Adaptability in Business, and How it Costs These Two Companies
- 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.
- 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.
- 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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