Category: Business

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Modern Business

Business is among the activities of humankind that require continuous development and implementation of changes to be successful. Sports activities can be compared with business in this matter. Therefore, continuous development is essential for any business. The contemporary business environment is highly competitive for any successful organization or company. There are different ways of gaining a competitive advantage to change the alignment of forces on a market, including innovations, the constant development of new technologies, marketing approaches, etc. It is possible to extend the product lines, open new offices abroad, improve customer support and perform hundreds of other operations to develop. Such an extensive market share increase is suitable for many businesses. It is one of the models from the past when corporations just grew, becoming international.

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Modern business, however, is more technological and, which is more important, requires appropriate reaction to changes in the business environment – partners, competitors, new technologies, innovations, legislation, political setting, etc. Therefore, the reaction to changes should be utterly quick (Andersen & Nielsen 2009). Models of development from the past either work only partially or do not work at all for most businesses. “Brute force” (simple piling up of product volumes and several sales points) in increasing sales might not provide the desired effect – the sales will not grow as predicted (Drucker 1988). It happens because modern customers are different. Today, it is necessary to use imagination to drive the business forward to more extent rather than exploit the organization’s physical resources.

The major difficulty for any company in the world today that competes in the open markets is the variety of offers. Customers have many options to choose from while searching for the goods that they need (Drucker 1988). Hundreds of companies create, develop, and produce millions of similar products to satisfy the demand. They compete with each other selling almost identical products but there are not so many very successful companies in the end (Andersen & Nielsen 2009).

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The Reasons

The reason is imagination. Most successful companies combine both innovative approaches in marketing, sales, production, etc., and extensive development (more points of sales, more products, etc.) (Khalil 1996). However, imagination plays a key role in their success. Unusual approaches to advertising, marketing activities and strategies, innovative features implemented in products – these are the small steps to the successful competition. Creativity became the most valuable asset for any company today (Jones et al. 2008).

The reasons are simple. Customers, as has already been mentioned, have access to many offers at the same time. They are “spoiled” by the diversity of products and want to have the best product for less money. Besides, the product must be unique somehow, different from the one the neighbor has – it is in human nature. It all means that companies must provide something so featured and good looking in addition to the adequate price and certain level of uniqueness that not so many players on any market are capable of this. Those, who are, use imagination (Kim & Mauborgne 1999).

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Such companies strive for innovations, new approaches to everything. They experiment and try something new every day to gain a competitive advantage. It is the main global strategy today for the leaders in every industry. The creative approach allows companies to be competitive, effective, and expensive. Only the leaders have the power to shape the market and be its driving force. It is possible that images of some made the world as it is today. It should be noted that new startups and business ventures are created every day therefore, the process of changes, based on imagination is continuous and impossible to be stopped. Technological progress made possible the implementation of imagination into real things so there is a place to develop in the future. 

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