| 3 min
This week, Sears filed for bankruptcy. After 125 years in business, the company has fallen steadily into a decline and is too far out of touch with the changing business models of modern retail companies to stay afloat. Sears is a recent example of what happens when a company struggles to master market disruptions.
Every market and industry is subject to change. In the past, it has often been the companies at the top of their game who don't see the future tumult of competitor developments through their success — and therefore don't plan for it. Kodak, for example, didn't believe that digital photography would take off, didn't plan to adapt to the change in the market and eventually became anachronisms in the photography world, losing their spot at the top.
Even complex industries are capable of experiencing great disruptions. While the healthcare industry has been essentially solid for decades, Amazon recently announced a joint effort with JP Morgan and Berkshire to enter the healthcare space. It is too soon to know exactly what the outcome will be, but Amazon has disrupted many retail industries prior, and it is safe to assume the same might occur in healthcare.
In order to avoid ending up like these once formidable companies who've dropped out of the market, you need to remain agile and in tune to market changes and competitor developments, research them seriously, and alter your strategy when necessary.
Our new guide, Mastering Market Disruptions, investigates the need to monitor market disruptions and advises how to remain agile enough to maneuver around changing tides effectively.
In this guide, we discuss:
Don't get left behind in changing competitor currents. In order to master market disruptions, you need to be informed on what changes are on the horizon and adapt your strategy. In order to be successful, you need to start forecasting for the possible changes ahead.
Download your free guide here to start mastering market disruptions with confidence and ease.
Dawn helps companies in the Life Sciences space map their competitive environment, develop intelligence strategies which identify risks, and position them for future growth. Prior to joining Cipher, Dawn worked for many years in the Healthcare space in leadership roles at Cigna, Schering-Plough, Pharmacia (now Pfizer) and Johnson & Johnson companies Ortho Biotech and Ortho-McNeil, and in the Management Consulting space for Right Management.