I was reading in Wall Street Journal that says:
..., the company BlackBerry just doesn't cut it anymore.
What does the phrase mean?
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Take at look at this list of idioms, and observe the entry for "cut the mustard."
Figurative use of "mustard" as a positive superlative dates from 1659 in the phrase "keen as mustard", and use of "cut" to denote rank (as in "a cut above") dates from the 18th century.
The term "mustard" here may be a corruption of "muster," or ability to accomplish a task - suitability (viz: to pass muster).
Ergo, it's quite likely that the expression in question has ellided the word "mustard," as "to cut it" is now a standalone idiom in its own right. As snumpy notes above, the meaning is that "The Blackberry is no longer good enough for general business users."
The rest of the WSJ article is about issues of employees using personal smartphones with company data, so perhaps the company Blackberry is no longer cutting edge.