It is the question everyone is asking
What is the future of business?
Today’s leading companies are already becoming obsolete. Only 71 companies remain today from the original 1955 Fortune 500 list. Six of ten biggest corporate bankruptcies in history have occurred since 2008.
According to Brian Solis, a digital analyst studying technology and its impact on business, we are currently living a digital Darwinism, a time when technology and society are evolving faster than the ability of many organizations to adapt. It is this reason, along with a myriad of other problems that, in fact, killed companies such as Blockbuster and Kodak. Digital Darwinism has already cost the planet close to a half billion jobs and it is accelerating. The chilling effects of digital Darwinism and the rapidly evolving consumer landscape is told in the infographic below.
The tsunami of social, mobile, real-time, technology is disrupting everything and customers are evolving into something new. They’re more connected, empowered and demanding.
Surviving to digital Darwinism has become a matter of life and death for both big and small companies. To innovate at a pace that allows them to survive organizations need to develop innovative products and distribution channels and rely on people and experiences.