In the article entitled, Lessons in Longevity, it made me think of being too comfortable for change. History has always shown us that dominance only reigns, but for so long. How do we adapt to change when we are leaders in a particular industry? Even the Romans were conquered, but how you strategically make decisions will improve your likelihood. This question can only be answer by the companies today that find themselves, clawing for safety as their business continues to fail.
Companies that once dominated the market now are in peril which include; American Airlines, MySpace, Saab, R.I.M blackberry, and Nokia. Many of these companies can learn a great deal from IBM because at some point they were extremely successful, however because at the peak of dominance they never made enough changes to adapt to the market.
In the Airlines industry American has dominated for ages. Today, American finds itself in direct competition with the likes of companies like Southwest which is the most efficient in the Airline Industry. Many of the industry leaders that once dominated with American are now merging. Delta and United merged with other Airline carriers; however American has remained in the same position. IBM has developed a blueprint for companies that have a great past; build, develop, research, and invest then you can be successful again.
Many other companies find themselves in the same position as MySpace who at one point was the premiere leader in social networking. Today, they still exist but they have no substance. Saab at one point engineered exceptional vehicles today they aren’t even relevant. R.I.M Blackberry dominated the market for smartphones, but because they choose not to shift their business into a new direction they continued to lose market share in a daily changing industry. Nokia a company that developed and offered affordable cellar devices is in the same position as blackberry.
Change is necessary in business, Government and Non-for-Profits no matter how strong you are it can come to an end. So, prepare for change, adapt, and learn how to increase your strength regardless of how strong you maybe. Now after reading this article I have one question. How will you increase your strength moving forward?
Sunshine, James. "Five Major Companies In Danger Of Extinction: 24/7 Wall St." The Huffington Post. TheHuffingtonPost.com, 21 June 2012. Web. 27 June 2013.
Lohr, Steve. "Lessons in Longevity, From I.B.M." The NewYork Times. The NewYork Times, 18 June 2011. Web. 27 June 2013.