Leaders often fail to recognize the underlying facts that will transform their markets, which creates opportunities for disruptors who work 24/7/365 for a share of the leader’s business. The economy’s move from the Industrial Age to the Information Age created three new facts that leaders must heed. A case in point: The newspaper industry, which has ignored facts at its peril.
Here are the three facts that newspapers – and every other industry needs to heed – and what you should do to address them:
- Digital technology allows the creation of the same benefits at a lower cost
- The Internet is fragmenting markets because it’s easier to find and serve narrow segments
- The Internet is creating an unprecedented convergence of industries, creating the opportunity for more beneficial solutions
What facts in your own industry is your business overlooking?
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