June 2016 | Nano Tools | Business Trends
Nano Tools for Leaders® are fast, effective leadership tools that you can learn and start using in less than 15 minutes — with the potential to significantly impact your success as a leader and the engagement and productivity of the people you lead.
Contributor: Mauro Guillén, PhD, Dr. Felix Zandman Professor, Professor of International Management, The Wharton School; Director of the Joseph H. Lauder Institute of Management & International Studies at the University of Pennsylvania.
Take advantage of one or more key global trends that could position your company for rapid growth in the future.
When most business leaders think about emerging markets, they think geographically: where are they in the world, and how can we tap into them? The problem is that while geography is a useful way to define growing markets, every executive is looking at the same map.
If you want to gain a unique competitive advantage, there are other growth trends that may be more important to watch.
Is your business prepared to take advantage of each of these key global trends?
Although some of these changes in global consumer markets have been going on for a while, they are expected to reach game-changing levels in the next 15 years — and they will affect different industries in different ways. Think about these growth opportunities in segments; each demographic cuts across multiple geographies, so there are opportunities to sell in many different kinds of markets.
As you think about each of these expanding markets, consider the customers’ different needs and preferences. What could they mean in terms of new products, services, and business models?
Recognizing the four emerging markets, how might your business take advantage of them? Ask your leadership team to consider the following questions:
Nano Tools for Leaders® was conceived and developed by Deb Giffen, MCC, Director of Innovative Learning Solutions at Wharton Executive Education. It is jointly sponsored by Wharton Executive Education and Wharton’s Center for Leadership and Change Management, Wharton Professor of Management Michael Useem, Director. Nano Tools Academic Director is Professor John Paul MacDuffie, Professor of Management at the Wharton School and Director of the Program on Vehicle and Mobility Innovation (PVMI) at Wharton’s Mack Institute for Innovation Management.
Subscribe to the Wharton@Work RSS Feed