One of the greatest
risks for a business is to not understand why it really exists. Lack of
understanding often leads to poor decisions, missed opportunities and even
disaster.
This misunderstanding
can be seen with Kodak. Consumers were buying memories – Kodak was
selling film. As soon as a more efficient method became available, all the IP,
infrastructure and experience Kodak had became worthless.
How could this happen?
Kodak was a pioneer in digital technology yet, as Pete Pachal writes in Mashable Tech, “they squandered every
opportunity they had, finally entering bankruptcy in 2012. They were simply not
able to change.”
