Thriving in the midst of uncertainty
Companies that use a traditional strategy process to cope with uncertainty may find themselves playing catch-up with more nimble rivals. By Martin Toner, Nikhil Ojha, Piet de Paepe, Miguel Simoes de Melo and Wade Cruse
KODAK is widely viewed as the classic case of an industry leader that failed to see the digital future coming.
In fact, Kodak developed a digital camera prototype in the 1970s and launched its first commercial digital product in 1991. Its strong brand and ample market power should have made it a force to be reckoned with. Instead, it walked into a set of traps common to large companies trying to come to grips with uncertainty: Its initial moves were small-scale and scattershot. It was unwilling to invest in a business that would cannibalise a highly profitable but rapidly eroding core until it was too late.
A last-gasp big bet was the wrong one - a failed joint venture with Hewlett-Packard to create photo-developing kiosks.
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