WHAT ARE THE LATEST GLOBAL TRENDS FOR INNOVATORS AND ENTREPRENEURS

The world is consistently changing through different challenges but it does not stop innovation nor entrepreneurs ideas. It is these ongoing challenges that inspire new ideas and industries. Let us know, these challenges are not something new, they are just in a curious stage for innovators to make better use of them and take chances through the trends. In business, trend is a change within a given market or economic. 

Here are some of the global trends we face:

Inflation:

What is Inflation?Inflation is an  imbalance in pricing. Meaning is an increase in price due to several factors which are an increase in consumer demand, increase in product cost, policies, and currency depreciation. 

1. Increase in consumer demand– as consumers demand more products and services at a less supply availability, price intent to increase this leads to an  unaffordability in the economy. Remember the laws of supply and demand. 

Just a refresh, here are some examples of how the law of supply and demand works:

When the supply of a good or service increases, the price tends to fall. For example, if there is a bumper crop of corn, the price of corn will likely fall. This is because there will be more corn available for purchase, and sellers will be forced to lower their prices in order to compete with each other.

When the demand for a good or service increases, the price tends to rise. For example, if there is a sudden increase in demand for a new video game, the price of the game will likely rise. This is because there will be more people who want to buy the game, and sellers will be able to charge higher prices.

However, the law of supply and demand can be summarized as follows:

• When supply is greater than demand, prices tend to fall.
• When demand is greater than supply, prices tend to rise.
• When supply and demand are equal, prices tend to remain stable.

Geopolitical conflict

2. Geopolitical conflict –  we often hear this phrase geopolitical conflict, what does this mean? This refers to disputes, tensions, or hostilities between nations or other geopolitical entities, often arising from competing interests, territorial claims, ideological differences, or struggles for power and influence. These conflicts come with various causes and manifestations, including territorial disputes, resource competition, ethnic or religious tensions, ideological rivalries, or geopolitical rivalries between major powers. 

How can entrepreneurs make it through these tensions and confrontation? The answer is, no nation or individual can break or cast out globalization into deglobalization. Globalization is the exchange of services and products across one region or nation to other nations or regions. 

Entrepreneurs establish businesses and these businesses make an economy strong to be valuable and compatible on the world stage. Business also proves the effectiveness of governing leadership of a nation or region.

 Remember as entrepreneurs, your idea is what makes  the world move and the power of the world government stronger so there is no need to be afraid of these tensions or trends. Let’s break this down to simplicity; a person establishes a business, that business grows to influence their region and with the help of globalization as a free trade laws, this business sells and establishes sub-branches outside the home nation. 

The strength of global power and a nation levels to superpower on the world’s stage is all explained through innovation, business, and entrepreneurship. Entrepreneurs have the power to develop strategies and meet consumer needs through trade, technology, and effective team management. 

Sustainability

3. Sustainability is all on the Newsline in the form of climate change. What do we mean by sustainability (climate change)? Climate change generally refers to the changing condition of the atmosphere. The atmosphere is made of several layers. Layers are stages in height extending into space. These layers come with different responsibilities. Some are responsible for weather, heat balance through the Ozone layer which shields us from the sun’s ultraviolet radiation , radio wave transmission and the list goes on.

As we all know, the atmosphere has a balanced rate for human lives. They are made of water, heat, and air. These are the three main components that make up life on earth. Earth is a planet where living things exist for now. Maybe there will be other planets to come as scientists are working on this fluctuation idea. Until, the planet remains the hope for life. 

As an entrepreneur, how do you see opportunity in this climate change? The soil is overheating, sea levels are rising, and the list goes on. This is what makes a great entrepreneur. The cause of soil (land) and water (ocean) overheating is due to the fact of the smoke we release into the atmosphere called carbon dioxide and methane. Now you have learned much from climate change and what is being affected. Let’s see some solutions for entrepreneurs.

1. Building a climate sustainable product in the form of renewable products and services. Eg. electric cars, planes, ships, houses, and the list go on. After naming these substances, I hope you find your new business idea. 

2. Education and data: using data to educate various communities that are causing these changes. Maybe by some negotiation or providing better means for them to shift to a new product. To those communities, they are just making a living, it is we entrepreneurs’ ideas to create education material for our products and services for them. example : how do you expect a person who uses cut tree wood for cooking and other domestic uses if you don’t provide affordable and awareness means for this individual to cook. 

How should entrepreneur think: 

All those listed trends are something we should invent ideas and change their approach within a short time range rather than promising dates and years to make this change. These trends are not waiting on our promising dates, they can be achieved when entrepreneurs see them as new industries with new ideas. Because they create smart ways for entrepreneurs and innovators to see the world as an opportunity and new system development. To be an entrepreneur is not about taking risks in starting a business. Is about consistently observing the market flows and making better decisions for innovation and future responsibilities. 

Mandela Thomas – Writer/Entrepreneur

Mandela is an international strategic consultant (analyst) and entrepreneur with several years of experience in international and local business operations.

However, Mandela is driven by a deep passion to change the world through entrepreneurship and to make his mark in history. Mandela views the world as a place full of data and solutions, which makes him both anxious and curious to find solutions to global challenges and solutions for new ideas of generations.

In short, Mandela is a passionate and curious individual born and raised in Africa, specifically Liberia, which he always states and believe is the best nation in the world.