MANAGEMENT – SIR NUMAIR SULEHRI

ECONOMIC TRENDS
Economic, refers to an economy. An economy is formulated by the financial transactions
amongst companies and consumers in a region or country. Trend, can be a pattern, in
most contexts, trends are formed and interpreted from sets of data. Economic trend is an
indicator that shows how a region or country is doing financially and the overall direction
in which its economy is moving.
COMPETITIVE TRENDS
Identifying your competitors and appraising their strategies to determine their strengths
and weaknesses relative to those of your own product or service. A competitive analysis is a
critical part of your company marketing strategy. Advertising products or services with
lower prices or higher quality attracts consumers. In Porter's view, strategic management
should be concerned with building and sustaining competitive gain.
POLITICAL TRENDS
Political trend is over-all direction in which politics of a state or region is flowing. The
political factors affecting business are often given a lot of significance. Change in the
political factors can affect business strategy because of the following reasons:
 The stability of a political system can affect the appeal of a particular local market.
 Governments view business organizations as a critical vehicle for social reform.
 Government actions influence the economic environment.
TECHNOLOGICAL TRENDS
Technology entails sets of tools, applications, and practices that help companies control
and manage business and operational performance. These tools combine strategic goal
setting and alignment with planning, forecasting, modelling capabilities, analytics, and
tactical reporting. Technology trend refers to being mindful of the technology that is
recently becoming popular and is readily accepted in the market or industry.
SOCIAL TRENDS
Habits or behaviours currently prevailing among consumers of goods or services.
Consumer trends track more than purely what people buy and how much they
expend. Data collected on trends may also comprise of information such as how
consumers use a product and how they communicate about a brand with their
social network.
GEOGRAPHIC TRENDS
Analyses simple graphs, tables, and maps using geographic data to identify relationships,
patterns, and trends, as exemplified by. Constructing a graph representing geographic
information from a data table to identify trends (e.g., comparing social or economic
indicators between two or more countries).