There have been many instances when the old companies are slow to adopt to the changing technology that is sweeping their industries or generally overall and they miss the boat and ultimately go out of business. Well if you don’t keep up with times and skills and technology you are bound to be left behind and perish. Individuals who resist learning new skills and technology are left behind with few jobs or even no jobs and then they blame anybody but themselves for their predicament. The same happens with companies even the ones as simple as selling clothing and regular merchandise, if they don’t change with the times, adapt new fashions or even reach out to the new social media, they go out of business.
Without naming any names in industry, you can see that the stores of yesteryears are no more, even the ones who have been around us for more than hundred years and were pioneers in their fields at the time, have been left in the dust since their founders or their CEO were slow to adapt to new business methods and new technology. It is hard to adapt to new technology and changing tastes of customers especially for those companies who have been in the forefront of old technology, but time does not remain the same forever and if they don’t change, then they perish and then they become part of history taught in business schools of how not to become like them.