Management consultant, Peter Drucker said, “The 21st century is a century of the triple C’s, accelerated Changes, overwhelming Complexities and that of a tremendous Competitions. This is an amazing century, knowledge is fast increasing, and things are changing. For us not to be swept by this wave of change, we need to know how to respond effectively. In your life, career and business, you need to embrace change. Those who do not embrace and welcome change, end up being the victims of change. Change is constant, it’s no evil and it’s for the benefit of all.
The Swiss Watch Company was at a time, the king of the time Piece World. The company controlled more than 80 percent of the market. During this time, one of its young researchers along with a number of his colleagues invented a new more accurate and entirely electronic watch. The Swiss Watch Company stuck to her mechanical watch. Not too long, other companies took the idea of the electronic watch and it revolutionized the watch industry worldwide. Ten years later, the Swiss Watch Company had less than 10 percent of the world watch match profits. Out of its 65 thousand employees, 50 thousand were sent to the job market.
The Swiss Watch Company although bounced back from the fall, never recovered from the shift in watch making.
Before the advent of Global System of Mobile Communication (GSM), the Nigerian Telecommunications Ltd. (NITEL) held Nigerians to ransom. To get a land line to their home or office was a Herculean task. The bills were outrageous. For those who wanted to use the Public Pay Phone, you had to queue before you could make a call. The service was simply bad. Just as the G. S. M operators were licensed and began operations, things began to change. Mobile phones are so common that a primary school pupil now carries one. NITEL lost out. The Public Pay Phone System had to be phased out because it couldn’t meet the challenges of the times. All the profit NITEL could have made are now been shared among the GSM operators.
The world is now a global village. Can your career or system of doing business survive the onslaught of international business gurus?
If you you're yet to tap into the world of technology, it's high time you explored it!
