Theory of the Business
Origin: Peter Drucker
Biological Parallel
Every species occupies an ecological niche—a 'theory of the business' about how to convert environmental resources into survival and reproduction. Koalas bet everything on eucalyptus (highly specialized niche theory); pandas on bamboo. When eucalyptus forests fragment, koalas can't pivot—their theory is too narrow. Giant pandas face the same risk. Meanwhile, raccoons thrive with a generalist theory: 'eat anything, live anywhere.' Blockbuster's theory ('people want physical stores') worked until streaming changed the environment, just as the thylacine's theory ('apex predator of Tasmania') collapsed when humans introduced competing predators. Your theory must match current reality, and reality doesn't wait for you to adapt.