Business changing in America The bloom of America has brought more than prosperity; it has brought much change, especially in the business arena. Business education from the past has become almost obsolete due to such drastic changes in the way that the American economy moves.
Technological Change When hear of the fifties or sixties, we often think of powerful corporations moving their tentacles around the economy. This has changed as power continues to shift from the government and corporations into the hands of smaller entrepreneurial business. While change has been seen in this shift it has also been apparent in the technology. Not only has technology brought better customer service and conveniences of communication in businesses but it has also brought with it all around new markets to enter. Technology has brought a wealth of information to the doorsteps of businesses. Those who have capitalized on these opportunities have found much more than added innovation but a whole new way of doing business. An amazing thing happened as America increased its technological output. People were able to store all of their files (which they stored in a filing cabinet before) , in their personal computers. As Laptops became more popular people were able to take their offices with them and do business as usual while traveling to appointments. People were able to create an online presence for their business and it became a legitimate way of marketing.
Dynamics of Business As the dynamics of business have changed many of the same principles that made merchants successful still remain but they are applied in a new and ever-changing environment. Small businesses are able to adapt to this versatile environment because of their flexibility. Another major change that occurred in America with the technological advances was the beginning of outsourcing. This allowed business to lower costs and use human capital even as far as India.
How many times have we gotten a telemarketer calling us with little to no understanding of the English language? This is a perfect example of outsourcing. Although controversial, it has been an efficient allocation of business and it is been very efficient at providing businesses a reasonable way to source hard projects for reasonable prices. Outsourcing is also efficient at keeping business small in order to maintain their adaptive advantage in the market place. Ultimately business that did not adapt quick enough to the insurgent online marketing schemes were passed up by the adaptive businesses. Following the crowd would have been the thing to do at that point. Now more than ever it is key to gain a modern business education that covers these advances thoroughly and provides you with the skills and knowledge you need to take on some of the online challenges. Those who chose to pursue this education are found much more capable in the modern economy. America will continue to advance with or without the business people who led the charge. This technological Darwinism will provide us with the most up-to-date ideas and changes while leaving behind the weaker links. Photo Credit: Kolobsek , Ayla87
Published on Sep 24, 2013
Business is a constantly changing industry. It's important to realize this and keep up with the changes if you want to be successful.