How Rapid Technology Changes Can Harm Us
How technology is changing the way we have to work.
I have very close friend who is facing the ravages wrought from the effects of new technology. This friend found a market and went right out on a limb to start a business that became very successful. For a period of time.
About 20 years ago he borrowed vast amounts of money to exploit the current technology for duplicating sound onto cassette tapes. We all used cassettes for playing our favourite music, listening to books, following training courses etc. As the business grew they realised there was higher margin to be made by concentrating on the spoken word as opposed to the cut price music reproduction.
The capital cost of founding the business was huge. He prepared a business plan, got participants' from the industry involved and secured the capital to get the high cost high technology equipment to start the business.
There were early sticky moments but they overcame them and because they had bought the most technically advanced equipment they were able to offer superb spoken word reproduction quality. This led to the business becoming the leader in UK duplication from spoken word master tapes.
Employing the then cutting edge technology and recording services they worked with many notable people including Margaret Thatcher reading her memoirs. The business prospered and all of the loans were paid off. Peak performance came about six years ago shortly after the introduction of more new technology - Compact Discs.
From about 6 years ago a steady decline in volumes started as CD's became more established. Because of the high capital cost of investing in CD plant they decided to ride the cassette business as far as it would go. The new CD reproduction technology really took hold in volume terms in 2005 and volumes for cassettes have now slumped to unviable levels. Yet we also hear that CD volumes are declining as music downloads from the internet are becoming more popular.
The purpose of relating this is to indicate in this fast moving world successful businesses come and go and we are at the mercy of change. It's essential that we keep our skills and knowledge upto date while staying abreast of the changes in technology. Where do you stand?
Related Tags: technology, information technology, new technology
Resource Box: Article by Michael Harrison, Author, Publisher and Business Consultant.
More at www.be-your-own-business-expert.com/Write_Articles.html
Subscribe for your Free weekly newsletter. Information for career and business minded people. Subscribe today www.be-your-own-business-expert.com/Bulletin.html Access our archives when you subscribe.
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- Free Internet Security Software from Google
Selecting the internet security software for your computer can be a daunting task for most home user - Home Key Logger - Track Computer Activity
What goes through your mind when you think about a home key logger? Do you think about a rogue progr - Computers and Electronics Have Changed The Way We Live
You push the on button and your monitor screen springs to life. Next, you use your mouse to bring up - What PacketShaper Can Do For You?
What is PacketShaper?It is an application-intelligent traffic management system which delivers predi - Key Logger Software for Your Computer
One thing that many of us are concerned about is the safety of our children and what happens when th - Keep Your PC Healthy With Computer Tips & Tricks
Everybody just has to have a computer these days. Life without a computer is unimaginable. I am sure - Antivirus - What is a Computer Virus?
Before understanding what a computer virus is, it is necessary to understand what a virus in when it - Gibberish Spam Email - Why Do Spammers Send It?
We have all seen many spam emails that just make no sense. They contain pure gibberish in the subjec - Your Children And The Internet - 5 Tips To Keep Your Children Safe While They Are Online
If your children are on the Internet you may be concerned about their safety. We hear stories regula - How To Compare Residential VOIP Offerings
Many people are turning to VOIP phone for several different reasons, the biggest reason being cost.
Most viewed articles in this category:
- Experience the new Microsoft Zune and Future Technology with Bill Gates at CES Keynote
After the demonstration of Windows Vista by Bill Gates at the CES keynote, Robbie Bach, President of - Internet Connection Sharing in Windows XP
This articles explains in detail how to set up a small network at home so you can share your Interne - Nortel VPN Client Overview
The Nortel VPN Client creates the secure connection for VPN users into a private network. Once you l - Computer Phobias
Years ago around the end of January I would develop Chinophobia (fear of snow). Maybe it was becaus - CCTV: the story continues
CCTV – Closed Circuit Television – for some time at least has been used by various gover - Why Someone Stole My Mobile Phone
Not so long ago my mobile phone was stolen. I kept asking why I was the one who got targeted, especi - iPod Stuff: How To Set Your iPod's Alarm Clock
The good thing about the iPod alarm clock feature is that you can wake up with the tune of your favo - Office printers: introduction to technology and types
With every bit of information transfer and manipulation going digital these days, almost the entire - Computer hardware simplified
Computer Hardware is a comprehensive term which refers to all the physical parts of a computer inclu - Cordless phone technology: a brief history
Cordless Phones – as the term suggests – is a phone sans any cord. Instead the handset c