Etsy is a company that started out as a company where entrepreneurs had the ability to sell handmade products for consumers. The company was a quick success when it first launched, but with time the company stopped seeing revenue so they decided to make a change. The change the company made was allowing its entrepreneurs to look for factories that could manufacture their products; this caused uproar because the company was leaving its core values. The article mentions the change the online company Etsy has gone through in the last year to a more factory-based production as opposed to the original homemade production, which was made to increase the company’s revenue. Part Two The company Etsy needed to revamp its image to compete with the standards of others companies. Many companies go through …show more content…
If consumers want a vehicle that screams technology give it to them. If consumers want a quick delivery of certain products allow entrepreneurs to use factories to quickly assemble products. Companies should always fit the needs of the ones buying their product. Without consumers certain companies would not exist. In order to satisfy the needs of consumers companies can have surveys where consumers can suggest and comment on the companies’ products. Allowing consumers to voice their opinion and give constructive criticism will allow both companies to succeed and grow. I would also recommend both companies to take risks. Taking risks such as developing a new concept car that is not already out in the market could help the company become a leading competitor, because such product would create an impact on consumers because it has never been seen before. Although, taking risks does not always ensure success it does allow the company to grow by error. Etsy is already taking a risk by becoming a factory based production company but maybe it could do something other companies have not already