Most with a grasp of business history know the rudiments of the Kodak story: a titan company, employing 160,000 people at its peak, and an integral part of the Dow Jones Industrial Average. Kodak, as late as 1976, dominated the film and camera business, with a staggering 85-percent share of camera sales. They invented digital photography technology, even set up a separate division to drive it, but decided in the 1990s not to pursue it because there was no way to monetize it, and hoped it “went away.” In a nutshell, Kodak failed to change when the world changed around them. In a strategic blunder of historic proportions, Kodak clung desperately to the film and photo-paper business model. By 2012 they declared bankruptcy, and what’s left is now a mere shell of its former self. How many people do you know who own a Kodak camera today? From 85-percent share to nothing in just three decades! It would be almost unfathomable if it weren’t fact. The world changes, and … [Read more...] about Are century-old business giants the next Kodak?