Competition and development of new technology help

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Reference no: EM133677182

Question: Companies that adapt to and capitalize on economic convergence can still make distinctions and adjustments in different markets. Persistent differences in the world are consistent with fundamental underlying commonalities; they often complement rather than oppose each other-in business as they do in physics" (Levitt, 1983). This quote made me think about how a company can capitalize/experiment on small/low risk business ventures and then apply those new ideas to larger ventures. An organization has to constantly accept the changes that are happening around them to take advantage of different opportunities in the global marketplace. As Leonard Sweet said, "Stagnation is death.. If you don't change, you die. It's that simple. It's that scary" (Sweet, 2001). If an organization continues to do the same thing without growth, some other company will come up with something better. Competition and development of new technology help drive organizational change required to stay competitive in the global market.

Reference no: EM133677182

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