Technological innovation is changing business models in many sectors. Tony Qui explains how a business should approach a transformational acquisition.
Digitalisation has created major opportunities for businesses in today's rapidly evolving market. Consumer appetite has undergone a paradigm shift and we now expect everything to be attainable at the touch of a button. Fast-developing technologies offer customers greater choice and convenience, and the ability to perform transactions anytime, anwhere. This change has forces businesses to focus more on the customer value chain as ooposed to traditional product or supply chains.
Digital technologies also offer businesses the chance to better understand and engage with customers, and the ability to develop new products or services driven by data analytics. Those who embrace this new wave of technology, and see how their businesses can best use it, will prosper. Those who fail to recognise the shift in market expectations could fall behind the curve, leaving room for their rivals to overtake them. The impact that digitalisation is having on current business models is therefore game-changing.
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