The current situation requires a variety of changes in the business, entrepreneurs are startingbusinesses with new ideas instead of old business policies keeping in view the circumstances thatoccurred at the time. The present society needs new businesses, during the Covid period everyonestarted utilizing technology and is now accustomed to it. Apart from that, there have been many changesin the way of life (habits) of the people. Traders and industries are making a number of changes andalso online transactions are increasingly taking place and protection policies for online transactionsare also being followed. Policies like franchising, m-commerce aggregator etc. are widely used in thecurrent business sector. The pandemic brings more focus on both the upsides and the downsides ofdigital life
Cloud-based solutions Cloud-based solutions are becoming increasingly popular due to their several benefits, including scalability, cost savings, and ease of use. Many organizations are moving away from traditional onpremises software and leveraging cloud-based solutions. The cloud is a more efficient and costeffective way to run business applications. Businesses and companies utilizing digital technology require improved data security. As technology improves, so do the threats coming from hackers, thus the need to improve data security measures. Hybrid work Hybrid work environments are going to be the most common digital transformation trend in the upcoming year. They are rapidly growing, and workplaces are evolving. The future of work is set to be heavily connected, and employee expectations are increasing. IJNRD2205070
id: d327f7ad150dc05d73784edd2e6caa37 - page: 3
International Journal of Novel Research and Development (www.ijnrd.org) 637 2022 IJNRD | Volume 7, Issue 5 May 2022 | ISSN: 2456-4184 | IJNRD.ORG Digital banking Digital transformations are inevitable and 2022 saw businesses upgrade their digital assets to improve operations. Going into 2022, the speed at which businesses transform digitally will not tone down. From 2022, Digital banking will be among the top digital transformation trends. Most banking services have now online from loan applications to digital payments. There will be a rise in digital banking in the coming years. This will make a great transformation impact in the financial sector. 5G and IoT The 5G network denotes the next age of mobile communication. Its speed enhancements are going to be huge and it is expected that 5G will take around one millisecond to respond to commands, whereas 4G takes up to 200 milliseconds. Businesses that depend on the Internet of things can get a
id: 25af543163433cfa952c55d2c788a489 - page: 3
These business trends have changed the way of conducting businesses completely. It enables the development and deployment of smart devices to solve real-world challenges and issues. ECommerce Electronic Commerce has been one of the best ways in recent years to take your business online and open your market to the whole world. It essentially means buying and selling goods over the internet. You can deliver your products right to the doorsteps of the customer. It will inevitably boost your conversion rates and the number of sales. There are currently several emerging trends in the ecommerce industry such as Amazon, eBay, etc. The latest examples of e-commerce websites are
id: fb294279ef53dfa76d4bdb63df6d2108 - page: 4
Amazon, Myntra, Ajio, Flipkart, Zivame, Meesho etc. Network Marketing Network marketing is one of the best emerging trends in the business environment. It is essentially a medium used by manufacturers to increase their sales. In this method, manufacturers rely on their distributors and their sub-distributors to form an efficient chain or network of delivering products to the customers. This chain of distributors will enable you to reach a huge number of customers and increase your products' sales. Franchising The latest business methodology also includes franchising as one of the emerging trends in it. Franchising can be an incredible way to expand your business even further. It mainly involves providing your business's rights or license to a third party called a franchise, and you will be the franchisor. You will let another party conduct the business on your behalf and receive some profit from that. IJNRD2205070
id: bbb258134576116be150c76c67ba78c5 - page: 4