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Doom and gloom no......innovation and technology yes. Everything anybody learned at Harvard or any like business school needs to be thrown out for the most part (my opinion). Except for the down times of the present and the past that were manipulated by housing, tech stocks etc. technology and innovation are the grim reapers and to stay alive you need to be two steps ahead of them. Does this mean companys need to have a game plan a year out NO! You have to have a game plan everyday.
You can not tell me there was not one person at Blockbuster who looked at Netflix and stepped up to the plate and said........hey this could be big trouble we need to react quick.
Smart phones are cutting existing company's to the bone.........GPS and camera enabled smart phones are cutting into point and shoot company's like Sony and Cannon to name a few. Also Garmin, Tom Tom are losing market share.
Why the heck did Kodak not embrace digital technology.......their R & D was the best of the best but they continued to believe film was going to be around forever.
Laptop and desktops are fading away rapidly in the US......what is this going to do for Dell and the others?
Streaming is gaining speed faster than anyone can imagine or predicted as are smart phones.......will anyone be hard wired to a home phone or TV to cable in ten years?
The economy is not the real killer, technology and innovation is. Amazon is decimating retail while at the same time boosting FedEx and UPS.
Look at JC Penney.....the dude that decided to do away with sales should have been fired. People love discounts and coupons......look at Kohls.
Gone are the days where business can kick back and reflect on the year......now a bad year can kill company.
You see Macy's and Target closing stores......they are reacting rapidly to non performers. This is they wave of the future......stop the bleeding quickly and immediately react to possible competition.
Same with resturants.....growing up we had about four fast food choices.....today you have ten. Business is not slow.....it's people have to many choices for take out or dine in. Red Lobster....unfortunately that is old school like Sears.....it is going to fade away unless they reinvent themselves.
All of these things affect workers and it is not always the big bad company but technology and innovation.
I predict in ten years most men will not carry a wallet....everything will be on a Smart Phone and a walk in bank will be something a person will rarely visit.
Technology is not manipulating or holding the economy back.....it is those companys that can't get on board the innovation train and react accordingly......unfortunately profit still drives business and employees and long term well known branded companies (like Sears) are going to fade away taking jobs and retail history with them.
The above is my opinion and not a vision of the economy's future. I find socioeconomic changes due to technology and innovation fascinating!
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