IN BUSINESS, when sales and profits decline progressively over time, it means among other key things that the erosion of the brand has set in and usually the task of rebuilding it can be very challenging and disruptive. But it also means that the problems that caused the decline must be fixed before the brand rebuilding can resume. This is essentially what is meant by creative destruction. History has many examples of global brands, such as Jaguar, that underwent creative destruction and then reconstruction with a new management team. Others have disappeared from history through bad strategic judgment that led to self-destruction. In business, the demise and disappearance of brands occurs all the time irrespective of how strong they were. For corporations, creative destruction is a means to restructure and transform in order to stay congruent with the dynamic market shifts. In the case of political parties, it is all about the need for overhauling leadership. Self-destruction, howev...

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.