Obsolete rules of competition from the 80s hold companies back today

Many 21st century companies continue to compete based on outdated norms and strategies established in the 1980s. This approach, rooted in mass production, mass marketing, and mass advertising, fails to meet the demands of the digital age. The advent of digitization, cheap computer capacity, telecommunications, and algorithms has revolutionized business. Companies must now personalize and innovate for individual customers, as shown by Amazon's success. The use of algorithms and digital technology allows for mass personalization and convenience, creating a new form of competition that traditional approaches cannot match.