Business lessons from failed global giants

A KRA officer inspects alcoholic drinks in Nairobi, Embakasi sub-county to fish out businesses with no health and operating licenses. [File, Standard]

Startups are increasingly disrupting established businesses, thanks to the ever-evolving technological innovations. Some businesses that were once market leaders are now a pale shadow of their former selves and behind their failures lie key lessons.

Some, however, have known of ways to stay in the market through innovation. Take the example of Amazon whose core business is online shopping. It has since diversified and today produces television shows and offers web services.