Question

What is one industry you think will be gone in 15 years?

Identify at least one company in this industry and explain why their business will not succeed over time

How will consumers of this product/service evolve

How will the competitive landscape evolve and in

what time frame

What could the industry do to prevent becoming obsolete?

Answer 1

In my point of view, oil industry could face large no of challenges because dues to environmental issues such as pollution and evolving of electric cars which is cheaper also and alternative sources of energy are some of the reasons7 I think this industry will face a lot of hurdle in coming years

There are many businesses like Exxon mobile, royal Dutch shell, e.t.c . These companies have enough oil reserves and will continue to have but the demand of electronic vehicles and environmental factor will drag these companies down . Recently due to corona panademic, demand and sullly of oil comapnies are hugely impacted and due to oil prices going down , many companies are facing insolvency

The consumers will find alternate resources of oil like energy ,fuel , lubricant e.t.c ,the oil industry will have oil reserves for several years but there will be shift of consumer choice though

The oil industry can never be obsolete ,.it will run till human civilisation but the demand for this industry will get hampered as the year to year goes by. The businesses need to find new ways of technology to extract oil so that price goes down and price does not go overboard on coming years