COMMENTARIES

20/20 Vision

Business people today must have good eyes.

Strange that this would be a prerequisite for entrepreneurship, however, it is very true. Not only must you be able to see all of the activities that you are undertaking today; you must also be able to see the future. This requires vision far beyond 20/20. Although this has been a required attribute in the past, it is critical in today’s business climate.

Consider the factors, which are influencing the future of your business:

• The rapid proliferation of information via the electronic super highway

• The downsizing of government

• The elimination of corporate middle management

• "Deintermediation” (nice word... means elimination of middlemen such as wholesalers, agents, etceteras)

• The trend towards out sourcing of key government and corporate functions

• Computers in virtually all businesses

• Computers as a household appliance

• The ageing population

• The unemployed young generation

• Global free trade

• “Big box” retail chains

• Internet cyber malls

Take any business, apply your 20/20-plus vision, and you will find both positive and negative probable future implications from each of the above factors. There are many more trends affecting the future of your business. How are you adapting to ensure your long-term survival?

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