We’ve all heard that “change is constant” and that “the pace of change is increasing” so often that we usually just ignore the message.
But on one single day last month, two separate announcements were made that highlighted the importance of these messages. An “old” company, Newsweek, and a “new” company, Google, fought to keep their business models relevant in a rapidly changing world. Newsweek finally gave up on its print edition, while Google struggled to generate advertising revenue in a new, smaller-screen world.
Business models need to adjust if they are to remain relevant over the long term. And that applies not just to old-school companies like Newsweek, but also to new-age companies like Google.
As always, we welcome your ideas and comments.
PriSim Business War Games Inc. runs and designs customized business simulations that teach decision-makers about business, strategy, finance, and leadership