John Henry, the legendary “steel drivin’ man” who tried to beat a machine driving spikes along a railroad, lost his race. According to a recent study by The Boston Consulting Group (BCG), the John Henry phenomenon is real: companies that lag in technology implementation are losing the race with “smarter” firms. BCG found that small and medium-sized firms in the “leader” category in such things as Internet connectivity and cloud-based services created nearly twice as many jobs and 15 percent more revenue than their “laggard” peers.
At the Asheville Area Chamber of Commerce, we would like to see our economy grow and our members prosper. We encourage you to look at the BCG study and get a better feel for the advantages of becoming better versed in technology.