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Get a sixth sense for threats and opportunities

If you want to remain competitive, you must learn to spot “directional shifts” in the making ahead of your rivals, write George S Day and Paul J H Schoemaker for MIT Sloan Management Review

Until the late-1990s, RadioShack, a retailer specialising in electronics for hobbyists, founded in 1921, was successful, with more than 4,000 stores across the US, Canada, Mexico, the UK and Australia. Then, having failed to adapt to the brave new world of e-commerce, it filed for bankruptcy in 2015.

For Day and Schoemaker, RadioShack could have avoided this fate had it put the right systems in place to spot the shift to e-commerce earlier and been able to prepare for it.

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Credits:
Source Article: How Vigilant Companies Gain An Edge In Turbulent Times
Author(s): George S Day and Paul J H Schoemaker
Publisher: MIT Sloan Management Review