Fpl Technology

Industry Analysis

In the last decade, technology has rapidly changed and created new ways for businesses to operate across multiple industries. Consumers at one point would only be able to purchase any desired item by physically going into a department store. Now, you can easily shop from your home and have the items shipped directly to you without ever leaving the convenience of your couch. The internet has connected millions of people across the world and business can now host meeting over the internet without having to catch a flight halfway across the world. Technology has allowed business to reduce overheard but it has also forced them to invest in Information Technology (IT) infrastructure. In order for a consumer to shop for their desired item online, the department store needs to have a fully functional IT infrastructure and IT team. There needs to be various applications that help transmit data received to the appropriate line function. If there is not a fully functional IT infrastructure, how would a consumer’s online order be received, processed and shipped? Some businesses seldomly think about improving or even investing their existing IT infrastructure which poses numerous issues. A business have to consider the importance of IT in order to become profitable and remain competitive.

There were times when some industries may have thought that technology would never affect them or it would have minimal impact. To their surprise, no industry was safe from the rapid development of technology. The thought of electricity being replaced by technology was ludicrous at first! How can a resource that is necessary for everyday life be replaced by technology? Sure, there has been solar plants, turbine plants and hydro plants for years but it was still not a simple process in delivering the electricity that was generated. The company I worked for did not have to participate in the “Red Queen” at first since it had no competitors in the state and the other utilities in the area all purchased electricity from the company. It is a great situation to be in since you not only provide electricity to customers but you also sell electricity to other utilities.

However, technology continued to advance and before we knew it, solar panels were becoming easier to install and delivery the generated electricity seamlessly to your home. Tesla started to create an entirely sustainable energy ecosystem that included solar panels, solar roof tiles and solar Powerwall batteries. All of sudden, there was new competition appearing that was not local and could significantly impact the company. It was time to face the reality of this new competitor and start looking at a strategic aspiration to stand out and remain dominant in the local market.

The company has been well established in the utilities industry for years and continues to have some of the