If They’re Not Ready to Change Gears, Specialized Companies May Be Left in the Dust

Image of the back of a man dressed in a suit looking at a sign post with arrows pointed in opposite directions

A research study by the Stanford Graduate School Business on the motorcycle industry found that the longer a company has served a particular market, the more challenging change will be. While specialization can lead to popularity and profits, long lasting specialization and changing consumer tastes, can be fatal especially with competitors ready to address these new trends.