Businesses Being Built for Extinction

by Shaan Chopra

Here let me explain to you why some businesses are being built for extinction. Future is shaping the world now; we are using technology almost daily. Some of the new technology is just crushing the businesses worldwide, for example, let’s look at Car manufacturers, application Uber is crushing it. Let’s look at Movie Theatres, an application like Netflix is crushing it. Let’s look at Camera Industry, our smartphones are crushing it. When was the last time you went to a restaurant and ordered food home ask yourself?

Some businesses which are being built now are just getting ready for extinction in the future. Traditional businesses are going out of business, last week Canon a major in the camera line posted down in sales to 23% compared to its previous period. Can you imagine what went wrong, yes, it is the improved versions for smartphones. Things are changing for user’s convenience and for a greater experience. When was the last time you visited a travel agent for your tickets? I personally don’t remember may be in the year 2008, I just buy them myself over the internet now. I just don’t buy them I also select my seat and food preference now.

We have so many social networks in the system now, we have Facebook, Twitter, Instagram, WhatsApp, Snapchat, Hi5, Hello, Myspace and many more. I even use WhatsApp calls to connect to my sister abroad, this makes me think do I need a telecom connection any more. What if I can connect to people using Wi-Fi data? well, that is the whole reason why some businesses are being built for extinction. Innovation plays a major role in surviving in the crushing competitive world.

Must Read: Marketing and Innovation

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