Business is Changing

It's common knowledge that the Internet has enjoyed explosive growth and has affected nearly every industry in every country in the world. It is changing how we socialize, how we educate ourselves and how we do business. Just what are some of these changes?

Continually Shorter Product Cycles

Especially in the software industry, product cycles are becoming shorter and shorter. Typically, a software product goes through several stages before being released; code is developed, the product is tested internally, then possibly tested by the intended user audience, it's revised and released for sale. Yes, released for sale even though known bugs or deficiencies are present. But these bugs don't affect the overall efficiency of the product, and 'patches' to fix the bug can be issued after the product's release and downloaded off the internet. The product is out the door and in the market place competing for sales even though it isn't perfect.

Instant Communication Forces Increased Productivity
Studies reveal that today's businesses have far less free time to ponder decisions. Email makes it possible to instantly communicate with one another. In business, this accelerated communication means that decisions are expected more quickly. Eliminated are the necessary time gaps made possible with snail mail and slower forms of communication. These time gaps must now be filled with increased productivity in order to keep pace and compete.

Information Overload
Experts estimate that we have created as much data in the last 30 years as our forbearers did in the last 3000 years. The Internet has made information instantly available to everyone at any time. If your customers don't like the price you quoted for your product, they can find a competitor on the internet, check out their price and use it to negotiate with you. Or, a customer can simply order the product online from your competition. Internet users can even find out your wholesale costs and determine what your markup is. Now that's leverage.

Clearly the Internet has changed and continues to change the way we do business. Are you ready?