Technology
It is important to keep up with the latest technology so your business can succeed. An example is Rightmove who is dominating the housing market through apps.
Using things like social media is key to get your business spread since if someone shares one of your businesses on their page, then all their family and friends will see it.
It saves you lots of money starting a business or even make your product better which means you will generate more profits.
"Technology breakthroughs are very important because they offer the opportunity to leapfrog competition, create the basis for the establishment of an entirely new market or industry sector and, in some cases, generate a scale of revenue that can radically alter a nation's entire economy." (Chaston, 2016, p.150)
Using things like social media is key to get your business spread since if someone shares one of your businesses on their page, then all their family and friends will see it.
It saves you lots of money starting a business or even make your product better which means you will generate more profits.
"Technology breakthroughs are very important because they offer the opportunity to leapfrog competition, create the basis for the establishment of an entirely new market or industry sector and, in some cases, generate a scale of revenue that can radically alter a nation's entire economy." (Chaston, 2016, p.150)