🚀 Remember Circuit City? During my time at Verizon in the Indirect Channel, I had the opportunity to support their account. Founded in 1949, Circuit City was a Fortune 500 company for 20 years. However, despite becoming a leader and pioneer in the consumer electronics industry in the 1970s and 1980s they ultimately faced demise.
👉 Circuit City reached its peak in the 1990s, surpassing its rival Best Buy. However, one major mistake led to its downfall: a failure to adapt and innovate to changing consumer preferences and shopping behaviors. The company was slow to embrace online retail and did not invest enough in innovation and differentiation, relying too heavily on its old business model.
💡 The moral of the story: lack of innovation never leads to success.
#innovation #verizon
Finance Global Lead @Verizon | Cyber Risk Manager, Project/Product Manager |RTE| Writer |Author| Playwright |Producer/Director | Network Engineer | Agile Foundations
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