Exploring the Top Business Trends of 2021: Research Examples and Insights
2020 was a year of disruption, forcing businesses to adapt to unprecedented challenges in ways that no one could have predicted. With the dawn of 2021, businesses are looking to the year ahead with a fresh outlook and a determination to succeed in a changed environment. So, what are the top business trends that will shape the business landscape in 2021? Let’s explore.
1. Remote Work as the New Normal
The pandemic has forced businesses to adopt remote work as a way of minimizing the risk of infection and maintaining business continuity. This trend is likely to continue in the post-pandemic era, with businesses embracing the opportunity to reduce overheads while maintaining productivity and employee engagement. According to a study conducted by Gartner, 74% of CFOs plan to shift some employees to remote work permanently.
2. Digital Transformation
The pandemic has accelerated the pace of digital transformation, with businesses increasingly adopting technology to maintain business operations. The shift to remote work has made digital transformation a priority for many businesses, with a focus on cloud computing, automation, and cybersecurity. A study by IDG shows that 59% of businesses plan to increase their IT budgets in 2021.
3. Sustainability
Sustainability is a growing concern for businesses globally, with consumers demanding that businesses demonstrate a commitment to the planet. This trend is expected to continue in 2021, with businesses adopting sustainable practices in their operations. A study by Accenture shows that 60% of consumers are willing to pay more for sustainable products.
4. Data-Driven Decision Making
Data has become a critical resource for businesses, enabling them to make informed decisions and stay ahead of the competition. In 2021, businesses are likely to place a greater emphasis on data-driven decision-making, with a focus on predictive analytics and AI. A study by NewVantage Partners shows that 92.2% of businesses now have a strategy for becoming data-driven, up from 88.5% in 2019.
5. Agility
The pandemic has highlighted the need for businesses to be agile in the face of uncertainty, with the ability to adapt and pivot being critical to surviving in a changing environment. This trend is likely to continue in 2021, with businesses adopting agile methodologies to maintain business continuity and remain competitive. According to a study by McKinsey, 95% of businesses have seen the benefit of agility during the pandemic.
In conclusion, 2021 is set to be a year of transformation and adaptation, with businesses embracing remote work, digital transformation, sustainability, data-driven decision making, and agility to remain competitive in a rapidly changing landscape. To succeed, businesses must be proactive in embracing these trends and investing in their future success.
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