Question
Chapter 3 of the textbook states, the speed of change in the environment is accelerating, leading to greater complexity and added 'turbulence', or discontinuity. Technological
Chapter 3 of the textbook states, "the speed of change in the environment is accelerating, leading to greater complexity and added 'turbulence', or discontinuity. Technological developments are combining to shorten product life cycles and speed up commercialisation times. The increasing turbulence in the market makes it particularly difficult to predict and, as a result, planning horizons have been shortened. Where long-range plans in relatively predictable markets could span 10-15 years, very few companies today are able to plan beyond the next few years in any but the most general terms"
Based on this quote, what do you think is the critical point of this summarized point from chapter 3 as it relates to how markets have shifted due to the pandemic in 2020 and 2021? What do you think companies in industries such as tourism, hospitality, and travel services are experiencing as to the speed and discontinuity of their markets due to the pandemic factors?
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