Abstract
This paper focuses on discussing the trend analysis and convergence of breakfast industry. The working industry would not be the same as it is observed today only because there is a great change in trends. The world is changing so fast that looking at the past to predict the future is becoming more ambiguous. Trend analysis looks to discuss how the past can be used to predict the future, while convergence speaks more of the integration of two separate entities to make a unique end product. This would be essential in enhancing planning, thus, effective prediction recommendable. Trend analysis is a method of collecting data that would be used by traders to predict what would happen to stock in the future by attempting to spot a pattern from given information. This paper gives an example of Nike Company and how it integrated with Apple to form Nike. The paper provides a trend analysis and convergence of the breakfast industry.
It goes without saying that the digital world is taking over since its products and services have taken a greater position in the role they play for consumers; to an extent that caused the Great Recession to cultivate a more cautious attitude about utilizing their money to buy things, and the increasing concern about the climate change and its influence on purchasing decisions. Managers are aware of these growing trends as far as social, economic, and technological sectors are concerned; however, they seem to have shallow concentration trends that do not directly affect their stronghold markets (Ofek and Wathieu, 2010). The work exists everywhere, but the real deep reason why people work has never crossed their mind. Past trends have been replaced by questions, ambiguity, and the steady hum of technology (Gratton, 2010). Following the trends put forward by Ofek and Wathieu (2010), work would greatly be affected just as Gratton (2010) spells it out. This paper aims to focus on trend analysis and convergence of breakfast industry.
Trend Analysis
Trend analysis method bases its criteria on events that happened in the past, therefore giving traders gist of what would happen in the future (Khandelwal). Trend analysis follows three types of trends including short, intermediate, and long-term. Trend analysis considers historical data on stock and factors like market conditions, competition for similar stocks, and general changes in the industry, allowing traders to predict short, intermediate, and long-term possibilities in stock. Gratton (2010), argues that the future can no longer be predicted by extrapolating the past reason being the world is growing too fast.
Convergence
Convergence, on the other hand, means the integration of two distinct entities. In regards to technology, it is the integration of different technologies in a single system or device. Taking for example, how a mobile phone embraces the integration of imaging and communication technologies, allowing it to make calls and at the same time take pictures. Ofek and Wathieu (2010), argues that adamant users who frequently use digital oriented services and products have a tendency of focusing on: goals that are not long-term, expect to do more than one task at a go, claim instant recognition, and tend to share information with individuals who they have never talked to, face-to-face.
Nike and its story
Nike made a big move in combining its renowned reputation of producing high-quality athlete shoes with the popular iPod from Apple. In the year 2006, this company that is well known for selling a large number of shoes meant for running shoes in the U.S. made a merge with Apple to come up with Nike’s electronic sports kit that includes a sensor feature that sticks to the shoes one uses to run with and also consists of an automatic wireless receiver that connects to someone’s iPod. The innovation allows one to jog while listening to his/her favorite music, while the sensor monitors the distance and speed, plus the calories someone has burned. The information is then sent to the iPod in real-time. One can upload his/her data on Nike’s website, which has a user-friendly interface that allows one to monitor their progress comfortably.
With the kit one can put forward a particular goal and during a running session, one can check his/her by just a press of a button. The website has taken advantage of social media like Twitter and Facebook, where it is possible to create a group of runners who are going through the same challenge and find out if they are willing to share their experience and data on their performance. More work would be done as Nike is still looking forward to expanding this technology to sporting activities. The initiative has been a big success since they have managed to sell a large number of shoes.
Looking into Nike’s initiative, the project is more than the revenues that they have generated from selling their products over the years. What is interesting is the actions that have made Nike reach its goal and be realized as a bigger sportswear sector of one of the most renowned sportswear industry in the entire world. For customer Nike is not just a product, it has made a growing attachment to their feet that the feeling it is a part of their life.
The combination of technology helped Nike to realize success and revolutionize the whole process sportswear industry, and they have grown with the growing trends as the introduction of this paper stated. Many organizations should adapt to this form of doing a task to be concurrent with the ongoing trends. Technology that Nike has shown is a big driver, and it is changing so fast that other organizations and industries should find ways of adapting convergence with technology to realize success beyond measure before it is too late. As Ofek and Wathieu (2010), puts it, ignoring the trends that are right before the eyes give the competition the power to transform the industry.
References
Gratton, L. (2010). The future of work. Business Strategy Review, 21(3), 16-23. doi:10.1111/j.1467-8616.2010.00678.x
Khandelwal, S. Integrated Trend Analysis with Triple Trend Oscillator – Technical Insights. SSRN Electronic Journal. http://dx.doi.org/10.2139/ssrn.2581352
Ofek, E., & Wathieu, L. (2010). Are you ignoring trends that could shake up your business?. Harvard Business Review, 88(7/8), 124-131. Retrieved from http://hbr.harvardbusiness.org.
