Trends in international business for the next decade
Following the global financial crisis, the world of business has changed for the graduates of the future, so the ability to spot emerging business trends is more important than ever.
The world is emerging from the greatest financial crisis that you are likely to see in your lifetime. Both developed and developing countries have been hit by massive decreases in economic growth and investment, by large increases in unemployment and by major structural changes to their financial, industrial and commercial frameworks. As we head further into the decade, however, it appears that international business may be recovering.
For the university graduates of the middle of the decade (2013-2017) there are a number of key trends to bear in mind when considering a career and, allied to these, certain industries that may be the growth areas of the immediate future. For graduates in the more developed countries, the careers to look for are likely to be in high technology industries, in a new form and style of financial services, including banking, in companies focused on consumer products, in sectors related to viral marketing and social networks and in environmentally concerned businesses such as alternative fuels, waste, energy management and the ‘green’ sector as a whole.
For graduates in the less developed countries, the careers noted above may well prove to be as open to them as to the graduates from the more developed world. In addition, however, the probable areas of increased recruitment in international business are likely to include:
- All sectors where there is increasing deployment of skilled local staff, rather than expatriates
- Industries that are engaged in the continuing transfer of technology, know-how and skills from the developed world
- Companies that are developing entrepreneurial and ‘intra-preneurial’ systems
- Industries, such as communications, that are engaged in technological ‘skips’ i.e. moving directly to mobile phone and smartphone systems