In 250 words or more Many of you have noted that the idea is not enough. It take
ID: 412132 • Letter: I
Question
In 250 words or more
Many of you have noted that the idea is not enough. It takes understanding the environment, and the process and effort needed to bring the idea to market and to keep the business growing in the face of setbacks. Over the past century, we have seen the power of technology to reshape our society and make the most perfect products, and the companies that produce them obsolete. Consider: The "buggy whip." or "Failing Like a Buggy Whip Maker?" refers to the idea that although you are making a perfect product, disruptive technology has made you product obsolete.
What other products/companies have you seen disappear in your lifetime? What technology led to their downfall?
Explanation / Answer
Yes, it's definitely true that ideas are not enough but need to effective implementation with strong monitoring .
One things that always need to consider that walking with technologies and changing trends always keep the company and business safe .
In this volatile world , changing with situation are essential and only those organization retain which have strong vision .
Ideas need to bring in practical forms so that business operations and growth possible .
As we have seen that several organization and products disappeared from the market because of not changing according to the business environment and changing market trends .
Changing technologies have given us some perfect products with disruptive features .
As several products and companies we have seen disappeared from market and due to the advancement of technologies .
One well known cellphone's manufacturing company Nokia and company hindustan machines tools .
Nokia was the one of the leading cellphone's manufacturing company and the company was strong presence in market ,even company for a couple years captured the asia market but due to technologies enhancement company became out from cellphone's market ,all these things due to change in features of smartphones like android version , basically company was under estimated the features of smartphones and introduction of new technologies.
Companies like Samsung, Motorola and other smartphones manufacturing Companies save their markets by changing itself according to the market requirements .
Market research and new products development that leads to market expansion and acquiring more and more market share .
One social media portal Orkut that lost its market presence due to lack of expansion plans and not offering a multifunctional plateform to users .
Social media portal disappeared from the internet and new social media portal like Facebook, Twitter and LinkedIn take it's place .