Competitive forces require the modern business to constantly examine how it operates. Elimination of cumbersome and wasteful processes is crucial. Instantaneous and abundant information is changing the individual consumer, the institutions that serve them must change as well. The most crucial aspect of this transformation is recognizing that information access gives us choices. We now longer have to buy something because of limited availability.
Monopolies are almost impossible in a globally connected electronic society.
Informed consumers can very easily locate entities that provide lower prices or better services. The modern business enterprise needs to find ways to adapt to changing conditions in a way that serves that informed customer better. That adaptation must focus on processes that add value for the customer, as well as the organization. When that happens, both the customer and the enterprise prosper. James W. Candler, et.