00:00but how exactly did they manage to grow so big well the answer to that question lies in their
00:06business story and as you already know every business is unique in its own way but there are
00:12always some common traits that help them succeed in the case of lenovo these traits include
00:17adaptability diversification and a relentless pursuit of customer satisfaction these three
00:23things have been the key to lenovo's success and they will continue to be important for the company
00:28as it moves forward adaptability when lenovo first started out the computer market was very
00:35different than it is today the company had to adapt to changing technologies and customer needs
00:40in order to survive for example when the personal computer market began to grow in china in the early
00:451990s lenovo quickly shifted its focus from manufacturing other companies products to
00:51designing and manufacturing its own computers this allowed the company to tap into a new market
00:56and grow rapidly another example of lenovo is adaptability can be seen in its response to
01:02the global economic downturn of 2010 and maybe in about 2008 when the economy slowed down and demand
01:09for electronics decreased lenovo cut costs and focused on selling lower priced products this
01:15helped the company to maintain its profitability during a difficult time diversification another key
01:21to lenovo's success has been its diversification efforts the company has expanded beyond just
01:27selling computers and now offers a wide range of products and services this includes mobile phones
01:33tablets workstations servers software and more this diversification has paid off in a big way
01:40as lenovo is no longer reliant on just one product or market for its revenue
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