What are supertrends that are currently affecting the future of business?

Available options are:

A. Simple, one-size-fits-all solutions are becoming more popular.

B. Competitive advantage is coming increasingly from knowledge, not information.

C. The overall speed of product releases is decreasing.

D. The way we work is being impacted by offshore suppliers.

Option B and D are correct answers.

Explanation:

The reason is that the countries that are gaining on competitive advantages because of increased investment in knowledge and research and development. The companies in the country then apply that knowledge earned by the investment in the research and development and gain competittive advantage over the rival products.

This competitive advantage decides the future of the business because higher are the competitive advantages higher are the growth and profit of the business investments.

The way we are working is going to impact the offshore suppliers in terms of technology, pricing, marketing, sales and after sales services, etc all have implications on the rivals, customers, suppliers and whole of the society. The customer urges the companies to use environmental friendly operations in manufacturing of products, the company urges its suppliers and supplier urges its suppliers and likewise we have a chain of system enforcement. So yes it is true the way we work in a society affects the suppliers in the other society.

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

c.

clarify customers’ doubts only when asked.