Question: why are some businesses able to navigate the murky waters of change better than others?
Kodak invented digital photography then was too scared to see it through as a business model. Today, digital photography is ubiquitous. Kodak is DEAD. The modern day microprocessor you’d find used in the microwave oven in your kitchen has more processing power than NASA & Neil Armstrong had when he landed on the moon.
Vodacom and MTN jointly had to write-off R2bn in turnover overnight with the slashing of interconnect fees. The war for voice market share is dated, the modern day battle ground is data. Who will win the data war depends of which organisation will embrace the new reality with greater ease.
In truth: all business models die, but the businesses don’t have to.
Enjoy this video on what it takes to win in this changing world of business. Beyond chaos: building a great business.
What can leaders learn here? Never be afraid to cannibalise your own core business to build a better future.
Speaker. Investor. Disruptor
Aside: its not just me, this is what Tim Cook had to say on the subject,
“I see cannibalization as a huge opportunity for us,” Cook said Wednesday. “Our core philosophy is to never fear cannibalization. If we don’t do it, someone else will. We know that iPhone has cannibalized some of our iPod business. That doesn’t worry us. We know that iPad will cannibalize some Macs. But that’s not a concern.”