Resisting change can lead to business failure from "summary" of The Innovator's Dilemma by Clayton Christensen
As companies grow and become successful, they often develop a set of processes and practices that helped them achieve that success. These processes can become deeply ingrained in the organization, creating a resistance to change. However, this resistance to change can be detrimental to the long-term success of the business. When a company resists change, they may fail to adapt to new technologies or market trends. This can lead to a loss of competitiveness as other companies embrace these changes and gain a competitive advantage. In the book 'The Innovator's Dilemma', Christensen argues that successful companies often fail because they are unwilling to disrupt their existing business model in order to embrace new opportunities. One of the key reasons why companies resist change is because they are focused on serving their existing customers. These customers are happy with the current products or services being offered, and so the company focuses on optimizing their operations to meet these needs. However, this focus on existing customers can blind companies to new opportunities that may be emerging in the market. Christensen uses the term "disruptive innovation" to describe the process by which new technologies or business models emerge that disrupt the existing market. These disruptive innovations often start out as niche products or services that may not initially appeal to the company's existing customer base. However, over time, these innovations can improve and eventually overtake the existing market leaders. In order to avoid falling victim to disruptive innovation, companies need to be willing to disrupt themselves. This means being open to new ideas and technologies, even if they may initially seem unprofitable or risky. By embracing change and being willing to experiment, companies can position themselves for long-term success in a rapidly evolving market.- The concept of resisting change leading to business failure is a cautionary tale for companies that become too comfortable with their existing business model. In order to thrive in today's fast-paced business environment, companies must be willing to adapt and evolve in order to stay ahead of the competition.
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