21st Century Trends vs. Fads Guide

Trends, Network Critical Thinking in the 21st Century

• This study guide covers Quarter 3, Modules 1-8

• It is about differentiating trends from fads, and the process of identifying trends

• Trends are long-term patterns of gradual change, while fads are short-lived, popular trends

• Examples of trends include mobile apps, in-line skating, organic food, and social media. Examples of fads include hula hoops, Rubik's cubes, and Cabbage Patch Kids.

• Trend Analysis, is the process of collecting information to identify patterns

• Trend Spotting is identifying new trends and projecting the future, Trend Spotters are people who notices and reports on new fashions, ideas, or activities.

• Fad traits include a short lifespan, popularity for a brief time, often triggered by novelty, and fading quickly.

• Characteristics of a fad: confined to a segment of society, short lifespan, and revived from previous trends.

• Trends have longer staying power, are accepted by many, and are rooted in a culture

• Difficulties in trend identification: hasty/superficial analysis, narrow focus, and scattered data.

• There are various categories, with three key components to recognize emerging patterns: apply disruption theory; analyze if the product/service is different; and assess how newness relates to the existing market.

• Performance: How well does the product perform in relation to customer expectations?

• Customer community: How does the user or customer community interact with and use the new product or service?

• Aesthetics: This refers to how timeless the design of the product or service experience may be.

• Ground-breaking: Does the product cause a total revolution or a simple evolution?

• Market category: Does the trend, product or service create a new market category?

• Key factors in evaluating trends: duration, industry acceptance, and consumer adoption/perception of quality.

• Factors influencing trend duration: differentiation, superiority, and newness.

• Analyzing trends involves identifying parts, determining patterns, and understanding causes and consequences.

• Parts-to-Whole Thinking: Identifying and explaining the emerging patterns, causes, and consequences.

• Causes and consequences are important in understanding why historical events occurred.

• Short-term causes happened in recent before the event

• Long-term causes existed in the years, decades, or centuries before the event

• Important steps for identifying trends: understand its parts, relationship between parts, analyzing emerging patterns from different sources, recognizing causes, and identifying consequences.

• Processes for analyzing causes and consequences of historical events: analyzing events' motives, noting the event's results, evaluating impacts on people, society, and the world, recognizing effects of events on other events as well.

• Defining emerging patterns.

• Strategic analysis and intuitive thinking are valuable for decision-making, with key components in each method

• The components comprise SWOT analysis. (Strength, Weakness, Opportunity and Threat)

• Differentiate key components in strategic analysis and intuitive thinking.

• Strategic Analysis, a rational process, and intuitive thinking, a non-linear process, are different approaches to making decisions

• Key components of strategic analysis: identifying internal strengths and weaknesses, analyzing external opportunities and threats. Factors to consider in strategic choice and strategy implementation.

• Heuristics are mental shortcuts.

• Methods or heuristics are needed when analyzing complex scenarios.

• Analyzing trends involves identifying patterns, causes, and understanding consequences

• Important activities to exhibit care and respect for the environment and its effects on people and production. Some examples include: conserving water, recycling, reducing consumption, eating sustainable foods, planting trees, and practicing proper waste disposal, and using less energy and public transportation

• Factors to consider in evaluating trends: duration, industry acceptance, and consumer adoption/perception of quality.