Financialnewsmedia.com news commentary
“Neither RedBox nor Netflix are even on the radar screen in terms of competition,” Blockbuster CEO Jim Keyes told the Motley Fool in 2008. His video-rental chain filed for bankruptcy in 2010. Today Netflix is worth $61.93 billion.
Sometimes the next big thing isn’t easy to spot. Sometimes disruption is staring you right in the face and you can’t help but look the other way. That’s doubly true when you’re the head of a legacy business desperate to stay relevant.
Business disruption has become the new normal that companies face on a regular basis whereas a decade ago it was the rare exception.
The major cause of disruption is the rapid advancement of technology and globalization, which allows new business models to be introduced at an ever-increasing rate and with rapidly declining costs. [Read more…] about Disruptive technology: The industries at risk and the companies positioned to benefit