The world is changing day by day and so are the trends. To keep up with these trends, people have to find new innovations. In order to persist in this ever-evolving world, adaptability is a must-needed requirement. Only the fittest can survive this battle. Some of the companies are the perfect examples of not being able to keep up with the change curve. How an organization’s capacity to sense and respond to signals, experiment, manage complicated multi-company systems, and mobilize are the key points that may help it succeed.
Adaptation is an old concept that explains the existence of species, and it applies to businesses as well. To adapt and thrive, a corporation must constantly monitor the external environment for signs of change, decipher them, and move rapidly to modify or reinvent its business model. Adaptive businesses are proactively learning about their customers’ demands and needs in order to survive and thrive. They accomplish this by relocating activities outside of the corporation, which benefits competitors. They learn and create and evolve network tactics as a result of this process, without having to rely on powerful control systems. Blackberry is an example of a company that collapsed due to its inability to adapt to the market.
Blackberry’s failure
Blackberry had the advantage of being the premier one in the market by being an economical one. Apple, on the other hand, replaced it due to Apple’s adaptable system that supported iPhone. Suppliers, telecom alliances, and numerous independent application developers are all part of Apple’s ecosystem. Similarly, Google’s Android operating system is constantly evolving to meet market demands, which is only feasible thanks to a large number of app developers throughout the world. Apple and Google were able to leapfrog (in record time) the experience curve and strong market position helped by Blackberry thanks to the adaptive ecosystem made of so many entities.
Similarly, Google acquired Yahoo, the previous market leader in web search engines. Yahoo’s query was based on curators, whereas Google designed and improved its search engine based on user feedback, making it more responsive to real-time market conditions.
More companies (Amazon, Flicker, Walmart, Waze, and others) are now working on the content aggregation model, which allows them to create an ecosystem that is more conducive to market conditions due to better adaptability, as opposed to curators, who do not represent the true needs of consumers in real-time.