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Risk Management
When it comes to risk management, may people center on things like employee safety concerns, project management, efficiency and other things like that. For example, a risk that many firms would develop is that a lack of efficiency would reduce competitive edge as well as profits. There are other things such as the proper use of equipment that can literally kill people if the wrong things are done. Even things like cardboard balers and trash compactors can be a huge problem if the equipment is not maintained properly and/or the employees are using it in the wrong manner. However, there is a risk that not many people speak of but is an absolute must to keep in mind, and that risk is becoming obsolete. Even in recent years, many firms like Circuit City, Blockbuster Video and others have fallen away and no longer exist. Other firms are hanging on but their fate seems eventual at this point. While industry does not reinvent itself at a frenetic pace, it certainly still happens and firms that do not adjust properly will quite likely cease to exist.
Analysis
To drive the point home about how industries can evolve and change...
Montgomery Ward's is gone. Sears Roebuck used to be the retail king in this country. Nowadays, it would seem that them and their corporate partner K-Mart are in a slow death spiral. JC Penney's, Dillard's and Macy's are still around but are not exactly breaking records. Over the last one or two generations, retailers like Target and Wal-Mart have blown by the rest of the competition and still do well because there are only so many things that one can get online. Speaking of online retailers, Amazon, Wayfair and a few other notable firms are absolutely demolishing many facets of the retail sector. Consumer electronics would be a great example. One would think that two national-level electronics firms (Best Buy and Circuit City) could exist but that is not the case as the latter of those two was liquidated. Even though Best Buy now basically has a monopoly on the national brick and mortar electronics store markets (although regional stores like HH Gregg and Fry's are in the mix), they still are getting hosed by Amazon as many use Best Buy to shop and make a choice and…
References
Blockbuster. (2015). Blockbuster On Demand -- Watch thousands of movies now. Blockbusternow.com. Retrieved 13 December 2015, from https://www.blockbusternow.com/
Chong, C. (2015). Blockbuster's CEO once passed up a chance to buy Netflix for only $50 million. Business Insider. Retrieved 13 December 2015, from http://www.businessinsider.com/blockbuster-ceo-passed-up-chance-to-buy-netflix-for-50-million-2015-7
Davis, A. (2015). Best Buy Won't Out-Amazon Amazon. Talentzoo.com. Retrieved 13 December 2015, from http://www.talentzoo.com/beneath-the-brand/blog_news.php?articleID=10013
Snider, M. (2015). Cutting the Cord: Why Netflix reigns supreme. USA TODAY. Retrieved 13 December 2015, from http://www.usatoday.com/story/tech/2015/06/28/cutting-the-cord-netflix-brand/29218549/
Overhead Projectors - Obsolete Technology? Not so long ago, one of the greatest innovations in classrooms and boardrooms across the country was the chalkboard with eraser. Soon, there was the overhead projector, which was seen as the best way to give presentations for many years. However, computer-based technology has changed the way that the world works, and has made many past technologies obsolete. Much of the technology utilized in classrooms and boardrooms
Concomitantly, the traditional core of the business is declining faster than the growth of the digital business, resulting in an overall decline of sales. This results the risk that an increasing amount of investors may begin to lose faith in the company's long-term sustainability. Although Perez has indicated a time line for the implementation of new developments, Guerrera indicates that, in the light of current trends, this may be
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Healthcare and its rising costs have become a contentious issues within America and abroad. Healthcare costs, unlike other aspects within a developed society are not cyclical. Costs related to healthcare don't move in tandem with economic activity. Instead, as historical trends indicate, it continues to rise as the populations of developed countries become older. The United States is no different in this regard. Healthcare costs as a percentage of GDP
Obsolete Software Tools The pace of technological change continues to accelerate rending many software development applications, tools and programs obsolete quickly. The intent of this analysis is to evaluate ten of these obsolete applications, tools and programs, providing insights into how they can be improved to deliver greater value. Analysis of Obsolete Tools The first of the ten tools is Borland C++ Compiler Version 3.1. This specific version of the Borland C++