Is your company stuck in the past…is your industry slowly (or quickly) changing?
Have your customers’ needs moved away from your old product/service offerings?
These changes can build up, and then erupt.
Companies become Stuck in Another World if:
- They don’t recognize or react to evolving industry forces and trends
- They have lost their core strengths and competitive advantages
- Products/services have become indistinct commodities
If this is the case, what can you do about it? For those readers who have successfully dealt with these challenges, what are some successful tactics you can share with the 9Stucks readers who find themselves in this predicament?
Just this summer, conversations I’ve had with CEOs and private equity investors have quickly gravitated to their laments and frustrations about either: 1) customer behavior; 2) new competitors; 3) industry dynamics; 4) product/service offerings; or 5) all of the above.
The chatter is loud. Here is a sampling from the conversations: