Crisis breeds innovation. Companies like Texas Instruments, Xerox, and Motorola were founded during the Great Depression, which may not seem like one of the best times to launch a new company. While it is more difficult in bad economic times for enterprises to raise money and attract new customers, this increased focus on value means that only the best ideas and products succeed. Some industries, such as the food and beverage industry, are in a constant state of crisis due to slim margins and increased competition which have forced enterprises to differentiate themselves by developing operational advantages and creating new customer experiences. Companies like Heineken, Buffalo Wild Wings, and Chick-Fil-A have started using Internet of things (IoT) solutions to gain competitive advantages in their respective markets. While overshadowed by larger verticals such as the industrial, manufacturing, and logistics markets, the food and beverage industry is continuing to grow as enterprises realize the value these solutions provide.
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