# Business trends for the future
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## Article Content
There's been a lot of searching on my site for the list of the "10 big business trends for the future," so I thought I'd replay it here in a blog post. Low-cost domination:  Every industry is now involved in a "race to the bottom", as low cost producers come to dominate marketsCommoditization:  Every product and service is being commoditized as empowered consumers become increasingly driven by the "Wal-Mart effect," expecting consistently lower pricesValue-enhancement as a strategy: Margins suffer as a result, and going "premium" might be the only means to survival Hyperinnovation:  At the same time, hyper-innovation will come to challenge your ability to keep up with changing expectations The end of product lifecycles:  Expect nano-lifecycles to become the norm for most products and services -- and that you will be measuring product lifecycles in months rather than years Specialization:  Increasing specialization will come to challenge your ability to compete - which might mean that you'll increasingly have to "go narrow" Skills shortage:  Expect that a skills shortage might make this an even bigger challenge -- how will you source the talent in a world in which specialized talent is becoming ever more scarce? Hollow companies: Organizations are hollowing out -- and you might not be ready for the impact that comes from these smaller, faster, more nimble competitors Forward oriented innovation:  Short term decisiveness has become critical -- yet you are likely still suffering from aggressive indecision. At the same time, long term insight is one of the most important corporate cultures to re-establish

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Source: https://jimcarroll.com/2005/10/business-trends-for-the-future/