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Apple went into a decade-long downward spiral after CEO Steve Jobs left the company in 1985 and lower-priced . The company soon developed a reputation for its terrible service. Alphabets speculative moonshot business units have controlled spending and are working toward becoming profitable. He repaired the airlines image by bringing in a new marketing expert and hiring Colin Marshall as the new CEO in 1983. Here are 10 examples of companies that successfully reinvented their business. Cinderella and Lightning McQueen. Created in 1974 from four other companies BEA, BOAC, Northeast Airlines, and Cambrian Airlines they formed a business with 215 aircraft supported by 50,000 employees. The company had invested in offshore wind power, but the technology was too expensive, producing energy that was more than double the price of onshore wind. From business ideas to researching the competition. Netflix saw rapid growth until 2011 when CEO Hastings decided to split user subscriptions into two separate categories at a hiked price: DVD rentals and unlimited streaming services. Chipotle launched its 100th Chipotlane in July 2020, and it intends to hire as many as 10,000 new workers to support this new initiative. The owners heard about a schoolteacher using the clay in arts and crafts classes in their hometown of Cincinnati. An example of this would be when company leaders decide to discontinue a major product due to low sales and consumer interest. Each of Alphabets companies has its own goals and a CEO focused solely on those goals. Hulu recently announced a company reorganization to accommodate company growth and further enhance and expand its streaming content for customers. To apply the vesting rule to security granted by successfully restructured companies, her Honour noted, would mean that they were treated differently and disadvantageously from companies which had . Now that you know how the giants of the industry approach change, its your turn to prove yourself and take action! Editors note: Every ranking or index is just one way to analyze and compare companies or places, based on a specific methodology and data set. When times get tough and people are being laid off, remaining workers become very fearful. Although such a strategy can seem like a veiled attempt to cut jobs, having employees apply for new positions could help the publication identify internal candidates for roles rather than having to do layoffs and subsequently recruit from the outside. As the memo said, We dont and cant compete on breadth with Comcast, Sky, Amazon, Apple, Microsoft, Sony, or Google. Some employee positions have already been cut in the WSJ Asia and Europe bureaus, but in the U.S., WSJ plans a reorganization of existing staff rather than a series of layoffs or position eliminations. Microsoft's organizational transformation and new purpose. We looked at the shift to combat climate change, and we became one of the few companies to wholeheartedly make this profound decision, to be one of the first to go from black to green energy.. In 2012, Denmarks biggest energy company, Danish Oil and Natural Gas, slid into financial crisis as the price of natural gas was plunging by 90% and S&P downgraded its credit rating to negative.