Major Disruptions Expected in the International Business and Economics Environment in 2024

IMT Hyderabad, 29th Feb 2024: Institute of Management Technology (IMT), Hyderabad had the distinct privilege of hosting Prof. Markus Leonhard Keiper, Marketing Professor, Executive Education and Program Director - NUS Business School, Singapore, as the distinguished speaker for its Global Immersion Program (GIP) session held on 29th February 2024. The session centered on the discussion of "Major Disruptions Expected in the International Business and Economics Environment in 2024." Prof. (Dr.) Nitin Gupta, Chairperson - International Relations, IMT Hyderabad, welcomed the speaker, after which Mahak Shyamsukha, a first-year PGDM student, briefly introduced the distinguished speaker to the audience.

Prof. Keiper's address revolved around the profound transformations expected to shape the global business and economic landscape in 2024. With insightful deliberation, he highlighted several key disruptors across various domains and meticulously explained their potential impacts on businesses worldwide and the broader economic environment.

Addressing the geopolitical landscape, the speaker underscored the ongoing Russia-Ukraine conflict and its implications alongside the evolving dynamics between major powers like the United States and China. He elucidated the far-reaching impacts of these geopolitical tensions on businesses.

Delving into the realm of consumers, Prof. Keiper emphasized the era of hyper-personalization and its impact on marketing strategies. He discussed the role of generative AI in reshaping education and elaborated on the three main categories of personalization and their significance in contemporary markets.

Transitioning to the context of social dynamics, Prof. Keiper shed light on the influence of social media on consumer purchase decisions, highlighting platforms such as TikTok, which are revolutionizing live shopping experiences and personalized advertisement. Furthermore, he focused on technological advancements and their rapid evolution, offering insights into market opportunities and the transformative potential of generative AI. Prof. Keiper also touched upon critical issues of environmental sustainability, underscoring the urgent need to address climate change in the face of global challenges.

The session culminated with an engaging Q&A round, where students posed thought-provoking questions, contributing to the depth of discussion. Prof. Nitin Gupta thanked Prof. Markus Keiper for his invaluable insights and profound contribution to the session.

After the session came to a close, students expressed their deep gratitude and conveyed their appreciation to the speaker for delivering such an illuminating discourse.

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