UK-based travel giant Thomas Cook took the world by storm a few days ago when the collapse of the 200-year-old company was reported by several news agencies across the globe. The collapse is reported to be a direct result of the company’s failure to understand the disruptive themes that have been impacting the industry over the last decade and act decisively to combat them.
According to industry experts, the company’s cessation of trading is a result of a failure on part of its management to recognize the impact of mega-themes such as eCommerce, artificial intelligence, big data, and the sharing economy, on the travel business. Had the company invested early in these disruptive technology themes, it could have been a very different story today, suggest experts.
Thomas Cook’s demise has proved that viewing the world’s data by themes makes it easier to make important decisions. Companies that successfully identify and understand the disruptive themes that impact their business and invest in them become success stories, while those who miss the big themes in their industry, end up running out of business.
The collapse of Thomas Cook has led to imminent confusion and uncertainty in India. However, the company made it clear through its statement that the Indian entity is totally independent, and is therefore not subjected to any direct impact due to the failure of its counterpart in the UK.
Last modified: September 26, 2019