A latest study by researches quantifies just how quickly high-flying companies fall back into the pack, with some plunging to the depths of their industry sector in record time.
A major Question that arises in front of us is
how can some companies maintain such an advantage?
No competitive advantage, no matter how strong it may seem, is . Don’t sit back and wait to be knocked down; look for the next best thing.
Growth and market share figures help for the present but don’t prepare you for the future. A better metric: If the ratio favours recently developed offerings,
Organizational capabilities that support collaboration, diversity and organizational learning are required for the that build future success.
As the product life cycle duration has been shortened in the digital age thus
Companies should anticipate about the changing business environment and accordingly keeping in mind the future needs must opt for planned change rather than sitting idle and waiting for changing business environment to largely impact them and then go for forced change. Education Industry is one such example which is undergoing forced change - a monumental shift in conventional Education, re-examining the architecture & eco-system of education where EdTech is taking a centre stage and revolutionising the whole learning landscape.
It is imperative for businesses to pay renewed attention on their businesses / Offerings exit strategies. There is no point throwing good money after bad.
[Views expressed are personal]
Author of Multiple Books & Award-Winning HR Leader with 25+ Years of ExperienceAn Educationist & Management Consultant with 30 years of experience with Top multinationals and premium academic institutions. Author of Many books & research articles.