Studying Industry Trends (Business Trends )

Business Trends
                    Other trends impact industries that aren’t environmental trends per se but are important to mention. For example, the firms in some industries benefit from an increasing ability to outsource manufacturing or service functions to lower-cost foreign labor markets, while firms in other industries don’t share this advantage. In a similar fashion, the firms in some industries are able to move customer procurement and service functions online, at considerable cost savings, while the firms in other industries aren’t able to capture this advantage. Trends like these favor some industries over others.
                    It’s important that start-ups stay on top of both environmental and business trends in their industries. One way to do this is via participation in industry trade associations, trade shows, and trade journals, as illustrated in the “Partnering for Success” feature.