The New Rules of Business
What triggered the collapse of Nokia? Not a competitor from the handset industry. It was the iPhone introduced by Apple, which was from a different industry. New age competitors are indirect, invisible & from the cross-industry. New-age companies, Uber and Ola, Netflix, Amazon Prime, and Hot Star, Amazon, and Flipkart are dismantling the old business rules & installing new rules.
If participants continue to operate using ‘old’ rules, they run the risk of becoming irrelevant. Almost every facet of the business, ‘old’ rules are being challenged and dismantled, and ‘new’ ones are being installed. If you are not familiar with them, then a Nokia-like fate awaits you.
29-September-2020 | 06:00 PM IST