The economist reported the executive chairman of Cisco, the world leading software company as saying, “We compete against market transitions, not competitors. Product transitions used to take five to seven years; now they take one to two.” Competition in such an environment of rapid change requires a new thinking and a new approach and many companies are not keeping up to it.
Business failure is more serious than many people realize. Most people have no idea what it means for them personally for a business to be successful even if they never get to use their product or service. Even more troublesome is the fact that most entrepreneurs also lack clarity on what their showing up in the market means. If they do, everything will be different.