At the AEM Annual Conference last year, Peter Diamandis, CEO of XPRIZE, made a bold prediction to those of us in the audience. He predicted that a decade from now 40% of today’s Fortune 500 companies will be put out of business by disruptive technologies. Although that probably sounds extreme to many of us, I’m sure that former employees at Kodak, Blockbuster, and Borders are less blown away the prediction.
I have been a fan of Jim Collins since reading Built to Last while pursing my MBA. Jim Collins and his co-authors have been exploring what makes a great company that can persist over time. I most recently read How the Mighty Fall. In this book Collins discusses how what was viewed as a great company can fall to non-existence, or at a minimum, a shell of their former selves. This book especially was of interest given that I formerly worked at Motorola and Collins discussed some of the key mistakes made while I worked there that led to the fall of Motorola.