The Biggest Startup Trends in 2021 MBA School Students Need to Know

Students in MBA programs might find it helpful to learn about some of the startup trends anticipated for the year ahead, some resulting from the global pandemic, with others representing continuations and evolutions of previously existing concepts. Knowledge of these trends can provide new insight for opportunities - and having economic and business administration expertise, as well as knowing effective management and leadership tools and techniques, can help you develop a successful startup more efficiently. With that in mind, here’s a quick look at some interesting trends you can expect to see in 2021.

Focusing on Digital Solutions Through E-Commerce

The need to digitize and innovate became extremely important as more people stayed home due to COVID-19. Many individuals turned to e-commerce as a way to make contactless purchases, spurring the need to have better and more effective e-commerce systems in place. Companies are already working on improving various features of e-commerce, including personalized content, digital payment options, as well as distribution and supply chain management. For startups looking to make their mark, focusing on digital efforts is therefore important in 2021. Relying on e-commerce platforms also helps startups better understand and engage with their customers. Here, generating data becomes essential as it helps them gather feedback and make adjustments accordingly. Business relationships can thus be strengthened through direct communication, creating more brand loyalty. While Amazon and other third-party e-commerce sites are overwhelmingly popular, startups can still profit by directing traffic to their own websites - where they have more control to grow their brand and customer base.   

Using Sustainable Finance Practices After MBA School

Sustainable finance, or green finance, typically refers to financial decisions and investments made with environmental and societal concerns in mind. In the past year, consumers have become more environmentally-conscious. Concerns over our environment are pushing businesses of all sizes to work towards a better environment through sustainable economics and eco-conscious projects. As a result, a startup that focus heavily on sustainability and social responsibility will be poised to stand out from the crowd.   

Sustainable finance is still an emerging trend, but is expected to continue evolving in 2021. The Global Sustainable Investment Review is a biennial report that is considered to be the only resource with comprehensive data on international sustainable investments. According to its 2018 report, global sustainable investments reached $30.7 trillion in Europe, the United States, Canada, Japan, Australia, and New Zealand combined. With the numbers expected to rise, keeping sustainable finance practices in mind after completing MBA school may be of use in your future business plans. 

Depending on 5G Technology for Better Communication and More Innovation

Students taking MBA courses will know the importance of communication and innovation in business. The use of 5G technology is becoming an international trend, promising to revolutionize various industries and sectors worldwide.

This IHS Markit Study reports that 5G technology can increase global sales activity, potentially reaching $13.2 trillion in 2035. This technology is predicted to pave the way for better communications and new technological developments as startups begin exploring the endless possibilities of 5G integration. This will also likely lead to improvements over the coming year to machine learning, big data management, and Internet of Things scalability.

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