The Importance of Change for the Growth of Modern Businesses

The Importance of Change for the Growth of Modern Businesses

Document details
Category: Business Studies Essay
Subcategory: Business Administration
Words: 817
Pages: 1

Published: Friday 8th of November 2013

Companies of today must respond to change to survive the future. Change is inevitable-growth is optional. Change forces all business owners to adapt, adjust and be energetic in building their businesses. After all, there are only three things a company can do with change ignore it, adapt to it or embrace it. By focusing on new ways of doing things, a company can revitalize their business. In particular, marketing in new ways and with different strategies not only simulates new business, but also gives a company a new vision on productivity. Advertising Companies will need to use their resources wisely as technologies and quick markets will leave companies trying to find their way to the door. Spending millions of dollars to make a product unique is a thing of the past with technology and the ever changing buying patterns and competition companies will have to use those dollars to emphasize their company values not specifically their product. Additionally education will play an important role as markets and technology is rapidly changing. Companies should develop a culture that encourages and fosters new ways of looking at things. They constantly should strive to create, develop, test and refine ideas. Organizations and associations are resources and committed to offering ideas, information, data, conferences, publications and more. In addition, local college continuing education classes, public workshops and even the library are resources that can be utilized. Learning about new ways to hire, train and motivate employees, for example, can be critical to success-especially because the labor market is so tight. Keeping abreast of trends in marketing (i.e. electronic communication, direct mail and response, telemarketing) also is important. As an independent business person I have used educational means to stay adept to new technologies as well as keep the quality of my work more personalized. My philosophy is based on quality and not quantity and has worked and if business forces me to expand I have the ability to change...

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