21 August 2016 13:11:25 IST

Why are we still classifying companies by industry?

There are four simple ways to classify companies to suit the contemporary needs

With technology invading every aspect of our lives, it is becoming increasingly harder to label companies based on the industry they belong to. Take for example Apple or Google; they have made significant moves in the automotive, healthcare, media, and smart home markets, among others. So how do we classify them?

According to an article in the Harvard Business Review , there is more fluidity and flexibility for companies these days. So instead of focusing on vertical industries, it’s time to look at business models instead. To read more, click here .