Times are changing, and rapidly.
The demands of both customers and employees are now radically different from what they were just a couple of years ago, and it is already clear that the companies which aren’t meeting those demands are beginning to lose market traction and may ultimately struggle to survive.
And while the pace of change is increasing, the concept of being left behind by technological advances is as old as commerce. Netflix replaced Blockbuster, just as the internal combustion engine replaced horses, and farmers supplanted hunter-gatherers.
It’s a process the Austrian economist Joseph Schumpeter referred to as 'creative destruction'. He described it as “the process of industrial mutation that incessantly revolutionises the economic structure from within, incessantly destroying the old one, incessantly creating a new one.”
Note that word “incessantly” – there is no time-out, and no escape from the competitive forces that drive the economy forward.
When it comes to technology, the best analogy is surfing. Riding the wave of innovation well; the continuous adoption of the latest release keeps you on your feet, surfing the wave successfully for longer, but poor execution or a simple lapse in concentration could mean a wipe out.