Business houses folding up could be for a variety of reasons. That they failed to keep up with the times being not too uncommon. While plus-points like affordable price, efficient performance, consistent quality and prompt service do generate loyalty, continuing with a product that has remained unchanged for years together bears a stamp of ‘sameness’-- this lack of any new feature dampens customer enthusiasm. In this modernity driven age every advancement becomes a fad, quickly demoting the existing model to ‘out of favour’ status. Recognising change is what catches popular fancy (translating, significantly, into revenue), present day managements devote increasing attention to aspects below, hitherto not considered serious enough.
Reboot (ideas and mindset)
Repeating old practice soon becomes second nature and habit so formed act like blinkers, directing sight along a well-trodden route and indirectly discouraging....
