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Trends in Technology for Entrepreneurs

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The "Eight business technology trends to watch" article from McKinsey Quarterly highlights that technology alone is rarely the key to unlocking economic value: companies create real wealth when they combine technology with new ways of doing business. Through our work and research, we have identified eight technology-enabled trends that will help shape businesses and the economy in coming years. These trends fall within three broad areas of business activity: managing relationships, managing capital and assets, and leveraging information in new ways.

Which of the Eight Business Technology trends do you find relevant that entrepreneurs can take advantage of in context of consumer behavior / marketing? Please explain with use of examples.

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Solution Summary

This solution addresses the "Eight Business Technology Trends to Watch" from McKinsey Quarterly and describes which one of the trends entrepreneurs can take advantage of in context of consumer behavior/marketing. It gives examples.

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An entrepreneur could use consumers as innovators in the context of consumer behavior and marketing. With the advent of the Internet and influx of social media, consumers have a larger voice than ever before. Entrepreneurs can take advantage of this interaction with consumers by inviting them to customize their own products, for instance. A watch company ...

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Sally Baldwin, Ed.D
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  • BA, University of Southern California
  • MSS, United States Sports Academy
  • Ed.D, Boise State University
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