Today one of the pioneers of the photography, Kodak Eastman, filed for Chapter 11 bankruptcy protection in the US. After 132 years of dominating the world of photography, Kodak is on the outtake pile.
Yet the photography business has never been bigger. We buy more cameras, take more pictures and share them more today than we ever did and the market is growing. How could a savvy giant like Kodak have so misjudged the market? How could it just stand by and watch the world around it change? How could it stand up, King Canute-like, to the sea of change and get drowned so very easily?
It proves just one thing. You can be the biggest, even the best, but you have to move with the market and change. Microsoft needs to watch this implosion very carefully and mull over just what happened here because you have to innovate to survive. And when management goes to sleep or gets to swallow too much of its own story, that's when danger occurs. The market moves swiftly and pays no respect to status.
That's the Kodak lesson, learnt the hard way.
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