A panel of experts shares their market trends during Black History Month to foster better conditions for Black America in 2021.
During February’s observance of Black History Month, AGSM Consulting LLC gathered perspectives from experts in the fields of education, business, health care, social services, and media. A summary lists of observations and predictions for various market sectors.
Each panel member brought a unique perspective on Black America. One key conclusion reinforced in their analysis is that Black citizens continue to suffer disproportionately from the effects of COVID-19.
According to the National Urban League’s 2020 State of Black America Report,the economic devastation wreaked havoc on Black America, highlighting deeply rooted inequities in the economy. Black and Latino Americans are overrepresented in low-wage jobs that offer the least flexibility in working accommodations and increase their risk of exposure to the coronavirus. Their rates of coronavirus infections and deaths attributed to COVID-19 are higher. Additionally, Black and Latino’s workers are more likely to hold jobs that don’t offer health insurance benefits.
Unreliable information is another concern identified by the group. “In many cases, the Black community is flooded with misinformation,” said Dr. Daryl Green – a business strategist and author. “Yet, we have some brilliant people within our community. Therefore, it is important that the Black professionals share their expertise in order to propel this generation.”
Below are the key emerging trends for Black America in 2021, from a panel of experts working with AGSM Consulting on topics including business, education, media, medical/health, and technology:
- BUSINESS SECTOR – Employers search for employees across a global market. Companies are reaching out to emerging markets. Organizations are tapping talent from across the globe. In Globalization in transition: The future of trade and value chains, the McKinsey Global Institute noted the impact of globalization in today’s commerce: “Flows of services and data now play a much bigger role in tying the global economy together. In addition, all global value chains are becoming more knowledge-intensive. Low-skill labor is becoming less important as a factor of production.”
- BUSINESS SECTOR – E-commerce and digital platforms will continue to dominate the business landscape. COVID-19 reinforced the power of the digital economy. If companies did not have a digital platform in 2020 with the lockdowns, they did not exist. According to Shopify, global B2C e-commerce sales are expected to reach $4.5 trillion by 2021.
- BUSINESS SECTOR – A new work model is emerging. 2020 brought on an explosion in working from home due to COVID-19. Employees already wanted to have more flexibility in their work lives. They got it from employers. Companies responded by offering 70% of full-time workers the ability to work from home!
- EDUCATION SECTOR – HBCUssee a resurgence in student enrollment. Raised awareness of social issues, increased private gifts, prominent HBCU alumni gracing headlines, and the many historical firsts achieved during 2020 spurred increased interest and enrollment of African American students at HBCUs. For example, the University of Arkansas at Pine Bluff saw a 12% enrollment increase, the largest for UAPB in nearly ten years. North Carolina Agricultural and Technical State University listed enrollment at 12,754, making it the largest HBCU
- MEDIA SECTOR – Tough environment for public trust, advertising; but some gains in diversity: News consumers continue shifting from legacy media to digital options, exacerbating erosions in traditional advertising revenue – a major funding source for newsrooms. Surveys of the public show low regard for media integrity, especially associated with political coverage. Racial unrest sparked attention to diversity within media organizations, leading to the reassessment of content and promotions for several Black, Hispanic, and Asian journalists. In a tight market, job-seekers can expect more emphasis on in-demand skills – video, podcasts, storytelling, trustworthiness – for traditional and social media.
- TECHNOLOGY SECTOR – AI and other automation continue to displace workers and industries. Artificial intelligence is a disruptive technology. Individuals should not seek to fight AI but work beside it. Thousands of jobs are being automated. According to a 2013 Oxford University study, nearly half of American jobs are at risk of being taken over by computers by 2033. Small businesses can leverage technology by empowering their employees to utilize AI where appropriate so that that technology is not viewed as a negative.
If individuals in the black community can empower themselves by understanding and acting on emerging trends, the future will be brighter for Black America in 2021.
To reach this panel of experts, please contact Dr. Green at email@example.com.
About These Panel Members:
Dr. Daryl. D. Green, DSL:
Owner with wife Estraletta of AGSM Consulting LLC, based in Tennessee. Professor and Dickinson Chair of Business at Oklahoma Baptist University. Retired from the U.S. Department of Energy in 2016, after 27 years as a senior engineer. Speaker and author of several books, including Job Strategies for the 21st Century, Small Business Marketing, and Marketing for Professionals.
Dr. Gloria Thomas Anderson:
Assistant professor of social work, North Carolina State University, and author of a CDC-recommended resource book for advance care planning called The African-American Spiritual and Ethical Guide to End-of-Life Care. She works extensively with healthcare and hospice organizations on implementing equitable healthcare decision-making strategies that include advance care planning (ACP) and end-of-life (EOL) care options for African-American communities.
Professor and Distinguished Chair in Media Ethics and Writing, Reynolds School of Journalism, University of Nevada, Reno. A former editor for Gannett Co. at newsrooms in Florida, Washington, D.C., Pennsylvania, New York, and Detroit.
Betty H. Blackman:
Nurse, Knoxville, Tenn. Owner of Health Spectrum Worksite Solutions, which provides health and safety training and consulting. The past executive director of People Empowering People Project (PEPP), which raises health awareness within the community. Consultant for corporate and private organizations.
Dr. Trina Jackson:
an Associate Professor in the School of Business, Logistics and Entrepreneurship at Ivy Tech Community College in Northwest Indiana; U.S. Army veteran; doctorate dissertation was on “Community Response to Veterans Overcoming Barriers to Education.” Continuum of Care organization focused on homelessness in Northwest Indiana.
Source : AGSM Consulting LLC