Declining industries
Why is it so difficult for leaders in various industries and sectors to seriously address the existential threats that sometimes arise? Planning for marginal changes in the business environment is fairly simple; problems can be solved, costs can be cut, and the firm can stay in the black. But how about more radical but distant threats? What about the grocery sector when confronted by Amazon's radical steps in food selling? What about Polaroid or Kodak when confronted by the rise of digital photography in the 1990s? What about the US steel industry in the 1960s when confronted with rising Asian competition and declining manufacturing facilities? From the outside these companies and sectors seem like dodos incapable of confronting the threats that imperil them. They seem to be ignoring oncoming train wrecks simply because these catastrophes are still in the distant future. And yet the leaders in these companies were generally speaking talented, motivated men and women. So what are th...