MBA Research

Trend #8: Instant Information

Business Trend

In our ongoing conversations with the business community, we asked them to identify business trends impacting the workplace. One of the most frequently identified trends: instant information.


Workplace Implications

The saying that “what happens in Vegas, stays in Vegas” needs to be changed. What happens in Vegas can now be shared instantaneously with the world. Immediate access to information impacts all aspects of business and can make it difficult for businesses to differentiate their services. As examples:

  • Employees are expected to constantly be in-the-know and be able to provide instant answers.
  • Customers comparison-shop for the best prices and ask businesses to meet competitors’ prices.
  • An uprising in the Middle East can cause stock prices to fall in the U.S.
  • Customers expect immediate action.
  • Investment information can be obtained in real-time rather than filtered through the media.
  • Negative company experiences appear immediately on the Internet for the world to see.

 

All of these situations result in the need for businesses to exhibit higher levels of transparency. They need to be clear about their intentions, their actions, and their communications.


Classroom Implications

Students need to understand that what they say and do can have far-reaching implications when they are representing the company, whether in the workplace or at a company-sponsored event or activity. This applies to face-to-face interactions, telephone communications, and all virtual interactions. They need to recognize that they are the company. Workplace ethics and ethical decision-making must be stressed in the curriculum. Students need to understand that there are consequences associated with their words and actions. They need to understand that they can sink their careers with careless comments and thoughtless actions.