An honorable member of the Coffee Shop Has Just Posted the Following:
Last Wednesday, HMV shut its last Singapore store, going the way of several other music retailers here in recent years.
The retail scene here is challenging. Competition is rife, rents are high and businesses grapple with a manpower shortage. They cannot rely merely on defensive moves like cost-cutting. They must think big, innovate and stay ahead of the curve.
Take the case of Kodak. In 1975, one employee invented the digital camera but was told, effectively, to shelve it. At that time, Kodak cornered about 90 per cent of film and camera sales in the United States - each digital camera sold would have eaten away at that.
When Kodak finally embraced digital, it was too late. It filed for bankruptcy in 2012.
http://www.straitstimes.com/singapor...-your-business
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05-10-2015, 08:40 AM
many businesses going kaput...
