Changes in the Industry
Changes in the Industry: Changes can be just as important, if not more important, than the underlying structure and nature of the industry. Especially for a new or less established company, changes may affect you the most. Not being wedded to the old ways of doing business you may be better able to design your company to take advantage of the changes going on in the industry. On the other hand other kinds of changes, such as a trend towards industry consolidation, make it even more difficult for a small, new firm to succeed, especially without a clearly distinctive product or service. When you examine trends currently underway you should discuss where you think the trend may lead. If it’s not clear where a trend may lead, you may want to describe two or more different possible scenarios for the industry that may result. And you should discuss implications of the trend. [WooZoneProducts asin=”B00KZZC2TM”][/WooZoneProducts]Sometimes an important implication of a major trend will be a shift in power towards a particular part of the industry such as suppliers (or suppliers of a particular component) or to retailers or to wholesalers or to service providers or to manufacturers.
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