Virtually all aspects of daily life are being changed by ICT. (Walsh, 2000) Whole new industries are growing up around ICT; new business models are being realised and old ways of doing business are being rapidly outmoded and made obsolete. The ICT industries themselves are changing. In particular, we note a trend towards global rationalisation, with mergers and acquisitions, both vertical and horizontal, becoming commonplace.
As the market becomes more global, even the most innovative of such companies are in danger of creating markets that are subsequently exploited by more powerful players. (Walsh, 2000) Global markets demand companies that are capable of operating globally: companies that can identify an opportunity, move fast to dominate the market niche and erect effective barriers to the entry of competitors. This implies access to the best in venture capital investment (hands-on, aggressive, with a desire for quick development and exit), strategic marketing and ready access to world-class expertise.
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