Factoid Friday – The Market Has Changed… Where Were You?
Markets are always changing but companies don’t always recognize the changes. According to Harvard Business Review Daily Stat 1/4 of all households now only have a cell phone and no land line. How have you seen the land line market change because of this shift in the market? How do you see traditional land line companies changing their business models to accommodate a higher rate of cell phone only households?
What if your business had such a shift? How would you respond? How does your business system adapt to a changing market? Is your business system able to :
1) recognize a change in the market quickly
2) change your operations to meet the demand
3) deliver a high quality product/service
4) deliver the product/service at a competitive rate
5) fosters a flexible work group to deal with changing demands and day to day operations
If your business system cannot do all of those items listed above then what are you going to do when the next market shift happens in your segment?