Even when the technology works and the market wants it,there may be social or physical barriers to its widespread adoption.Above all,invention is not innovation .just because something can be made doesnt mean that people are prepared to pay for it.
Netheir of Woolworths' main competitors had a strong reputation for their fresh produce at the time that Woolworths relaunched it self: Franklin had problems with selling space: and Coles were suffering from serious management problem which led to their stores paying premium prices for compost-grade produce.
Checkpoint
The entrepreneur must be able to access an appropriate level of technology, and the market must be capable of absorbing a sufficient quantity of product. These two factors are not entirely independent: the market's capacity to absorb product will be affected by the price, which will in turn be affected by the state of available technology. Excelent technology may fail in the market if the older technology it must compete with has sufficent remaining development potential and a well-established position in the market.
Above all invention is not innovation. Just because something can be made doest not mean that people are prepared to pray for it.
Profile three
Sir Reginald Myles Ansett KBE
R. M Ansett was born in 1909 in northern Victoria. His father ran a small bicycle repair business until he enlisted in the First AIF for service in France. On his return from the war, Ansett's father used his resettlement bomus to buy a smal knitting mill in Melbourn, and R. M. Ansett left school at 14 and became an apprentice mechanic in the factory.
Victoria, in 1930, had one of the most extensive railway system. whether measured per head or per hectare, in the developed world. Successive Victorian governments had seen the railways as s tool of government policy, opening up the country to agriculture and the country towns to decentralised industry. The network was, accordingly, designed to bring freight to the ports of Melbourne and Geelong efficiently; it provided a reasonably frequent, if not very fast, passenger service between the main centres, and an infrequent and very slow passenger service to most of the minors towns.
In 1935 Ansett extended his service throught Ballarat to Melbourn, paralelling one of the railways system's busiest ans most lucrative passenger routes, and goverment acted to preserved this revenue, effectively banning the operation of private buses or taxis between Melbourne and Ballarat.
The Chifley government bougth out the private sharedholder in Qantas, Australia's overseas airline, and when the Holyman family refused to sell Australian National Airways (ANA), Australia's major domestic airline, the government started Trans Australia Airways (TAA, later AA and now part of Qantas) in competition with ANA. After the 1949 elections the Menzies Liberal (conservative) government replaced Chifley, and Ansett approached Menzies, offering to buy TAA and free the government from the tain of socialism.
Ansett remarked to his friend F.W. Haig that he would like to replace ANA as the official non-government carrier under the two-airline policy,but that raising the capital needed looked like a problem.
In 1969 Mr R.M. Ansett became Sir Reginald. He continued to buy up regional airlines. Ansett himself was ambushed in 1979, when a joint bid from TNT and News Limited succeeded in a contested takeover. He was promoted to non-Voting chairman, and allowed to retain 0.5 per cent of the common shares during his lifetime. He died in 1982, an essentially private man, but Ansett Airlines continued to thrive.
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