Much like technology and healthcare, the business environment is always changing. Innovation and fresh strategic directions offer exciting and challenging opportunities that are worth watching. Even more than that, staying on top of the latest shifts with Manhattan's Master of Business Administration degree can help you drive trends instead of just observing them. Here are seven top business trends.
Decision makers have embraced the large amounts of data generated within an organization, in part because it helps to foster more analysis and risk management. Being able to prepare and explore data can give you the skills necessary for seeing where risks might be a factor for the future.
- Related Course: MBAC 611 Advanced Data Analysis
Because workforces have become multigenerational with location-agnostic teams, the need for organizational insights has never been greater. The ability to use behavioral science to understand leadership is a distinctive way to evaluate organizations based on the individuals who work for them, not just on business operations or output.
- Related Course: MBAC 622 Leadership and Organizational Behavior
Our globally integrated economy requires a multidimensional perspective for understanding business issues around the world. Beyond just the financial aspects of deals and projects, those with entrepreneurship skills must also be well-versed in the social, cultural and technological issues that arise in a diverse global environment.
- Related Course: MBAC 624 Going Global: Business and Society
In today’s business landscape, managers in every industry are being asked to base key management decisions on business goals but also on solid economic principles. That includes being able to provide estimation and forecasting as well as profit maximization and pricing strategy. Managers are increasingly being asked to analyze problems and develop strategies with more economic knowledge.
- Related Course: MBAC 635 Managerial Economics
Supply Chain Issues
With globalization at play and economic principles in demand, it makes sense that supply chain management would also be a top business topic. Being able to streamline various parts of a supply chain is crucial for efficient operations, and managers must know the vital aspects of logistics, production and sales.
- Related Course: MBAC 636 Supply Chain Analysis
Once just a branch of philosophy, ethics has become increasingly important in the business realm and requires in-depth understanding of how ethics shape organizations and individuals. Being knowledgeable about ethical issues can help any manager or leader in any industry stand out among peers.
- Related Course: MBAP 710 Professional Ethics
Environmental and natural resource issues affect almost every organization in today’s business climate. It has become necessary for leaders to recognize and understand environmental economics, particularly the challenges that come up with supply, demand and market fluctuations.
- Related Course: MBAC 626 Environmental Economics
These emerging trends in business are driving the need for leadership and providing ample opportunities for those with the crucial business skills that are in demand. The Online MBA from Manhattan College helps you develop and refine the type of cross-functional strategies required to foster collaboration between people, departments and disciplines while becoming a leader in business and boosting growth in any industry.