The death of the high street should serve as a major warning to businesses about the changing times we live in. Some high streets are still successful but these are typically located in densely populated areas. There are also discontinuities in relation to types of businesses. I find it hard to believe that, without major transformation, the sale of physical media such as CD’s and DVD’s will continue for much longer. Companies such as HMV would have proved to be a major draw for city centre shopping fifteen years ago but now the company is struggling through receivership and I worry that at any price the new buyers will have made a less than prudent move.
So what are the discontinuities of the future? Will retail be hit harder and harder by online sales? Can businesses do something to protect themselves?
While it is hard to know which sectors will be the next to collapse under the weight of its own evolutionary failings, the decision makers of businesses are by no means helpless. The most important thing to do to protect your business from becoming obsolete is to stay ahead of the curve in relation to adopting cutting edge technologies or products relevant to your sector. In my next entry I am going to illustrate how any business can safe guard its future by doing this. I have found an Irish butchers which should serve as a shining beacon to any business unsure of how to modernise.
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