In her bestselling book Mindset, psychologist Carol Dweck argues that people who see their skills as a fixed set of strengths and weaknesses tend not to achieve much. On the other hand, those that see their skills as dynamic and changeable are able to continually grow their abilities and soar to great heights.
Businesses are the same way. Most see their business models as a permanent facet of their DNA, so when their environment changes, they fail to adapt. That’s why 87% of the companies on Fortune’s original list of 500 top firms are no longer there. Over time, most companies get better and better at things that people want less and less.
Via Jeffrey Jablonski, Ph.D.