Technology shifts can radically change business principles. New technologies are being developed all the time, and the impact this has had on the world of business is immeasurable. As technology continues to move forward, it is important to understand how technology is transforming business: #1 – THE COLLABORATION CRAZE Collaborative consumption – where physical goods are shared among a group of people, rather than individually owned – might seem more reminiscent of flower power than of Gordon Gekko, but the business threats they embody are very real. For companies in a growing number of industries, it’s no longer sufficient t0 leverage digital technologies to rationalize and optimize internal production. If the business relies on a model of consumption that is inefficient for consumers, chances are that there’s already a new sharing economy marketplace that is looking to streamline it. #2 – TECHNOLOGY HAS FLATTENED THE MARKETPLACE In the same w...