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What are the risks for companies moving into new areas of business made
possible by fast-changing technology? The main worry for ...
... The risks of diversification can be minimised by moving into related markets (Ansoff ...
that different strategic options are suitable for companies operating in ...
... offshore without considering all of the risks usually find themselves moving their
operations ... open new markets and foreign investments, companies must be ...
... But companies are not moving into Asia without exercising due ... Risk Because of the
crisis, companies have been ... strategic, operational, and hazard risks as they ...
... Companies should evaluate each possible factor of ... But considering all the risks
and opportunities facing a company moving into either China or ...
Submitted by blurgh on May 3, 2006
Category: Business
Words: 939 | Pages: 4
Views: 172
Popularity Rank: 69,069
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The main worry for any business planning to enter a market that utilises technology which has a high rate of change would be that anything they invest in today would be outdated tomorrow. Apex is a typical example of a company that was around when the internet was an emerging technology.
The internet wasn't the only new area that Marina was looking to explore. She also suggested producing menus for film productions published on the most common optical media at the time: the Compact Disc. With the benefit of hindsight one may think it would have been an excellent move for company such as Apex to grasp opportunities they had to enter the market for website design and also to start working with Video Compact Discs (which would've been good preparation for when the DVD came into existence). But the decision to move into these new areas of work is not so easy.
When a new market is created out of technological advancements there are two things a company can do: be the first to service the market hoping to grab an early customer base, or secondly they can enter the market later but with a product that is superior in some way. Marina believes that Apex would have a sufficient amount of interest in the new products that would come from existing customers. These customers would expect the same quality of product that they received in earlier dealings with Apex. Now if Apex were to try to become the early bird in web design as the internet developed, it is possible their product would not be up to scratch. So it seems clear to me that for Apex the best course of action would be to wait until they have a rock-solid foundation in web design (the correct equipment and staff training) before they start selling their product.
A recent example of a company that entered a new market created out of technological advance first, and failed, is the Three mobile network. In the year Three started doing business, between the months...
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