaching and serving “another billion” consumers may require companies to reach beyond their existing strategies.
- Business & Social Impact: Growth in the next wave of globalization will involve engaging with the social needs and complexities of emerging and frontier markets. These issues are no longer simply the government’s responsibility, or purely philanthropic efforts.
- City Planet: Companies are learning to approach cities as more than simply reliable sources of market expansion, also thinking of them as vital talent centers, innovation hubs, learning laboratories and “proving grounds” for solutions to some of the world’s toughest problems.
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