Adaptability in Business, and How it Costs These Two Companies | EP 415

Adaptability in Business, and How it Costs These Two Companies

1. This topic is based on an interview with Jeff Bezos of Amazon 00:33
   • It’s an older interview from 1999. At this point, Amazon was just starting to get a lot of attention.
   • Two companies were referenced in this interview, Sears and Barnes & Noble, for being dominant at the time.
   • It’s interesting to contrast these companies then and now. They barely exist in comparison to what they were in 1999.
2. These companies did not adapt 02:06
   • Amazon came in, changed the face of retail, and impacted both of these industries.
   • This happens a lot, where companies that have been around awhile are afraid (or just don’t want) to adapt to new ways.
3. It’s important to be flexible in business 03:01
   • Keep up with the trends in your field (especially in technology) and don’t be afraid to make changes.
   • Adaptability in business is extremely important.

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