A CTO's perspective:
From a technology management perspective the simplified answer is ‘not adapting early enough to business environmental changes such as technological developments, new legislation’.
As technology and change consultants we are approached by business owners/managers each day who are experiencing this phenomena. Let's use retail as an example.
Those retail stores who did not respond early enough to providing customers with an easy to use e-commerce option that made browsing, buying, delivery, returns and refunds a seamless process either suffer to make ends meet today, have closed down, or have been taken over by e-commerce companies. Debenhams is a recent example in the UK.
This outcome is a disastrous result for the business whose purpose is to remain open, competitive and profitable.
To find out how to overcome this phenomena contact us on (+44) 01858 456165
Specialising in affordable business management solutions, ToodGlobal work with clients to provide solutions that maximise the potential of their business through modernisation and developing strong competitive advantage that aim to increasing the customer base and revenue.