What Leads To Business Failure?
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What Leads To Business Failure?

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About a decade ago, businesses – irrespective of industry – feared change, feared to take decisions on the go. Fast forward to today, we see the new breed of technology-driven businesses are fearlessly becoming unicorns in no time. What has changed?

Today’s companies predict market forces, so much so they know exactly what decision to take at what time. After all, timing is everything especially with technology!

Thanks to intelligent technologies, like IoT, machine learning and artificial intelligence, that fear of failure is no more with these young, dynamic startups. We need to capitalize on technology.

My question to you is this – when you know that newer technologies can help you take right decisions at right time, why don’t you put them to use?

Your consumers depend on your products to make their lives better. Your stakeholders look up to you to take the business to new heights. You DO NOT want to let them down.

So what leads to business failure?

Most business failures can be traced back to a series of bad decisions, including to not stay up to date with technology. Decisions taken in the heat of the moment; decisions taken without the right insights at hand.

Traditional businesses are more prone to making bad business decisions, as they do not have the right data to back them up.

Intelligent Enterprises, on the other hand, are bold and fearless. They are confident of their decisions as they are backed by solid business rationale. They are ever-ready to embrace change, as their firm technology base gives them a leg up on innovation and agility.

Which is why the future belongs to them.

In my 30+ years of experience, I have helped many businesses transform into intelligent enterprises using SAP’s market-leading technologies. I can help you do the same. Write to me for consulting advice.

Fear not; it’s free of cost!

By: Venkat Nanduri

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