Courtesy of Applicant
We all know that the world is changing at a blinding pace. Yesteryear’s market leaders like Barnes & Noble, Kodak, Blockbuster and Tower Records fade away. Meanwhile, new business darlings like Amazon, Apple, Netflix and Google take the stage.
Time and again, we’ve been told that if we don’t think “out-of-the-box” and reinvent our businesses, we will suffer the same untimely fate. The challenge, however, is how.
Was Borders a victim of Disruptive Innovation? (courtesy of Wikimedia Commons)
Tower Records. Borders. Kodak. Maybe even Research In Motion (RIM)?
The list of casualties to disruptive innovations grow longer each day. By clinging to the status quo and failing to recognise the threats of disruptive consumer behaviours, technologies, or business models, these companies have sounded their own death knell.