Digital disruption can render successful companies irrelevant if they don’t invest capital in digitizing their business to protect their moat. Don’t be Kodak - be Domino’s.
Without substance to their social media presence, so called digital strategies may put companies at risk of being found to be naked when the tide goes out.
When was the last time you did a digital deep dive of your portfolio?
Relevance in a Digital Age
As alluded to in the article synopsis, companies must ensure they remain relevant in this digital age; that is being relevant, or connected with the matter at hand, to ensure their product or service remains a preferred buying option for their customers.
Some traditional institutions lack relevance in this digital age and have been slow to adapt - think of media companies that failed to brace online digital services and advertising, which in turn have become irrelevant and folded. Think of Kodak (NYSE:KODK) being disrupted by Apple’s (NASDAQ:AAPL) iPhone and the mainstream take-up of digital photography. Think of Borders Books being disrupted by Amazon’s (NASDAQ:AMZN) ever evolving online retail market place. Think Nokia (NYSE:NOK) missing the boat with the adaption of social media platforms on mobile technology. TripAdvisor (NASDAQ:TRIP) trumping Lonely Planet. The list goes on…
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