Future Trends Summary
Jeffrey Wentland
OI466
September 22, 2014
Brandon Johnson
Future Trends Summary
In every business there are trends and innovation drives the train to change products, processes, services, and overall strategies. If a business fails to change ways to be innovative that particular business will fall behind in the market world. In this summary will discuss at least three trends that influence innovation. These trends are mobile applications, customer service, and how businesses adapt to innovation.
With the amount of mobile phones that consumers carry with them on a daily basis the mobile applications used these days are becoming more innovative. Consumers these days want faster and easier ways to conduct business without getting on the phone or going to the business location. The businesses that are making mobile applications easier is the banks and airlines and consumers these days are happier.
Mobile banking has become easier these days as the banks are turning their focus towards the younger generation as these can be customer for life. Banks are adding more features such as remote bill payments, real time financial planning, and mobile check deposits. The new features help keep customers staying with the bank for a long time.
Airlines are also changing their mobile apps as well by allowing the passengers to track their purchase their tickets, tracking their bags, and updated status on the flight. These features help the business form a relationship with the consumers on a daily basis. Besides the mobile apps being more innovative the businesses are excelling in customer service as well.
Customer service in businesses is key on how they treat the consumer. If a consumer is treated well then that consumer will possibly purchase a product or service again. The consumer will also possibly recommend the service to a friend or family which then can turn into another possible relationship. Business all over the world are using ways to make the consumers allow the brands demand politeness from the consumers. These brands offer discounts for the customers. Cafes in Europe offer the patrons a cheaper cup of coffee for using the word please and the customers that do not use the word please were charged more. Another instance is McDonalds and Coca Cola in the Philippines rewards customers for not using their phone during dining. Customers earn points that could lead to free trips to Japan and Singapore. Brands are always trying to improve their customer service.
Businesses have to keep up with the fast technology changes and innovation. The innovation process is where many people in the organization have to contribute to the creation of newer ideas and products. With the creation of innovative products the businesses will also need to spend time on building the culture environment, which is the values, principles and the relationships between departments in the business. With a good culture this allows the employees to understand the strategic plan and work toward that goal.
Many