The world keeps on moving, evolving and surprising us with something new everyday! The 21st century has been like a speeded up technological revolution. The number of innovations and inventions done in the past decade exceeds the ones in the past century!
People are aware that the world is dynamic and they have to be constantly evolving to keep up with the current scenario. Electric cars were not even a thing until the past 5 years and the business of these vehicles is booming this year! . Due to the rising competition and changing industry trends, many automobile manufacturers who specialized in rugged combustion vehicles are shifting their market to luxury and feature packed electric vehicles.
A simple smart-phone has evolved exponentially in the past 5 years. The number of cell phone companies started in this span is more than we can count. This competition keeps the companies on their edge and we can observe that cell phones and service providers always have new features to offer every other month. The price of Smart phones and their service also fluctuates every now and then according to the market scenario.
The Pace of change is faster than ever!
A rigid set of ideologies is definitely not the key to survive in this volatile environment where the competitor is waiting to grab what’s in your plate! Many industries follow a similar set of strategies and work practices for decades even when there’s no visible growth. People miss the point that a strategy is developed around a problem and not vice versa. As the problem changes, our strategies should change accordingly. Every little practice or system should be questioned and made more efficient and up to date. This can help an industry keep up with the competitors and understand the needs of the consumers. Such industries never fail to stand out and always seek growth.
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