EP 46 - Blackberry

You may remember Blackberry, but do you remember one of the key reasons for its downfall?

Transcript

Do you remember BlackBerry?

BlackBerry once dominated the mobile device market with its business-focused phones. But groupthink within the company led to its downfall. They agreed to stick with what worked before, ignoring changes in technology and customer wants. They resisted new ideas like touchscreen technology, believing their keyboard design was best and that consumer apps would never be allowed on business devices and this caused them to fall behind competitors like Apple and Android, who understood what people wanted. BlackBerry’s failure to adapt and innovate made them lose customers, and their reputation suffered. Blackberry is just one example of a highly successful business that suffered from groupthink. So remember - "Groupthink stifles innovation and leads to complacency. It is the silence of dissenting voices that often precedes the downfall of great endeavors."