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Importance OF Innovative Technologies

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Question:

Why Good Companies Fail to Thrive in Fast Moving Industries and Discovering New and Emerging Markets.

 

Answer:

By nature disruptive technologies need to think out of the box to design their new markets in small and an easier way of using. The companies in this industry use patterns such as differently packaged architectures and using such products with magnetic data storage ability. In addition to that there are other patterns that are used for establishing the improved performance of the technologies. The firms are finding new application that can be used in the market; therefore the companies can sustain the huge forthcoming changes in the market. They are finding new applications which will help the products of the companies involving new features according to the requirements of customers.

For sustaining the emerging and new markets the companies also require to collect the new information regarding the market trend. From different kinds of data sources the companies forecast the market trends of the industry so that they can adapt new strategies. Developing relationships with other companies and their executives would also help the companies to expand together and find common strategies for further sustaining in the market. Considering the history of famous companies, it can be seen that the companies tend to combine their manufacturing strategies with a clever designing for having a competitive edge in the market. For the strategy reminiscent, the market innovations are necessary for uplifting the brand within the market place. For instance, Intel corporation has first launched their revolutionary development on the MOS technology for producing the first ever DRAM integrated circuits. Therefore the company became the most profitable business in the year 1995 due to such innovations. However at the same time the companies which could not cope up with such technological innovations could not survive in the competitive market.

For creating a long life and a sustainable time for the company the companies require thinking beyond their previous technologies and the existing business. Moreover they need to create several opportunities not from the existing ones, rather from the different kinds of innovative technologies according to the market needs. While adapting such innovative strategies for the market improvement, the companies should consider few things such as, the investor and the consumer requirements should be kept first, also while entering a new market, the companies should not wait for the market to expand, rather they should utilize a fresh market for their further business expansion.

 


If the companies do not follow such strategies for their market expansion, so that they can satisfy the market and customer needs. In addition to that the companies should also have a backup plan for each plan; there can be several ideas that can fail however there is a huge difference between the failure of a certain idea and failure of the entire company. There should be experienced and innovative manages who can establish the company in the emerging market. Adapting the disruptive technology with sufficient time and money will be a smart move for the companies in the new markets; otherwise failure of the companies goes higher.

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