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Posted: 25 Mar 2012 | 6:00 am
From industrial wunderkind to bankruptcy, most any business should take a look at the saga of what want very very wrong with the collapse of the once admired Kodak.
A useful analysis on the subject has come out of Knowledge@Wharton on where the train when off the tracks and plunged into perpetual purgatory.
Despite a roll call of innovations and leading technology, company leadership which was unable to change with the markets is the main catalyst for disaster.
Despite heavy investment into R & D (research and development), interaction with management at a higher level caused a short circuit.
There was no attempt to match business strategies with new products or establish needs (case in point is Apple - who really needs an iPad, very few. But who really want's one. Almost everyone).
Ultimately the company kept a foot in its comfort zone of old comfortable product rather than heading into the brace new digital world.
Lessons learned. Keep evaluating, changing and adapting business models on a fast track basis. Snooze and you lose or else end up in the land of the big sleep.
A column featuring environmental issues and conservation around the island. Click here for more Green Reports check out the latest story from the leading experts:
A recent Channel News Asia television segment Boomtown Asia checked into the island's environmental, and sustainable tourism sectors.
The innovative Evening Breeze environmental cooling system is gaining global attention in the resort markets and villas.
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