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Technology moves at a lightning speed, and keeping up can be costly...

Adapting has never been so important for businesses

Date: 12/02/2013
Author: Peter Garrett

Almost every single business and organisation in the UK will be, or has already been through, a process of belt tightening. A period of economic decline has taught some important lessons and as a result many household names are sadly, no more.

One key lesson which could be learnt from many of these case studies, is the need for adapting and changing to modern society. Technology moves at a lightning speed, and keeping up can be costly for those who don’t know what they want and don’t understand the decisions they are making (or not making).

It is no longer good enough to simply have a well known brand (as found with HMV, Comet, Jessops and Woolworths). Adapting to the requirements of your customers or audience, needs to be the pinnacle of your business strategy.

Recognising that there is change in behaviour is fundamental. Understanding the need for high quality engagement and market exposure is vital.

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