UK businesses fear change is coming too quickly
Retail operations in the U.K. are facing tough times, as the nation is entering a double-dip recession and an increasing number of stores are going bust.
There are, of course, many factors contributing to U.K. retailers' difficulties. However, a recent report from Fujitsu found that nearly two-thirds of businesses believe that the current rate of market change is moving too quickly for companies to keep up.
Customers are primarily driving change. In fact, the survey found that 83 percent of respondents cited customers as a significant factor in fluctuations, as well as the issue they felt the least equipped to handle.
"The hardest task for CEOs today is to strike the balance between responding to external change and allowing change to happen around you while you stay true to your long term plan," said Duncan Tait, CEO of Fujitsu. "[It] is about understanding the environment around you and arming your organization in advance with the tools it needs to be able to respond quickly."
One of the top strategies for keeping up with consumers and their desires is by making them part of the process. Query them about what they like, want or would do differently.
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