The fast pace of decline

Prior to 2007, having a GPS in one's car was considered a must have for those travel often or as part of their jobs.  Garmin was a major and successful GPS manufacturer.  It's time had arrived on the business scene.  Then with the launch of the iPhone, demand for GPS has declined and been displaced by Google maps and other map services available on Apple's highly anticipated product.  Garmin's time in the business limelight has been displaced with its volume will continue to erode as smartphones continue to increase in functionality.

Then, there was Amazon's e-reader called Kindle.  Its features and functionality were a reader's delight.  It was a hot product despite retailing for close to or over $300.  Now, Apple's iPad threatens to displace the Kindle, Barnes & Noble's Nook, and other e-readers.

The fast pace of technological change not only impacts us as consumers but businesses, too, as the landscape is shifting like quick sand.  A company's tenure on top of their industry's hill will continue to be short-lived if they rest on past accomplishments and ignore the external environment.