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changes in business

Significant Changes in Business for the Past 20 Years

If you think you’ve heard the title somewhere, you probably watched or read about the recently concluded Ms. Universe pageant held here in the Philippines.

Changes in business have been both fast-paced and gradual. Trends in economic development across the globe have seen ups and downs over the past few years, and the world is still anticipating the next big surprise it’ll see.

We made a list of changes in business that affect the way we work today.

  1. Donald Trump becoming US President. The recently concluded US election is probably the most controversial poll in history, with real estate magnate Donald Trump winning against former Secretary of State Hillary Clinton. Trump is a successful businessman with no prior political experience before he ran for the presidency. In his first few months of office, he made it clear that he plans to bring business back in his country and this will largely affect businesses in and out of the US. His previous decisions have already taken their toll on migrants, including businessmen, and will possibly affect the BPO sector.
  1. Evolution of Social Media. A couple of years back, Facebook and Twitter were social networking sites where we upload our photos and communicate with people. But because of the overwhelming power that it accumulated due to high user patronage, social media sites can now help make or break your business. Social media marketing is one of the most important and meticulously thought out marketing platforms of business owners around the world. One of the many changes in business reflect how invested companies are in making powerful social media ads.
  1. Growth of Business Process Outsourcing. The Philippines is one of the go-to countries of entrepreneurs because of lower costs of doing business and good English speaking and writing skills. Most companies that outsource their services here are from the communications, IT, banking and HRM industries.

Business management has transformed so much and is largely about making things more seamless and convenient. For more articles about business management, go to our websites:

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