“A business’ flexibility in adapting to change and market dynamics will mark the winners and losers in this fast-changing Internet Age. Flexibility is a tight pairing of speed and agility. Linking businesses together using information is at the center of value creation in the Internet Age.” – Michael Dell, US Chairman of Dell Computer Corporation.
There’s no denying that there have already been many high profile businesses that have been rendered obsolete by the Internet.
But with hindsight most of them had plenty of time in which they could have adapted to meet the demands of this new economy – they just chose to ignore the warning signs that a change was coming and refused to adapt their business model accordingly.
The exact same thing will happen to the Internet giants of today too unless they are constantly on the lookout for the next game-changing business development.