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Fresh research has cast an interesting light on the disappearance of the dinosaurs. According to a paper published in Biological Reviews, the catastrophic effect of the asteroid strike was partly due to ‘bad timing’. A team of scientists lead by Edinburgh University’s Dr Steve Brusatte and supported by some of the world’s top dinosaur museums took part in the study which concluded that at the time of the asteroid strike the dinosaurs were already vulnerable thanks to a lack of diversity amongst the plant eating species. This lead the study’s authors to conclude that had the meteor struck earlier when species were more diverse or later when fresh species had evolved the effects would not have been so catastrophic.
Without wishing to call any organisation ‘a dinosaur’ the conclusion reached by this study bears striking similarities with the way in which some businesses failed to survive the recent recession. Already operating in a weakened ecosystem, losing custom as traditional sales channels fell to newer internet-based models and more agile rivals, businesses were vulnerable to being wiped out when the recession struck. Had the recession happened earlier when there was a more level business playing field, or later when businesses had been able to gear up to meet more agile rivals the results may have been very different.
Small wonder then that the watchwords for today’s post-recession businesses are agility and innovation allied to a strong internal culture which seeks to be always ahead of the game.