Change and live or maintain the status quo and die!
It is a foregone conclusion that products do have ‘life cycles’ and for businesses to survive in this modern world, they need to continuously create new and improved products to match the changing needs of the consumer. Gone are the days when businesses were dedicated to maintaining the ‘core’. Apple was never a competitor of Microsoft, Dell or HP in the ‘PC’ market, they found their ’niche’ with consumers who were not afraid to spend ‘big’ bucks for a product that they wanted.
Apple realised that to go to the next level, they needed products that were new, innovative and relevant. They found their new space with the Ipod and all its spinoffs. This is the driving force behind successful businesses today. Some companies achieve this through buying other companies and face the challenges that follow such as integrating both businesses. Others set aside resources for research and acquire the necessary people skills to get the job done. Whatever the strategy, the need to be flexible, to change in order to survive cannot be over-emphasized. The frightful thought is that this principle also applies to individuals. If we do not change, improve our skills, knowledge etc., we will find that the world will pass us by.
What do you think?
What is your outlook? Is it bleak like the picture above?
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