Complacency is a slow poison
The sense of entitlement, complacency and the imperial privilege can be observed even today in almost all the nations that once had a great empire - Spain, Portugal, Britain and France. Unfortunately, now the same feeling can be quite frequently seen in the United States, Australia and even Canada.
There seems to be a belief among a large number of people that the world (or nature, or universe or some such entity) owes them a comfortable living, whether they do anything to deserve it, or not!
In the former imperial nations, this could be understandable because generations grew up hearing legendary stories of fabulous riches, derived from the empire where just being part of the winning team ensured a comfortable lifestyle. For example, Cecil Rhodes famously said "Remember that you are an Englishman and have consequently won first prize in the lottery of life." Spain, Portugal and France show remnants of decaying aristocracy that suffers from this mindset.
As a result, companies suffer from missed opportunities. Slow reactions, incoherent strategies, half-hearted execution and failed transformation. Most of the business in comfort zone and they don't recognize the need to go beyond, to actual create viable 5-star business to business network.