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Memo to the CEO

Learn the difference between fads and trends. In the good old days, there was plenty of time to notice fads, some of which unfolded into trends that then became mainstream practices. But today, we think in terms of nanoseconds and instant industries because the speed of change has increased tremendously. This increase is mirrored in the blisteringly fast-paced trends, including: technological innovation, rapid new-product introductions, changes in customer requirements, declining prices, evolving industry standards. Today, new products and technology often render existing services or value propositions obsolete, excessively costly, or otherwise unprofitable.

Your company's success depends on the ability to innovate and integrate new technologies into service offerings. Executives must become proficient trend spotters; if they don't, their companies will fail. Businesses have spent the past decade scaling mountainous change created by colliding technology, consumer, and quality trends. But despite how high each company manages to climb, they all reach the same chasm: the digital revolution, which affects every business equally, regardless of industry, size, or principles. Can your company ascend the peak of change, or will you watch a young, energetic upstart reach it first?


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