Read time 1-2 minutes
Introduction
In a world where change is constant, we have to ask if the businesses that we rely on can keep up. Businesses like Apple are on top of the tech game but are they also ready to deal with social change? Businesses like innocent produce green products, however, can they keep up with rapid technological advance?
Why adapt?
When businesses fail to keep up with change they can be overtaken. A great example of this is the fall of blackberry. For a while, everybody had a blackberry and now they have a 0% share of the smartphone market. This was because their leadership was irrational and did not recognise the importance of the iPhone. The leadership at Google recognised the need to keep up with change were able to create a competing product to Apple. This meant that they were able to make billions.
Why is it important?
Not all change is about profits, sometimes change is important for different reasons. Things like the me-too movement and environmental awareness are also important. Companies like Apple offer completely equal pay to men and women and Companies like Tesla are recognising the need for environmental change. Elon Musk has even gone as far as releasing the patents for their successful electric cars to save the planet.
Ready to change?
While some CEO’s like Elon Musk and Tim Cook (Apple) have both embraced change and try and adapt there are still some leaders who refuse to change, companies like Coca-Cola are doing irreparable environmental damage. However, it’s not too late. Leaders are starting to see the importance of being environmentally friendly and with boycotts, companies can see that we won’t accept the status quo. We can only hope it isn’t too late.
References
Blackberry- https://www.youtube.com/watch?v=wBwlpJSq75o
Tesla- https://www.tesla.com/en_GB/blog/all-our-patent-are-belong-you
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