First Republic grew like a weed through its innovative business model. From 2011 (right after its IPO) to 2022, its assets increased roughly 10-fold. Then it went off the rails. The story holds lessons for innovators everywhere.
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Steve Wunker, Author at Branding Strategy Insider - Page 7 of 21
Company cultures will need to change if AI is to thrive in them. After all, powerful AI can ultimately upend work practices and jobs.
Bed Bath & Beyond didn’t respond well to e-commerce taking much of its business. The retailer shifted its assortment a bit, tried to hone its promotional pricing, and targeted its marketing. But it just couldn’t compete with the assortment found online, nor the convenience of e-commerce, nor with many of the low prices. It never found a coherent response.
Disruptive innovation has slain giants in industry, tech, and now…Fox News? Possibly. The pattern of disruption first laid out by Clay Christensen shows disturbing signs for the conservative outlet. And it has zero to do with whether or not you like Fox’s ideology.
Trust matters. This one word – so loaded with meaning and impact – drives competitive market share and pricing in industry after industry where outputs are hard to assess or delivered as a service. Moreover, if a customer doesn’t trust a company, loyalty will be fickle.