'Kodak, Blackberry Struggled From Perfect Execution Of....': Mamaearth's Ghazal Alagh Details 'Biggest Risk In Business'

(MENAFN- Live Mint) In the age of constant hustle and high-stakes decision-making Ghazal Alagh, the Co-founder of Mamaearth, has come up with a complex understanding about the“biggest risk in business.” Referring to business outcomes of big companies like Kodak, BlackBerry and Blockbuster, the 37-year-old said that the biggest risk in business isn't competition instead it is fighting yesterday's war with tomorrow's money.

In a LinkedIn post, Ghazal Alagh warned that businesses risk failure by clinging to past strategies in a competitive landscape as suggested by the consequences of big businesses.

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Highlighting the dangers of not evolving with consumer needs and technological advancements, she stated,“Kodak invented the digital camera in 1975. Then spent the next 30 years perfecting film technology. BlackBerry dominated smartphones. Then kept building better keyboards while Apple removed keyboards entirely.”

'Blockbuster' is another example of failure of big companies to innovate. It had the chance to buy Netflix for $50 million the company leadership was busy optimizing late fees, Ghazal Alagh said.

Suggesting that there is a pattern, she implied that businesses should keep in mind these cautionary tales and adapt to the rapidly changing market to stay ahead and to scale a D2C brand. Ghazal Alagh wrote,“All these great companies didn't struggle because of bad execution, but from perfect execution of outdated strategies.”

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She concluded the post with the statement,“The biggest risk in business isn't competition, it's not thinking one step ahead.”

Social media reaction

Social media users strongly reacted to the post as one user stated,“Understanding the changing behavior of your client is the key thing that every Founder needs to adapt to running their business.”

Another user remarked, "What works today may not work tomorrow.

Customer preferences are constantly evolving, and businesses that fail to adapt risk being ruled out. The real differentiator lies in adapting early to keep delivering the best to customers."

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A third comment read,“Perfecting yesterday's hacks is like polishing a Nokia keypad in the iPhone era.”

A fourth user wrote,“The best founders stay paranoid enough to ask, 'What if this stops working tomorrow?'”

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