Adapt and evolve… or die
Economics and Darwinism have a lot in common.
The Nurse has been keeping a weather eye on General Motors for a few years now – ensconced in clink at Her Majesty’s Pleasure - and she isn’t surprised they’ve gone belly up.
Over the past decade GM resisted positive change on a spectacular scale. While many Americans turned to smaller, fuel-efficient vehicles, GM continued to focus on gas guzzling monsters. Perhaps they were too big to change quickly enough. Or too arrogant. Or too inflexible. Or too short sighted.
Whatever the reasons, this is a sad day. The death of GM presents a salutory tale. To survive and thrive in the long term - just like living creatures - businesses need to stay lean, nimble and flexible. Or risk extinction.