The recent admission by Sensis that its future lies in harnessing digital sales is a lesson for any business stubbornly clinging to well-worn strategies that at one time delivered, but no longer can.

The interesting part of yesterday’s Sensis briefing was the no doubt painful acknowledgement by chief Bruce Akhurst that it will take around three years for revenue growth in its digital business to exceed the decline in print revenue.

Likewise JB Hi-Fi’s decision to review its underperforming Clive Anthony’s business after “several years of disappointing returns” is yet another example of a company’s leaders acting too late.

Both businesses were aware of the competition risks headed their way, and yet their senior management teams did not act in time to stem losses.

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