Google’s new CEO Larry Page announced a major reorganization of the six key product groups marketed by the Internet search colossus. This is Page’s first major move since taking control at Google earlier this week. The reorganization places the heads of the major product groups directly under Page’s control. This eliminates the previous bureaucracy that had several layers and slowed product development. The reorganization will help Google to fast track products to market, especially mobile devices and social media tools. Google has struggled with social networking and is feeling the heat from the Facebook, which now has an estimated 500 million members.
It is important for a business to identify the market trends and revise their business model to satisfy the changing needs of their customers. This is especially true with social media and Internet products. Even Google, which generated an estimated $29 billion in revenue last year, is not complacent. Regardless of the size of the business, management must be ready to change the direction of the business to fulfill the needs of their customers and keep pace with your competition. If you snooze, you lose.
that is such a true statement. A company can not wait for customer anymore the market is brutal. Not only do you need to know the market trends you have to know the people you are trying to get as customers. With all the companies going global it is even more important to understand the cultures and business practices of other countries to be successful.
ReplyDeleteKudos to Google for implementing these changes in a timely manner, I think a lot of company's find themselves making these changes just a bit behind the times due to fear of the company's reorganization. I think it's important to take into account the success of Google which is what allows them to do this. If a company who wasn't as successful considered this, I'm guessing it would be quite a lengthy process in an effort to stay ahead of the times, if it even happened at all.
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