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
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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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