Trend is a type of element that represents the direction towards which industry is moving.
A trend can be understood as a significant development of one or more variables in the same direction and constant over a certain period of time. Trends are medium to long-term developments in the corporate environment. Compared to so-called "fashions" or "hypes", trends last at least five years and significantly impact the corporate environment. A trend exists outside of the company and independently from it.
Application: Company can collect, track and evaluate trends and further use them for strategic and operational planning.
Example of trends:
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