Changes in industry dynamics, typically caused by technology, can lead to doomsday for established players. IBM, which dominated IT for decades, faced this in the early 1990s. It took an outsider, Louis Gerstner Jr., to save the company. But photography giant Eastman Kodak wasn't able to manage a turnaround and went bankrupt in 2013.
The global auto industry is now facing structural changes with EVs. An ICE vehicle has hundreds of moving parts, so the auto industry's supply chain is vast. Managing this network of thousands became a major entry barrier for new players. By the 1980s, all major players had a significant presence in the three major markets of North America, Western Europe, and Japan, preventing the entry of newer players.
This story is from the December 28, 2024 edition of Financial Express Chennai.
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This story is from the December 28, 2024 edition of Financial Express Chennai.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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