While the answer will almost certainly vary by industry, the challenges that companies face are actually quite similar. Below are what I view as the five main reasons that businesses fail to adapt to radically new circumstances. Consider them traps to be recognized and avoided. Failure to appreciate the power of new ideas.
Companies significantly underestimate the potential size of a new opportunity.
Minicomputer companies never saw how big the PC business would get. Worse still, they focused on the weaknesses of the early PCs rather than their long-term potential. Too much focus on the current business. Lacking the necessary management bandwidth, many companies instinctively and understandably shy away from conducting a two-front war, often to the detriment of their online operations. Not accepting the impact on the current business.