Change with Time and Technology

This world is moving so fast in terms of all things, esp. technology. This 21st century will surely witness and will be conquered by IT (Information Technology), BT (Bio technology) and NT (Nano Technology). Technology making huge impact on jobs, business and life too. So, one need to change and adapt with the current trends in the world to remain in the competition and face the challenges laying ahead.

Technology made huge difference in day todays activities and routines and hence many things gets outdated. To remain in this competitive era, one need to enhance his/her skillsets and should adapt with time to grab the opportunities. There are so many examples that we came across when it comes to the big brands who lost their market value and hence the brand in course of time.

We hardly listen “Kodak” brand nowadays which once had ruled this world with cameras. “Kodak” stuck with old analog technology and failed to implement digital technology which was in demand then. Same is the story of handset giant “Nokia”. It failed to adopt new technology and unable to make impact and attract its customers, and finally it was taken over by Microsoft. Same is the story of “BlackBerry” mobile. Later on, it was acquired by Toronto based “Fairfax Financial”. Why and how “Yahoo” lost its market value and meanwhile brand? It was a search engine who got opportunity to acquire Google in 2002 and rest is the history now. We hardly listen name of the Laptop manufacturing company “Compaq”. It was acquired by HP in 2013. Decisions, strategic planning, innovation, technical revolution, adaptation with the current trends, market needs/demands, etc. must be considered in order to remain live in this world of cut-throat competition. Mr. Achyut Godbole shared his views on the same topic in his article published on April 2, 2017.

Many unskilled people and/or those who failed to cope up with the change are being axed from the industries. We are aware of latest layoffs of 6,000 to 10,000 employees by IT giant Cognizant. There may be several other issues involved, but it is for sure that, if your skillset is not matching with the current requirements, then you would be out of the business. World is moving towards automation and thus affecting jobs, but one need to find out alternatives to overcome it. Otherwise, just like technologies, people will get outdated and will lose their jobs.

So, everything is changing so fast. We can’t predict future of anything like technology, job, business, etc. We need to change our outlook, strategy to remain competent in every aspect considering all the perspectives. But for conclusion, one quote rightly justifies my opinion “If you don’t change, you can become Extinct”.

Blog by

Prof.Atish A. Shriniwar ,
Indira Institute of Management, Pune

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