Since 1990 and the introduction of the Internet in 1995, the world has been flooded with products that are often me-too in nature. Anyone can make a product, and there is always someone who can make a better one than what is already on the market. As a result, the market suddenly became full of me-too products, as well as a range of open-source product alternatives.
For every enterprise or consumer market, there is only a short amount of time to handle and process what is on the radar. As such, many companies that were once successful and known for being direct companies have suddenly shifted towards becoming channel-first companies. This is because they have hit a bottleneck, and no one else will assist them due to not being a channel-based business.
No company can survive without appreciating the beauty of the ecosystem and how each one is working together for the greater sum. Internally, not all in-house programmers have the time and passion for product development for their lifetime. They may have other more innovative and exciting ideas that they want to pursue. As such, products often rise and fall within a period of around 10 years.
In the new age of coexisting with AI, it is not merely people or talent alone that can make a company successful in the coming years. This is why many great companies have performed massive layoffs and replaced their human employees with software robots. They are fully aware that if they do not do so, there will be consequences in the future. In modern times, opportunities arise and close at the speed of light. However, humans cannot be reprogrammed and have their habits changed instantly. Therefore, in some extent, the way companies handle human capital will determine their future and how they want to compete.
Every product undergoes a product lifecycle, some take longer, and some take a shorter time to complete their lifecycle. Therefore, it is not surprising to see products being sold or acquired because their value is no longer worth being in a company’s portfolio. IBM has a long history of buying and selling products when they no longer fit their strategic focus. They take action when necessary to ensure their continued success.
As companies navigate the ever-changing landscape of business and technology, it is essential to understand the importance of a strong ecosystem, the product lifecycle, and the impact of AI on human capital. By embracing these concepts and making strategic decisions, companies can position themselves for success in the future.
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