Great companies respond when the sands are shifting

The video discusses the transformative impact of the iPhone on the mobile handset market, highlighting how incumbents were challenged by a new player. Initially, there was skepticism about the lack of a physical keyboard, but the market evolved from phones to mobile computing. Companies must adapt to these shifts, recognizing that success may require changing established business models. The focus has shifted from hardware to software, and great companies are those that can adapt to these new realities.

What was the initial reaction of people towards the iPhone's lack of a keyboard?

How did the introduction of the iPhone change the perception of the mobile phone market?

What challenges do organizations face when adapting to market shifts?

In what ways has the mobile phone industry evolved from hardware to software?

What does it mean for a company to realize that it may need to change in response to market shifts?