industry-shifts

Vocabulary Word

Definition

'Industry shifts' are changes that happen in an industry. These aren't small changes, like a new shop opening. These are big changes, like when people moved from shopping in stores to shopping online.

Examples in Different Contexts

In manufacturing, 'industry shifts' often relate to advancements in technology, such as automation and the use of AI. A manufacturing executive might note, 'The industry shift towards smart manufacturing is revolutionizing production processes, making them more efficient and cost-effective.'

Practice Scenarios

Tech

Scenario:

Most of our users are shifting from desktop to mobile apps. It's vital to address this change in our software development process.

Response:

You're right. With this industry shift, developing a mobile-friendly version of our software should be a priority.

Business

Scenario:

Our sales can't ignore the dominance of e-commerce anymore. We might need a new strategy to capture this market segment.

Response:

I agree. To adapt to the industry shift, we need to enhance our online presence.