MGMT 204 Human Resource Management
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Part 1: Trend Analysis
Trends are changes to the market environment that are multiple environmental factors (PESTEL) which are working in combination to disrupt the status quo in the marketplace. To understand why a trend is occurring we need to analyze the influence certain conditions of the underlying environmental factors have in creating this trend.
Trends exist in the strategic planning process between the environmental scan and the opportunity / threat analysis.
For Part 1, choose one of the below Trends to Analyze. Then identify and discuss a minimum of three (3)environmental factors, either Political, Economic, Social-Cultural, Technological, Environmental, and / or Legal and how they influence the Trend. The discussion should clearly outline how at least one (1) specific condition within an environmental factor is influencing the growth of the Trend. This condition must be supported by research (see below section on Research).
Trends to Analyze:
The below trends are leveraged from https://trendwatching.com/ which an organization that monitors and outlines the latest consumer trends for their customers. This trend report relates tocross-industry trends that relate to the COVID-19 pandemic and contain ten (10) different trends to choose from. Choose one (1) trend for this assignment.
10 Cross-Industry Trends that are Accelerating by the COVID-Crisis:
1. Virtual Experience Economy
2. Shopstreaming
3. Virtual Companions