Employ Alternative Technologies That Offer Cost Advantages for the Entire Business System
How broadly are you looking for cost reductions through new technology applications?
Benefits from an existing technology often run out after a while. If you needed more letters typed on electric typewriters, you couldn’t get much more speed past what a fast, accurate typist could do until the electronic typewriters with some memory were invented. Then, you could reuse parts of letters and merge lists with customized letters, while employing less talented typists. Now, a personal computer you use yourself can launch hundreds of millions of customized e-mails in the blink of an eye.
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You can gain greater cost advantages when you review the current state of the art and reconfigure it into more effective system solutions from the perspectives of the customers and those who are serviced by customers. Technology advances can play a role in this process of creating improved business models, as well.