The top executives of many a corporate giant must feel like the fictional character Gulliver, waking up to find themselves under attack from modern-day Lilliputians, small start-up companies which overwhelm their established rivals with new technologies.
The old powers of market incumbents – massive scale, control over distribution, brand power, millions of customer relationships – are no longer seen as the obstacles they once were to agile rivals with innovative business models.
A new survey finds business leaders believe four out of 10 top-ranked companies in their industries worldwide won’t survive the next five years.
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Source Credits: Reuters, The Economic Times