Strategic Management22 May 2008 Symonds Data Recovery: Prepare or Perish I think Shakespeare won’t much toss and turn in his grave, if I alter his famous words to say that, ” there is a tide in the affairs of ‘companies’, which if taken leads on to fortune”. There is a great difference between the economies prevailing during the dawn of the industrial era, and the current information driven economies. The attributes like connectivity and accessibility have extensively accelerated the pace at which markets alter and react. This augmentation in the pace of change is often manifested in the business cycles of the IT related industries.
Thus an attitude of complacency in such industries is a sure shot recipe for bankruptcy. It has become imperative for industries to analyse their stature and health using a “fresh pair of eyes”, so as to ensure survival and sustenance in the fast changing market scenarios. Executive summary Owing to its very nature, the market for data recovery services is very much prone to legal, social and economic issues pertaining to the domain in which they work.
It is a highly competitive market and the companies involved have to restructure their organizational strategy on a regular basis. Symonds Data Recovery is a well established data recovery firm in the UK. It had strong brand recognition and a thorough reputation amongst its customers till now. However, the entry of some start up companies has made the market for data recovery services very volatile. Symonds desperately needs to revamp and reposition its business in this changed scenario. While doing that it intends to build on its solid infrastructural base, thorough R& D background and authentic patents over many software and hardware procedures pertaining to data recovery.
Symonds Data Recovery Since 1994, Symonds data recovery has been providing data recovery, digital forensics and data security services to a variety of customers in the UK. Over the years, it has managed to accumulate a wide customer base that includes many Fortune 500 companies and a lot of small businesses. This company was originally founded in the UK and has succeeded in achieving strong brand recognition and a reputation for quality service.
The company’s mission statement is, ” to provide effective data recovery at reasonable prices, while maintaing high level of customer satisfaction”. Symonds Data Recovery is one of the largest and technically most advanced data recovery company in the UK. Since the last five years, it has managed to be amongst the top five data recovery companies in this part of Europe. Current Situation Since the beginning of 21st century, the market for data recovery services has become quite unpredictable and volatile. A lot of factors are responsible for this change.
One major factor is that a plethora of data recovery companies have mushroomed all over England to take advantage of the expanding market for data recovery services. The advent of many cheap Do it Yourself Data Recovery Software in the market has also added to the problems of the top data recovery brands. Many UK based MNCs and business houses are increasingly opting for in house data recovery facilities to enhance savings, considering the high prices charged by premium data recovery companies like Symonds. Top data recovery companies are facing an acute shortage of experienced data recovery technicians and vintage spare parts.
This is adding to the costs of services. Customer awareness pertaining to the differences between charlatan and authentic data recovery services is minimal, despite the massive digitization of economy. Symonds Data Recovery is under an increased threat of loosing business to start up firms providing data recovery services at dirt cheap prices. The next big challenge before the company is to retain its position as a market leader, in the face of stiff competition provided by other leading firms.