Maintaining sustainable growth continues to be a top priority for every top management. For companies that remain in the single product and in such inertia and no more in the innovation, in the very risky position to get extinct from the market. Better product is to keep inventing and rolling into the market. The market does not lack the better product, if legacy one can not improve to catch up with the modern generation of requirements, what we may expect from them will be a series of downhill events, decline in sales is just one of it.
For the average person 30k days over a lifetime, where 10k days is work time. How many people can maintain the same passion and willingness to innovate and take the risk all the time, the chance is rare to happen in the market. As such, old and legacy products are destined to fail eventually in the market, either forced out to the business, unless it can be self-renewal. Most of the typical product is under 10 years’ glory from rise to the peak and then sunset to decline.
Digital transformation, not about just adopting digitalisation, includes being willing to make the bold move to step out of the existing comfortable zone. From continuing conversation with the market to listening and understanding what the market needs, and making the product to fulfil it. Long gone is the era for over demand, almost tons of better products are invented each day, it matters for how you vision the next normal and years ahead of it.
It was surprising to see even though the company in the IT industry, not all will be able to keep evolving along the years, as the market changes. Business is a living entity collective that exists and depends on keeping providing what the market needs in exchange for the revenue.
What different good company to great and for those in the reverse, one of the important indicators we can see from the top management. Any company when it lacks the leadership, regardless of the size, it matters for being forced out from the business in a variety of ways.
E-SPIN Group in the enterprise ICT solution supply, consultancy, project management, training and maintenance for corporation and government agencies did business across the region and via the channel. Feel free to contact E-SPIN for your project requirement and inquiry.
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