Lenderman on Industry Trends

Erik Lenderman is the published author of the 'Principles of Practical Psychology' and 'Human Capital Management', so we asked for his perspective on macroeconomic business trends.

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According to the U.S. Small Business Administration, small businesses represent 99.9% of all businesses in the nation, so we were interested in how technology has grown [1].

He explained, “New developments in technology have been primarily driven by the need for companies to expand their digital reach for new users. However, there are many who adopt technology to deliver new services to existing clients.”

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Lenderman shared data from FinancesOnline's research, which found worldwide spending on technology grew to $3.3 trillion during 2019, and 50% of technology growth is caused by emerging tech [2]. This includes the Internet of Things (IoT), Software as a Service (SaaS), data aggregation, and cybersecurity. The United States alone accounts for $322 billion of technology exports to other parts of the world, and many businesses are adopting new technology to expand their digital reach (i.e. marketing).

Today, 4 in 10 technology firms in the U.S. reported job openings for technology related positions. These firms are in need of skilled workers to promote their products and services through digital platforms.

Lenderman explained, "The global economy is driven to find efficiencies, and the natural result is technological development.”

The largest percentage of internet users are ages 18 – 29, with 100% of this age group online. For all users, 61% of global Google searches begin on a mobile device. With users spending an average of 6.5 hours online every day, the market increasingly demands high speed and mobile ready digital experiences [3].

He continued, “The most successful companies are those, which procure new technologies and leverage their platforms effectively.”

Erik Lenderman's first publication, 'Principles of Practical Psychology' provides readers with a review of Western theories in philosophy and psychology. The second publication, 'Human Capital Management' is designed for business executives who are interested in economics, organizational psychology, and theories of management.

Lenderman concluded through encouraging the continued adoption of new technologies, because they liberate the human spirit to deliver value to others more effectively.

The 'Principles of Practical Psychology' and 'Human Capital Management' are available on Amazon and other retailers.

To learn more about the industry reports referenced in this article, please visit the below resources.

Source 1: U.S. Small Business Administration | Small Business Profile 2019

Source 2: Finances Online | Technology Statistics 2020 | B2B

Source 3: Hosting Facts | Internet Stats & Facts 2020

Erik A. Lenderman Bio: https://medium.com/@Lenderman33/erik-lenderman-bio-b8cf89edbb3b