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Times of Change are When the Big Winners are Created

December 20, 2012 at 8:19 am PST

Over the next decade, your industry will undergo radical change. How you bring products to market. How you organize your company and your teams. How people perform their jobs. The rule books we’ve relied on don’t apply anymore.

But this isn’t a time for fear or anxiety. Peter Drucker said it best:  “Innovation requires us to systematically identify changes that have already occurred in a business—in demographics, in values, in technology or science—and then to look at them as opportunities. It also requires something that is most difficult for existing companies to do: to abandon rather than defend yesterday.”

In 1971, when FedEx founder Fred Smith said he was going to deliver mail by jets, most thought he was crazy. In 1980, the creators of Whole Foods broke the mold when they entered a mature industry—with razor thin margins and driven by sales and coupons—and introduced the idea of charging premium prices for fresh, organic groceries.  And when Apple announced opened its first retail store in 2001, Newsweek ran an article titled Read More »

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