The colloquially known principle "Survival of the Fittest" proposed by Charles Darwin is a very noted theory based on natural selection, which states that species that acquire adaptations favourable for their environment will pass down those adaptations to the next generations. Only such species will survive and evolve through speciation. On the contrary, Leon C. Megginson, a Professor of Management and Marketing at Louisiana State University, beautifully quoted this theory in his own words.
"It is not the strongest or the most intelligent who will survive, but those who can best manage the change."
Fast Growing On-Demand Movement
With the evolution in the cyber space and the ever-growing advancements, the theory of "Survival of the Fittest" has mutated itself to "Survival On-Demand". Today, organizations and online businesses are quickly adapting to the changing customer needs for their survival and ultimately massive success. But still many of them lose the game and declare their death. Why is it so? Well, the answer lies behind the fast growing on-demand movement.
According to a latest article posted by Simon Lee, iteration cycles have become so fast that there is no time to compete in the market. Something new and strong will come and you will have to adapt to it as soon as you can. This is so true.
The Journey of a Bookselling Store to the Best Bookseller
A bookselling store, located in Chelmsford, soon realized that its customer experience dropped drastically, because of its absence in the online market. So, the owner decided to have a website, where he can introduce his online library. After launching the website, he realized that market was already full of competitors who have been offering bestselling books online, at competitive rates.
So, he decided to release an open offer by providing books at discounted rates, assuming that it would help him attract more customers. However, the customers were already buying books at competitive rates. The owner finally decided to conduct a survey to realize, what actually his customers are looking for. After a successful survey, he launched some new features on the website including events, signed copies, staff picks, blogs, featured authors and other stuff. These features not only facilitated him to stay ahead of the competition, but also helped him in identifying the changing demands of the customers.
Today, providing a service or a product to customers with 100 percent customer satisfaction is not sufficient, you need an X-factor to survive the competition and achieve massive success. There were some crucial elements that separated Facebook from Orkut and Amazon from any local online book store. And the answer lies in how they choose to respond to the forthcoming challenges. An early mover always chooses to respond rapidly in the on-demand space and that is what decides its duration of survival.
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Article Source: http://EzineArticles.com/expert/Charu_Mehta/629624
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