How can businesses adapt to changing technology?
Author : Senior Writer at Chaturideas
Posted : 3 years ago
changing technology, india, business, ecommerce, mobile, enviornment
22Feb, 2015

So you are reading this article on your fancy tablet with an updated OS. You are simply pinching and zooming at times just for fun or out of interest. This is nothing but you adapting to the changing technology. Earlier you read newspapers and most of your daily updates came from there. Now ask yourself if the internet also feeds you with equal information or not. If you are nodding your head and you agree with the above statements then my friend you have adapted to the technological changes around you. And if an individual can, they why shouldn’t businesses?

Here is how business can adapt to changing technology:

Survival of the fittest

Charles Darwin back in the days suggested that we live in times where the world is a global jungle and only the fittest would survive. That holds true till date and those who do not adapt quickly either perish or struggle. For businesses, it is vital that they embrace changing technology and keep pace with it. Where is one-time camera industry giant Kodak now? Why has blackberry transformed from being a businessman’s comrade turned into the spare phone of his household? The answer is simple, inability to adapt, adapt and change with technology.

 

Marketing has its own web

With the e-commerce boom, it is very evident that selling products on the web is as vital as having a physical store. Not just selling but also promoting them using tools like social media, e-mail marketing, etc has become vital. As a business person, you must employ these modes right from the onset. It no longer is a first movers market and rather has become mass audience acquirers one. Something very simple and basic has now gone digital too. Finest example being Bookmyshow, who took something as simple as movie ticket booking to the next level. With being less than 8 years old, the brand is currently valuated at USD 166.67 million, which when converted to Indian currency would enable you to buy a small city or two.

 

Look at it as your ally

As a businessman, you should always look at technology as your best friend. A friend who is loyal and is always available to make your life easy. A friend who does everything from religiously transferring your messages from one place to another to allowing you to speak to a potential customer from Czechoslovakia. Imagine selling 20,000 units of your product in 2.4 seconds. Does it seem possible? Maybe not, but with the right kind of digital push, publicity and marketing, Chinese mobile phone manufacturer Xiaomi achieved these numbers in India not too long ago.

Lots of people have reservations with regards to completely relying upon technology with threats like phishing lurking all around. But you must come to terms with the fact that technology enables you to do more business comfortably. The best way to describe the potential that technology possesses for your business is best described by Arthur C Clarke when he says “Any sufficiently advanced technology is indistinguishable from magic.”