Question

It was presented in the Konica Minolta video exercise that they needed to change their business strategy due to the advancements of technology. Please discuss a change or two that you have seen evolve in your lifetime that may have put stagnant organizations in jeopardy.

I want different answer what it posted

Answer 1

It is a good saying "The only constant thing in this everchanging world is change". External environment undergoes constant changes and if any firm does not keep pace with the same, it might get vanished from the market completely. Nokia, a mobile manufacturing is one such example. In the period of 2000's the company was highly satisfied with the highest market share drawn by it. They didnt focus at all on the advancement in technology the world is going through and the transition from an inferior operating system to the superior operating system. Nokia's operating system Symbian was much inferior than the operating system of Apple (iOs) and Android and they were adamant enough not to change the operating inspite of poor response from the users.

Due to this adamant behavior of Not to change, Nokia got vanished from the market.

Another example is of Hindustan Motors, manufacturing Ambassador cars. The company was enjoying its monopoly in the automobile market in1980's and was not ready to change. They were quite adamant to continue with the big, bulky model of car with low technology and availability in only two color variants White and Black. As a result when other automobile companies with advanced technology and better variants came to the market, the company started losing the market share and got completely vanished.