4 Lessons From Kodak's Comedown

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Kodak were the victims of creative destruction. Every time a new technology comes into a market the old guard struggle to adapt. It is not that they don't see the emerging trend they just find it very difficult to divert the necessary resources towards the new opportunity. 9 out of the top 10 websites in the UK did not have a significant bricks and mortar presence - it is not that WHSmith did not see the opportunity of Amazon they just weren't able to react quickly enough
http://www.youtube.com/watch?v=DxqlAwrcfFE&feature=youtube_gdata

craigonthetrade 4:42PM January 20, 2012

The 4 lessons seem like a joke or "hollow talk". What do I make out of the first lesson "leadership can be a curse"? Do I follow it and try "not to dominate my marketplace and be a leader?". What do I make out of second lesson "beware of the obvious"? Do I avoid the answer that's most compelling (at that time, i.e. of course hindsight is 20-20) and choose less desirous choices based on Rick's advise? What do I make out of the third lesson? Not to diversify? If a business leader diversified (within their core competence) to make alternate revenue streams, is that a bad thing? Many successful firms have diversified and benefited from it. Even unsuccessful firms have diversified and benefited from it. Look at Yahoo's valuation at present being primarily due to its ownership in other firms. What do I make of the most stupid lesson, i.e. the fourth one "Sometimes, your time is simply over". Should I "just give up?". The so-called-lessons are outrageous primarily because there is no value out of them. Rick jotted down some garbage text and published it and because Kodak's bankruptcy is the news of the day I had the misfortune to glance at it and waste my time. We all must benefit from the "lessons" coming out of Kodak's bankruptcy, but there is a difference between a "lesson" and "hollow talk". I do hope Rick's coming book is not as stupid or hollow-talk as his article.

Prem S. of MI 7:28PM January 19, 2012

For the sake of this country I hope businesses learn the lesson Kodak and other failed brands offer.
If indeed the “traditional organization and mind-set got in the way," it means businesses should adopt a new strategy before they too become obsolete: improvise, overcome, adapt!
Complacency does make innovation less necessary and rots business legacies. Therefore today’s CEO’s should be wise to constantly look for new business lines and markets that allow their products to evolve with technological advances and the changing needs of the consumers.

Jackie Chazan of CO 1:31PM January 19, 2012