Future of service based company
What are service based and product based companies?
First of let me pour some light on what are
“Service Based companies” and what are “Product Based Companies” then you guys
can decide which one you are working for! Okay so Product based companies are
the ones that designed some sort of products and sell in market like Microsoft,
Oracle, SAS, Adobe and so on. On the
other hand service based companies are the ones who uses these products to
provide service to their clients. Like most of the companies uses the product
of above mentioned product based companies such as windows, dot net , java, sql
server,SAS to serve their client needs.
Future and Survival of service based companies
Personally I have been part of multiple
services based companies in my career and I am quite positive about their
future and their survival. There are multiple factors of their survival and
long run:
Dynamics : The dynamic rate especially for
technology is very high. In last few years where we have seen the dot market
has seen its all time low, java on the other hand maintained a stable run and
many other new technologies have entered the market and claimed their position.
So putting all of your bets on single technology may not be wise for long run.
Evidently we have observed the service based companies ramping up to keep up
with this dynamics by not only diversifying their customer base but also
diversifying their work force.
New alternatives : Technology is growing is
such a vast speed that everyday we get to know about a new alternative for an
existing technology and on top of that they are not only up to dated but also
cheap. Recently AWS has been spotted as a very cheap and viable option for
costly data sources like Oracle, SQL Servers. On the programming languages
front R, Python has emerged as powerful and again freeware tools that are taking
over costly and prestigious market holders like SAS.
Again the companies service and non service
based are opting out more efficient and cheap alternatives that not only will
give a strong grip over market but also help in saving some extra pennies.
How stable are you if you are working in a service based company ?
Okay now that a tricky one! See I have
already explained , the market is changing at a very swift pace and so is the
customer base. Now in order to maintain their positions the companies do are
changing their work forces in order to serve their customer better. So, if you
are part of that company you need to change too which means getting your skill
set up to dated. From an organisational point of view there are again 2
approaches that different companies follow in this regard:
Training the existing employees: Generally
if companies are all together shifting from one technology to other they get
their employees trained in the new technology in order to have smooth
transition. But that’s very rare as
- Not all the employees will be able to learn at that fast pace
- Not all of them will find their interest in the new space
Hiring from outside : The other and very
common options companies find is hiring from outside and getting their work
done.
So in simple words you have to keep up with
the market and technology in order to have a stable which ironically is dynamic
career with service based companies.
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