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Business is Changing
It's common knowledge that the Internet
has enjoyed explosive growth and has affected nearly every
industry in every country in the world. It is changing how we
socialize, how we educate ourselves and how we do business. Just
what are some of these changes?
Continually Shorter Product
Cycles
Especially in the software industry,
product cycles are becoming shorter and shorter. Typically, a
software product goes through several stages before being
released; code is developed, the product is tested internally,
then possibly tested by the intended user audience, it's revised
and released for sale.
Yes, released for sale even though known
bugs or deficiencies are present. But these bugs don't affect the
overall efficiency of the product, and 'patches' to fix the bug
can be issued after the product's release and downloaded off the
internet. The product is out the door and in the market place
competing for sales even though it isn't perfect.
Instant Communication Forces Increased
Productivity
Studies reveal that today's businesses
have far less free time to ponder decisions. Email makes it
possible to instantly communicate with one another. In business,
this accelerated communication means that decisions are expected
more quickly.
Eliminated are the necessary time gaps
made possible with snail mail and slower forms of communication.
These time gaps must now be filled with increased productivity in
order to keep pace and compete.
Information Overload
Experts estimate that we have created as
much data in the last 30 years as our forbearers did in the last
3000 years. The Internet has made information instantly available
to everyone at any time. If your customers don't like the price
you quoted for your product, they can find a competitor on the
internet, check out their price and use it to negotiate with you.
Or, a customer can simply order the product online from your
competition. Internet users can even find out your wholesale
costs and determine what your markup is. Now that's
leverage.
Clearly the Internet has changed and
continues to change the way we do business. Are you
ready?
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