Six ideas for staying relevant when competition looms. The key takeaway here is to remain innovative and constantly adapt to the changing marketplace.
As Apple rolls out its next iteration of the iPad, I can’t help but think of Blackberry, whose demise is the classic tale of a company with a big success that becomes fearful of “breaking what’s not broken.” It put its energy into perfecting what its customers loved, such as the typing experience, the unmatched security, and the BBM messaging, without investing in innovation. So when a competitor showed up with “the next big thing,” the maker of “the last big thing” was left wondering what went wrong. This is exactly what’s happening with Apple.
Of course, it’s easy to admit today that I predicted in 2005 that Blackberry would be in trouble. As for Apple, concerns that the company had peaked began appearing more than a year ago, accelerated by the death of Steve Jobs. Now, as one tech writer says: “There’s a new rhythm to product releases among the biggest players in mobile tech, and increasingly, Samsung is building a reputation as the most brash and quick-to-act of what I would call the ruling triumvirate, which also includes Google and Apple. Google plays the reasoned experimenter, Apple hangs back and refines the best ideas to come out of the market, but Samsung increasingly seems willing to absorb the costs of diving headlong into new territory, just to prove it can.”
What is Samsung doing right? And how can a company keep from becoming a sitting duck while remaining a cash cow? Here’s how to forge an innovative future while remaining a profitable company today.
Read more from the source: Co.Design