Trends in business development in 2023. through the eyes of futurists – To succeed in the present, it is important to see the future. Of course, now it is difficult to talk and even think about the future, especially to determine development trends. However, global trends will not go anywhere: the American Forbes has already begun to describe what awaits business in 2023. And although this will not apply to all countries, the global trend remains this way: various companies around the world are facing unprecedented difficulties in recent years and it is predicted that this will not end in the near future. We talk about the trends that will affect business around the world in 2023, according to futurologist and strategist Bernard Marr, because we believe that getting acquainted with the opinion of professionals is never superfluous.
1. Digital transformation will continue to intensify and accelerate in response to our external risk environment. Marr claims that in 2023 we will see further development of artificial intelligence neural networks, virtual and augmented reality, blockchain and other transformational digital technologies. Moreover, he predicts that the boundaries between them will become increasingly blurred because one cannot develop without the other. Specifically, new approaches to hybrid and remote work, business decision services, and automation of routine and creative tasks will be developed at the intersection. “At this point, there really are very few excuses for being in business and not understanding how AI and the other technologies mentioned above will impact your business and industry. Better sales and marketing, better customer service, more efficient supply chains, products and services that are more in line with customer needs, and streamlined manufacturing processes are upon us, and the barriers to entry will be lower in 2023 than ever,” the expert said. At the same time, he adds that the need to develop own technological solutions for companies is already in the past: even small businesses can get access to them by purchasing them as a product or service from specialized companies.
- The general economic downturn and inflation will force businesses to think more and more about optimizing supply chains.
The economic situation in the world in 2023 will remain quite pessimistic: perhaps there is not a single economist left in the world to give an optimistic forecast for the coming years. Inflation and currency volatility (the very fact that at some point in 2022 the euro almost equaled the dollar hints at this) add to the risk associated with supply chains. To combat this and stay afloat, companies must increase their resilience in every possible way. This basically means reducing exposure to price volatility in commodity markets, as well as building safeguards into supply chains to combat shortages, inflation and rising logistics costs. Chain mapping of companies’ logistics networks can help solve this problem, according to Marr, so that they can assess the real risks and find potential solutions, up to changing suppliers or developing their own alternatives to their products.
- Regardless of everything that happens around, sustainability will be very important.
It seems that during such an economic, energy and geopolitical crisis, the environment is the last thing to think about. But it is environmental problems in the near future that may overshadow even the damage the pandemic has done to the economy and entrepreneurs. Therefore, in 2023, Marr believes, consumers – and investors too – will continue to choose environmentally and socially responsible companies. Furthermore, in his column, he says that even shopping trends are increasingly being driven by conscious consumers – ie. those of us who prioritize factors like environmental impact and sustainability when choosing who to buy from or do business with. This is why in 2023, companies must ensure that their environmental, social and governance (ESG) processes are at the center of their strategy. The first thing to do is measure the impact of business on society and the environment, and then move on to increasing transparency. Every business needs a plan for how to mitigate any negative impact – with clear goals and timeframes – and then that plan needs to be backed up with an equally specific list of actions.
- Quality and price remain important to customers, but experience will increasingly play a role.
The phrase “customer experience” has become a big part of our lives over the past few years, and Marr believes that in 2023, customer experience will become just as important. Along with the price and quality of the product, this affects not only what the buyer chooses, but also how he does it and what he experiences. Everything is simple: if, in addition to the product, you provide the customer with pleasure from the process, he will come back again. Traditionally, various technologies are used for this: first of all, various recommendation mechanisms, as well as support services, both before and after the sale. In 2023, they will still be important, but customer demands are evolving and immersion and interactivity are becoming key, according to Marr. As a possible solution, he cites the example of the metaverse, where people can interact with brands on a new level, and calls virtual trials one of the most significant trends in online and offline retail. In addition, the expert also noted that employees in the position of “customer experience manager” – CXO, Chief Experience Officer – are increasingly appearing in companies. On the one hand, this reflects the demand of the audience, and on the other hand, it is a trend in itself that will grow in 2023. Here comes the extremely important role of outsourcing companies. Considering that large and medium-sized companies transfer their customer service to such type of BPO companies, the demands on them also increase. Standards and innovative approaches in business process outsourcing are increasing significantly, following the trends in business development. The individual approach and added value in service in the B2B sector will continue to gain momentum.
5. Businesses will have to rethink their approach to personnel management and hiring employees, because they began to value themselves more. The pandemic caused several changes in the labor market at once; people realized that they can’t go to the office every day without needing to, companies realized that they can transfer part of their employees to remote work, reduce office costs and still not lose anything. In addition, more workers overall reassessed the impact of work on their lives and alignment with the Global Goals. In Western countries, what is happening this year has already been called “The Great Resignation” because more and more people have started to leave their jobs. In relation to all this, employers also need to reassess to see how attractive their workplaces are to talent and employees they are satisfied with the current positions and conditions and to correct the existing problems. Offering people hybrid jobs, continuous growth opportunities, flexibility and diverse, value-driven jobs will be important in 2023, Marr said. And the aforementioned rapid digital transformation will add fuel to the fire, because employees will have to be trained and retrained to work with new technologies and services, and this will also become an obligation of the employer.
