| Life cycle or life span? None of the two words can | | | | business unprepared for competition. A more superior |
| describe the highly dynamic nature of service industries | | | | advice would be "make profit and be alert". |
| today. Life cycle can mean business will undergo | | | | Just after a few years into the twenty first century, |
| changes but does not give us a growth aspect of | | | | service industries like computer type-setting that |
| business. And life-span means a life that will come to | | | | showed signs of dying had a very strong come-back. |
| an end at a certain time. Perhaps "evolution" and | | | | A relatively good number of people in many third world |
| "revolution" may be closer in capturing the highs, lows, | | | | countries had become computer literate, and computer |
| and complex dynamics of service industry. | | | | desk tops were becoming increasingly affordable. And |
| Computer type-setting business in Kenya, and probably | | | | a good number of families had computers in their |
| in other countries, looked as if it was going to die out in | | | | homes. Family members were choosing to type their |
| early 2000s, only to turn around and thrive. A relatively | | | | documents at home. But the honeymoon with the |
| old occupation, automotive maintenance, according to | | | | interactive machine was short-lived. Life for family |
| some authoritative industry sources was coming to an | | | | members either became unbearably busy or |
| end. Vehicles that were being manufactured had | | | | type-setting was an unpleasant undertaking. It was not |
| removable electronic parts that could be removed by | | | | long before almost everyone was heading back to the |
| anybody, the sources believe, and replaced by new | | | | typing bureaus. The return of the old customers, and |
| ones when they ceased to function. One automotive | | | | coming of new ones, meant the bureaus were on a |
| engineer at that time left his workshop, and headed for | | | | quick recovery path. This was a big surprise to those |
| university to study for an MBA, not to be able to be a | | | | who had thought otherwise. |
| better manager for his workshop, but on the premise | | | | An automobile maintenance service may only need |
| that his occupation was dying out. | | | | some innovation, effectiveness, and efficiency in |
| A better respond was from Jomo Kenyatta University | | | | service delivery before it can come back bouncing. |
| College of Agriculture and Technology. The university | | | | Even when vehicles have become partially electronic, |
| re-structured its mechanical engineering programme to | | | | people can take their vehicles to garages that can |
| reflect the changes in machine and automobile | | | | have worn-out parts replaced by genuine new parts. |
| engineering, but not the death of the industry. Many | | | | There will still be garages that will lack integrity. And |
| people who were the first to offer computer | | | | we will still have parts of a vehicle that are purely |
| type-setting services, driven by "dying businesses | | | | metal and may need welding, straightening, twisting, or |
| euphoria" closed, only to keep way for new | | | | binding, and the old skills would still be handy. |
| entrepreneurs who started and thrive. No life-cycle, no | | | | Many entrepreneurs would choose the easy and |
| life-span, but evolution and revolution. | | | | stable food and clothing industries. But even these |
| Evolution means service industry undergo changes | | | | businesses can become redundant, if they lack |
| characterized by generations of highs and lows, but | | | | innovation, and attentiveness to taste and quality of |
| with an upward trend. If an entrepreneur would remain | | | | service. Service industries must also come up with the |
| abreast of complex industry dynamics at all business | | | | right corporate culture, not just in paper, but be |
| growth stages, business may rise from low to high. | | | | implemented. These "basic needs" industries have |
| With innovation, radical steps, and external factors, | | | | opportunities for growth or for demise, depending on |
| known or unknown to an entrepreneur, business may | | | | how they are managed. The scenario of people |
| come back with an explosion, and with some or | | | | running back to the typing bureaus is not foreign to |
| entirely new characteristics resembling a revolution. | | | | running back to restaurants and hotels. There is an |
| When new service industries were at their low, one | | | | increasing number of people who would prefer taking |
| would hear a self-acclaimed "sages" saying that saying | | | | their visitors to restaurants and hotels for lunch, supper, |
| that whenever you enter into a new business, exploit it, | | | | and accommodation than cooking for them in their |
| make a big kill, flea, and join a new industry before you | | | | homes. |
| are ruined together with the dying business. There is | | | | Clothing industry is governed by fashion and taste. And |
| some scanty truth in the sage's advice - that of | | | | there are also fashionable and tasteful ways of |
| making profit, but a big junk of his advice is a | | | | cookery and serving. It may be said with confidence |
| misconception. Making of profit should go hand in hand | | | | that boredom stares hard at the modern man, and is |
| with innovation, quality, efficiency, and effectiveness. | | | | on the list of the most abhorred and feared items. The |
| When an entrepreneur pay attention to all these, | | | | twenty first century man may never be able to say |
| business that is low may have a very powerful | | | | with the wise Solomon of old that all is vanity, but will |
| come-back. When the business is high, there are some | | | | always be on the look out for something appealing, |
| business actions that should be carried out. It may call | | | | appetizing, exiting, intriguing, and satisfying. And |
| for expansion, exploring of new markets, developing a | | | | entrepreneurs should endeavour, whether in new or |
| new product, or acquiring a company that deal with a | | | | old service industries, to provide them. The |
| related product. Otherwise the business may become | | | | entrepreneur's pursuit becomes an evolutionary and |
| redundant or new competitors may enter the market | | | | revolutionary enterprise. |
| and trade in similar products, making the existing | | | | |