What Will Drive Business Trends in 2021?
2020 has been a rollercoaster year for businesses worldwide. Unprecedented events, such as the COVID-19 pandemic, have forced companies to change their business models, strategies, and operations drastically. With 2021 fast approaching, it is essential to understand what trends will drive business growth and success next year.
We conducted an outlook survey to gain insights into industry experts’ opinions on the topic. The survey results revealed several significant trends that will shape the business landscape in 2021.
1. Digitalization will remain a top priority
The pandemic has accelerated digital transformation, making it an essential factor for businesses to remain competitive. According to the outlook survey, 85% of respondents agreed that digitalization would be crucial for businesses in 2021.
Businesses will focus on utilizing digital technologies to improve the efficiency of their operations, reduce costs, and enhance customer experience. For example, companies will increasingly invest in e-commerce platforms, digital marketing strategies, and virtual collaboration tools.
2. Remote work models will continue to grow
The pandemic has also accelerated the adoption of remote work models. With the widespread availability of collaboration and conferencing software, telecommuting has become a viable business model for companies of all sizes. According to our survey results, 78% of respondents believed that remote work models would continue to grow in 2021.
Remote work offers companies several advantages, such as reduced overhead costs and a larger, global talent pool. However, it also presents challenges, such as workforce management and security concerns.
3. ESG principles will become mainstream
Environmental, Social, and Governance (ESG) principles have gained traction in recent years. ESG considerations incorporate environmental, social, and governance factors into business decisions. According to our outlook survey, 64% of respondents believed that ESG principles would become mainstream in 2021.
ESG principles can provide businesses with a competitive edge, as stakeholders and consumers increasingly demand ethical and sustainable practices. Companies that adopt ESG principles can improve their brand image, attract top talent, and reduce operational risks.
4. Cybersecurity threats will increase
As businesses continue to digitalize their operations and shift to remote work models, cybersecurity threats will become more prevalent. According to our outlook survey, 69% of respondents believed that cybersecurity threats would increase in 2021.
Businesses will need to invest in cybersecurity measures such as firewalls, encryption software, and employee training to protect their data and systems. Cyber threats can result in significant financial and reputational damage, underscoring the importance of proactive cybersecurity measures.
Conclusion
In conclusion, 2021 promises to be a year of continued change and adaptation for businesses worldwide. Digitalization, remote work models, ESG principles, and cybersecurity threats will be the major trends driving business growth and success in the year ahead. Companies that can effectively harness these trends and leverage them will be well-positioned to thrive in the post-pandemic world.
