January 3rd, 2008
Categories: Brand Strategy Development, Competitive Analysis, Consumer Trends & Forecasting, Global Strategy Development, Growth & Diversification Strategy
Developing technologies are not a new concept but the rate of development seems to be at an all time high. The amount of information, technology, innovation and development is changing every day. Take a look at your cell phone. First of all everyone probably has one. Then think of how old your phone is compared to the latest model available. Do you have a full key-pad and the ability to record video to send to your friends? If you want to see what is going to be coming in the future look at what Japan is rolling out and just think we will probably get it in the US in a year or so. This is an article from MSNBC.com that was news in 2005, Next Hot Cell Phone Trend: Reading? It’s fairly safe to say that “texting” really took off in the US in 2006-2007.
Anyway you look at it, it is important that companies look at their growth strategy and what they will do to diversify themselves from the competition with all the technology that is available. Try and think of the technology that isn’t currently available that will be developed in the coming years.
If a company is comfortable where they are at right now is already losing ground in the future. There can never be a sense of “That’s it, were done” when it comes to a company’s growth strategy. The end is never reached, it just continually gets pushed to create more opportunities and another achievement.
We help our clients look at themselves and find ways that they can grow in an industry and other possible avenues to expand into. Where is the growth going to come from? Internal development? External influences? Market change? Consumer Trends?
Here is a good video that puts growth and diversification into perspective for the future. This video was posted in February of 2007.
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