Timing is an essential element in most endeavours. I would think that bringing out something new in business would be highly dependent on timing, as well. There has to be a need in the marketplace to which the new element introduced can be a response. I think that this takes a level of research of market understanding and the ability to ensure that the timing is right. For example, Apple's introduction of the Ipad last week coincided with an assessment of timing. Certainly, the technology was able to develop the Ipad about two months ago, but it was chosen as last week to be the time to introduce it. Timing was vitally important in this instance, and for the most, part, there is an exact time that figures into the introduction of something new.
In 1997, over $700 billion purchases were charged on credit cards, and this total is increasing at a rate of over 10 per cent a year. At first glance, the credit card market would seem to be a rather concentrated industry. Visa, MasterCard and American Express are the most familiar names, and over 60 per cent of all charges are made using one of these three cards. But on closer examination, the industry seems to exhibit most characteristics of perfect competition. Consider first the size and distribution of buyers and sellers. Although Visa, Mastercard and American Express are the choices of the majority of consumers, these cards do not originate from just three firms. In fact, there are over six thousand enterprises (primarily banks and credit unions) in the US that offer charge cards to over 90 million credit card holders. One person's Visa card may have been issued by his company's credit union in Los Angeles, while a next door neighbour may have acquired hers from a Miami B