Markets change, tastes change, so the companies and the individuals who choose to compete in those markets must change.

An Wang, the founder of Wang Laboratories, made this statement to highlight the importance of adaptability in business. By saying, “Markets change, tastes change, so the companies and the individuals who choose to compete in those markets must change,” Wang emphasizes that external conditions are never static. Consumer preferences, technology, and competitive landscapes are always evolving, and businesses must evolve with them to remain relevant.

The quote reflects a fundamental principle of long-term success: the ability to change. Companies and individuals that cling rigidly to old strategies, products, or ways of thinking risk being left behind. Wang’s statement underscores that innovation and responsiveness are not optional but essential traits for survival in dynamic markets.

The origin of this statement ties to Wang’s experience in the rapidly changing technology industry. As the head of a company that once dominated the word processing market but later struggled to adapt to the rise of personal computers, Wang understood firsthand how failing to keep up with shifting tastes and markets could lead to decline. His insight was both a lesson learned and a warning to others.

Ultimately, Wang’s message is about embracing change as a constant. Both companies and individuals must be willing to adjust strategies, adopt new technologies, and anticipate customer needs to stay competitive in an ever-changing world.