Bill Gates rightly predicted "Business @ the Speed of Thought". Here is a real-life example of Business Competition @ the Speed of Thought. A piece from today's news -
By PETER SVENSSON, AP Technology Writer
NEW YORK - Verizon Wireless introduced an unlimited calling plan $99.99 a month on Tuesday, a move that was quickly matched by AT&T Mobility and T-Mobile USA and weighed down stock prices for all U.S. mobile carriers. Verizon Wireless was apparently the first major carrier to make an "unlimited" plan available nationwide with no domestic roaming or long-distance fees.
Its announcement was all but five hours old when AT&T announced its own unlimited plan.
"This is a highly competitive market and we're committed to moving fast to meet customer needs," said Ralph de la Vega, chief executive of AT&T Mobility.
Three hours later, T-Mobile followed suit, saying it would introduce a $99.99 plan on Thursday. Unlike the Verizon Wireless and AT&T plans, T-Mobile's includes unlimited text and picture messaging, which costs $14.99 per month when added to other T-Mobile plans.
Adding new product in matter of hours is a huge tasks. Many softwares need to be changed to accomodate new product. Entire nation, all terminal should display same price and description. Cell phone should allow the person to talk unlimitedly.. and so on..
BUT, companies like AT&T and T-Mobile responded Verizon's new offer, just in hours ! Amazing speed.. I remember to change some minor policy to Gujarat Technical Admission commeettee for B.E. admissions, they would delay the process of admission !!