Peter Drucker once wrote, “Identify the future that has already happened.” For my money, that future has transformed not just our industry, but all industries and all markets.
Nowadays it is harder and harder for companies to preserve traditional competitive advantages. In the 1950s, the carpet industry was the fastest growing industry behind color television and commercial airlines. Today, flat screen TVs are produced and sold all over the world. Almost every product imaginable has a multitude of alternative competitive models. Even the iPhone, which changed the way we use phones, now has countless competition.