Adaptation as Necessary for Success in Business

Adaptation is necessary for success in business. Describe a specific situation in which adaptation might not be necessary for success in business. Discuss what you think determines when adaptation is necessary for success in business and when it is not. As the common saying goes, the only certain thing in the world is "change." In order for a species to survive, it must be adaptable to their environments which inevitably change through time. The same can be said for someone running a business; that is, he must be able to embrace and work with changes in different realms to achieve success. Business people who are adamant in maintaining the same model despite an evolving environment will not run its organization at its optimal potential. Of course, it makes sense to stick to a business plan that has worked in the past. However, the inability to be informed and adapt to changes will prove to be a liability. , The best business people are able to keenly observe their environment and nudge their organizations in a way that adapts to certain changes. There exists an array of factors that may compel businesses to adapt, including, among others, shift in demographics, updated technology, financial economic downturns or upturns, etc. Business especially have to attract their clientele, as well as know the products of the competition. Indeed, several types of businesses, including big chains, have failed due to resistance to change. For example, the once-ubiquitous 50s style restaurant, Denny's, went out of business for many reasons. First, it seemed to have not altered its marketing strategies by maintaining outdated appearance and advertising. It also seemed to not have caught on with growing concerns about lifestyle diseases by not offering healthier options and emphasizing its big, greasy offerings. On the other hand, fast food restaurants, such as McDonald's and Burger King, maintained their high share of the market by constantly updating marketing techniques and also publicizing healthier options. Some businesses will experience success even though they have not adapted to a changing world. This is especially true in the case of businesses that have no competition or have a monopoly over the market share. The lack of competition allows business to continue with the status quo. Adapting to a changing environment around them would not be a cost effective because either way, they will still have clientele who need their services. Whenever there exists competition, businesses should be compelled to adapt to changes in the environment. People will patronize businesses that address their needs and are reflective of the times. They want to feel hip and are willing to shell lots of money on "fashionable" products. If businesses want to flourish, they must show people that they can provide not only for the practical needs of people but their desire to be associated with products that are in sync with the times and cultural sentiments.