On an almost daily basis, we read stories about how every industry is facing digital disruption. Although a flurry of negative articles warning how we are heading for a dystopian technological future, the reality is that disruption has always happened it is the speed at which it happens that has changed. Way back in 1942 Joseph Schumpeter coined the phrase “Creative Destruction” to describe something new that kills something old.
Dominant and seemingly untouchable brands have disappeared over the years. It was only 15 years ago that Nokia ruled the world of mobile phones. Its ubiquity ensured that people didn’t even need to talk about the brand itself and referred to handsets by their number such as the famous 3210 that so many people loved.
Many have questioned if what people are calling the sharing economy will replace the economy we have now. There are also countless examples of businesses retiring roles from our past and replacing with new relevant jobs that transform industries. The disappearance of iconic brands such as Pan Am, Enron and Blockbuster to name a few, illustrate how our world can change dramatically very quickly.
Could a major technology company, one that has been on the leading edge for years, face disruption?
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