Email: Recommend a book on basic, valuable business principles. (HK)
Recently, nostalgic reflecting on items in my trunk. A Sony camera, folding maps, camera films, VHS tapes, CD’s, Nokia mobile. How powerful disruptive market forces can be! Mark Esposito & Terence Tse write in Understanding How The Future Unfolds: Using DRIVE to Harness the Power of Mega-trends:
“In business, we tend to think today is certain & tomorrow is uncertain. But, that logic can be flipped. Certainty in the present implies there is nothing we can do to alter an outcome, harness an opportunity. Uncertainty implies we can hopefully have better results. The better we deal with our current challenges, the higher our chances of creating a profitable business in the future”.
Usually, market trends are heavily inferred by traditional tools like macro-economics. Takes into account generic aspects of growth. But, these can hardly spot emerging trends. Blackberry focused on the corporate market. Completely overlooked the consumer market where availability of apps quickly grew as a priority for mobile users, lines blurred between a business or personal user.
Prompts an open, ongoing mindset. Sometimes, the best possibilities don’t occur in predictable markets. Rather in curiously connecting with mega-trends. Keep testing hypotheses, experiment by turning ideas into pilots & minimal viable products to determine how market responds. E.g. Uber, Airbnb, Nike perceive customer sentiments with personalised experiences, try innovative business models. The future of business is an exciting enigma. Book offers insightful, inspiring perspectives.