Yet another amazing and insightful lesson on Information Systems!
Today, I learned about how I-Tunes entered the music industry and the reasons for successfully capturing a portion of the market share without the telecommunication companies seeing it comign. I have also learned that it is almost impossible to stop the sharing or downloading of songs or videos in this era when there are so many websites on the internet such as Megaupload, last.fm, The Private Bay, BLIP.fm etc which facilitate the downloading or P2P sharing. Thus, in order to survive in the current environment, we will need to adapt and to innovate in order to be competitive in the current paradigm. Constantly living with the old school thinking and staying in the comfort zone will not bring any companies anywhere.
Next, we spoke about the introduction of SKYPE and how it changes the paradigm of the telecommunication's industry through the introduction of digital voice communication. Some telecommunication companies were forced to re-model their business model in order stay competitive in the market. We can also see that some telecommunication companies are precluding the use of SKYPE via their mobile wireless network to ensure that they do not loose their main stream of revenue. I truly believe that the telecommunication industry will continue to evolve in the coming years and instead of waiting for things to happen before reacting, companies should start anticipating future challengers.
At the end of the day, no companies would want to end up like how BRITANNICA was made obsolete by ENCARTA or how ENCARTA eventually was replaced by WIKIPEDIA, (non-profit) organization. Therefore, the best chance of survival is to be innovative and to adopt a continuous improvement policy.
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