Evolution is the key to survival in nature and in business.
Betting industry leader, William Hill Bookmaker has survived, expanded and reached the peak of the gaming industry after modest beginnings in 1934. As a business, William Hill has been nimble, innovative and imaginative as it led the way in the betting industry.
Millions of commercial enterprises, in all industries have come and gone since 1934. They failed for a lot of reasons but there will be a core group of causes. These will include under capitalisation, lack of demand for the products and services on offer, management incompetence together with a failure to embrace new technology. Research and development will always a vital business practice or function.
What do business managers and owners have to do to remain relevant to their consumers? They must add "value" to the lives of people!
All businesses have human and or commercial customers. Whether it is a car seat maker that sells to a car maker as a part of the component chain or a medical practitioner offering laser treatment for patients or as in the case of William Hill, a better gaming experience, "value" is the common element. The business that actually produces the best outcome for the consumer will win the job. When people do things better than their competitors, there will be a higher "value" assessment in the minds of consumers.
In the case of William Hill, it offers the best online and physical betting options for its fans. It provides the best "value"
William Hill has continually offered new betting and gaming products to its customers ( and those new customers who were attracted to the business by the new products ) since it was established as a street store based betting shop. Today, gaming is one of the World's most popular entertainment options. People like to bet on sporting events, horse racing and increasingly, at online digital gaming venues where poker, roulette and blackjack have moved from the card table or wheel to the screen. William Hill has led that delivery of new products in the gaming industry.
In other fields of commerce, people have to conceive, develop and deliver new products and services. Think Apple. It started out making kit computers for a tiny group of early adopters of computer technology. By conceiving new produces and services, it is now the largest company in the entire World.
Back to William Hill, it has adopted the technology to deliver the best online and physical store based betting service. It continues to add 'value' for its customers by creating and delivering new games to be played online and new events or entertainment options for people who visit its betting stores.
Change is good in every industry. That is why research and development should never be overlooked.