Kodak was once synonymous with photography and had a virtual monopoly on the photographic film market.
Strategic Failure: Despite inventing the first digital camera in 1975, Kodak failed to transition its business model from film to digital photography.
Lesson: The inability to adapt to disruptive technologies, even when you invent them, can be fatal. Organizations must be willing to cannibalize their existing revenue streams for long-term survival.
For all things Strategy, Management Theories, and Business Frameworks, please visit https://www.stratrix.com