If a company does not evolve and adapt to changing market needs, it will find itself wastefully spending away valuable resources such as money, people, time - trying to either repair the damage made by ever stronger competition or clean up the inefficiencies that has resulted from slow and rigid systems and processes.
Market Scope and Needs
Why should one adopt these changes? It is simple, because all economic factors around our commercial world change rapidly. The requirements and needs of our ever demanding customers are always changing and it is vital that we change along with them. The scope of our market expands with the growth in information technology, and employing technology to better and faster serve our customers is clearly a strategy that makes real sense.
Changes in market needs, widening market scope or even the evolution of completely new markets are commercial facts. The internet alone has opened so many new opportunities for business and revenue. If an organization is unable to dynamically evolve and meet these needs, or capitalize on these opportunities, competition will leap ahead. Competition is fierce in any context and competitive advantage is often a very thin and delicate line, one that can be easily crossed by the rival. Effective adoption of information technology result in visible competitive benefits that propel the business ahead of the rest.