In today's dynamic business world it's axiomatic one cannot continue to follow the same business model indefinitely. Even thousands of years ago strategists knew that one cannot depend on using the same approach over and over again to achieve success. As Sun Tzu said, "Therefore, when I have won a victory I do not repeat my tactics but respond to circumstances in an infinite variety of ways."
In an interview with the Wall Street Journal Tom Freston, CEO of MTV, gave five rules he has to keep up with the ever-changing youth market. They are
1. Consumer research is key. Do as much as you can.
2. When a generation moves on, don't follow it. Focus on the next one coming up.
3. Develop a young staff and culture that are inherently interested in what you do.
4. Make your business a fun place to work, where ideas flow from the bottom up.
5. Remember that Chinese, German and American teens have different experiences.
Cater to local tastes.
As these rules point out, one must be constantly adapting the company strategy to the marketplace and the competition. As Sun Tzu said, "The musical flavors are only five in number but their melodies are so numerous that one cannot hear them all."
