Transformation Of Technology – OpEd
Established in 1990, a Turkish-American joint venture company embarked on its journey with great hopes, only to encounter the changing face of technology over time.
The expansive industrial designs and technological knowledge of our American partner indicated significant business potential for Turkey in neighboring countries. However, limitations in communication and inadequate technological infrastructure were among the factors hindering the company’s development.
One day, an American engineer visiting our office expressed surprise at the outdated technologies, highlighting the necessity for transformation. With the advancement of technology, communication began to digitize, and new tools such as email started to be utilized. Tasks that once took months to complete were now finished in minutes thanks to computers.
Additionally, we improved our efficiency by purchasing thermal power plant software from another company. However, over time, the company’s situation began to change. The local partner diminished, relationships weakened, and business declined.
While skilled personnel sought opportunities in North America and Western Europe, others began to retire. As a result, the company’s intellectual capital and experience started to dissipate.
Looking at the markets today, I observe that once prominent industrial construction firms have downsized, and experienced technical personnel have aged. The lack of emerging young talent hinders the execution of major projects. Formerly, companies engaged in international projects now struggle to find a place in global markets, and business opportunities have dwindled.
The outlook is far from optimistic. Businesses that fail to adapt to changing conditions risk losing their competitive edge. However, by utilizing technology correctly and continuously adapting to innovation, businesses can achieve success. For the future, it is crucial to establish a flexible business structure that is in harmony with technology.
