Being left behind in the digital world shouldn’t be an option
Unfortunately, to be left behind in the digital world is something that many are experimenting with right now. Some are aware of it, but most people in this group do not even understand what changes are happening that directly impact their lives.
Do you remember Nokia as the leader in the mobile phone market? In 2007 Nokia had 51% of the global market share in mobile phones. The market back then was booming, and new technology entered the game. The smartphone concept saw the daylight, and a completely new marketing approach changes the picture. To put it into a concept, Apple has today ”only” 25% of the global market share.
Another similar story is about Blockbuster, the primary video club chain in the U.S. approximately 20 years ago. Of a sudden appears a new small company by the name of Netflix. They used the postal system to rent films to their clients. Netflix approached Blockbuster to search for some sort of joint venture. Blockbuster turned Netflix down, and the rest is well-known history.
Kodak, Atari, and various other well-known brands disappeared. All these famous and once very profitable brands disappear from the market because of one common error they all made.
Lack of innovation or/and investing in the wrong product development.
Let these examples serve as an introduction to understanding the impact of reluctance to innovations will have on your personal life. The pandemic we live in right now is speeding up the awareness of these dramatic changes the world is facing due to digitalization speeding up.....Read more!>>