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Society has changed and people have changed, and they want more. They want an experience. They want to be entertained. We believe that retailers are as much, or more, in the entertainment business as they are in the products business.
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The reason most companies are so deeply affected by disruptive technologies is their cultures resist adapting until it is too late. They are so entrenched in their current paradigms that they can't see the future iterations of what they are as a business.
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These companies are going to have to counter a major disruption with a major disruption of their own. Most of the retailers who are in trouble are tinkering around the edges: a few more glitzy end aisle displays here, another rebrand there. Stripped down to its simplest form, these stores are glorified shelvers of stuff.
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The key word here is "achieve", because the company can be motivated toward a lot of other things, both positive and negative, but a single focus on achievement is what contributes to emotional intelligence. Are your people able to ignore or suppress internal politics in order to work together toward a common, compelling and well defines goal?
Doing the hard work to create a clear, concise and compelling definition of who the company is -- what business it is really in -- is a tiny investment to inoculate a company from this potentially fatal disease. Steve Jobs was such a remarkable leader because he was constantly fearful of the threat of founder's dilemma, even as he was basking in the glow of Apple's amazing success.
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Mark Twain was famously quoted as saying "I didn't have time to write a short letter, so I wrote a long one instead." The subtext of his quote is that time is the enemy of clear, concise and compelling communication. The same is true of strategy development.
There are two things that Blockbuster, Borders and Kodak have in common. The first thing they have in common is they all went bankrupt because digital technologies made their businesses obsolete. The second thing Blockbuster, Borders and Kodak have in common is that they all could be thriving today.
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Cloud-based services, also known as SaaS apps (software as a service), make more sense for everyone involved. SaaS apps are easier for customers to access, use and pay for, with the low subscription fee essentially amortizing what used to be a more onerous capital cost. They provide the developer with a consistent, predictable cash flow, and a far easier/cheaper development and upgrade process.