‘The...process of industrial mutation...incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one. This process of creative destruction is the essential fact of capitalism.
It is not [price and output] competition which counts, but competition from the new commodity, the new technology, the new source of supply, the new type of organization’.
[He then adds]
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'Only the Paranoid Survive' - Andy Grove
So how do you know whether a change signals a strategic inflection point? Ask these questions to attempt to distinguish signal from noise.
Is your key competitor about to change? When the answer to this question...
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'More Than You Know' - Michael Mauboussin
Just to give you some sense of how much change we've seen in the past hundred years or so, take a gander at the first list of industrial stocks Charles Dow assembled in May 1896...
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