There’s no greater truth in the business world than the fact that nothing is permanent. No one knows that better right now than Hostess, the maker of Twinkies. The world changes and a good business needs to stay on its toes. Sometimes businesses pivot at just the right time to gain new market share or capture an entirely new market. Apple being the quintessential example: going from a 2nd best maker of personal computers to a maker of simple, stylish lifestyle devices.
Here’s a fun look by the website Best Accounting Schools at 4 companies we all know and love who effectively came back to life through some out-of-the-box thinking and risk taking.
Apple did it with the iPod. Lego reinvented itself, taking a cue from Disney. Ford got back to fundamentals, taking a cue from the Japanese car makers, and beating them at their own game. And Old Spice hit a homerun with a simple, ultra effective, hilarious advertisement that drastically expanded their market share in the younger generation.