Disruptive change is no longer the the exception, it’s the rule. The entertainment, computing, mobile phones, book publishing and photography have all recently experienced dramatic change due to new and converging technologies, business models, distribution channels and market expectations.
Neckermann was founded in 1950 and expanded as a result of the large demand for goods in post-World War II Germany, quickly becoming a market leader. The firm struggled, however, to remain competitive against discount suppliers, and to establish itself as an online mail-order store.
Earlier this year, Schlecker, a family-run chain of drugstores present in almost every high street across the country, shut its doors for good with the loss of nearly 25.000 jobs.
But are these high-profile closures representative of the sector as a whole? Generally speaking the answer is no, the retail sector in Germany is doing well. It is stable and with a projecting growth of 1,5 per cent in 2012.
Over the past decade, a number of retailers groups have sought to remain competitive solely by slashing costs. But they have failed to optimize their range of products and services.
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Challenge to keep companies competitive – Perhaps the greatest challenge business leaders face today is how to stay competitive amid constant turbulence and disruption Change affects every company, but disruptions...