BusinessWeek wrote about Monster.com’s competition and loss of business:
Recruiting: Enough to Make a Monster Tremble
A clear sign that a formerly super-successful dot com with a spectacular profit margin has turned into a typical Fortune 500 Company run by a myopic big city businessman: The CEO eliminated paper cups in the break rooms.
Newsflash: Just like Monster.com replaced the newspaper, Monster better think completely out of the box in order to gain some new, currently unknown, advantage over its online competitors.
As I have worked for major corporations that have gone the same route, here is some advice Mr. Iannuzzi: Put the paper cups back. Not only is your business revenue hurting badly, but you just made all of your employees resentful. These are the people whom you will rely on for innovation and superior service.
Mr. Iannuzzi, I have an idea for you to steal a very cool niche in recruiting. Contact us if you are interested.
JB
Delete this. Who cares about a company that cannot maintain focus on its core competencies? No one that’s who.
I wish them the best but this is ridiculous that a company that has absolutely dominated, allowed themselves to sit on their laurels.
Google hasn’t and still doesn’t sit on its laurels. It continues to attack, ferociously and vigorously all markets that it enters.