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January 18, 2013

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David Ednie

Great post Chris. Business Failure is a failure to adapt, adopt and bring about change.

Kotaro Namba

Hi Chris-san, you remind me Burroughs story, back to more than 30 years ago.
When EFTS(Electronic Fund Transfer System)concept came up in the banking market, people in Burroughs thought check would disappear soon because of EFTS. Then many people in Burroughs was afraid of losing business of check processing system and their job. However checks still exist in our payment system today. And many banks are competing to provide the service which enables customers to make check deposits from their smartphones in mobile banking services.
Beat regards. Kotaro Namba

MarkBrockbank

Chris, as entertaining and thought provoking a post as ever, but with one slight flaw. Kodak *did* get the emergence of digital (check this out: http://www.zdnet.com/blog/itfacts/digital-camera-market-shares-kodak-22-1-canon-20-6-sony-18-3/8579).
"Kodak is the leader of the US digital camera market, with sales of 2.15 mln units in the first half of 2005 and 22.1% market share". So it's absolutely about being ready for change, embracing it, but there is also more perhaps to do with keeping up with the disruption of the market and also doing so profitably. I don't know the full details of Kodak, but maybe they tried to hard to hang on to the old whilst also embracing the new.

Chris Skinner

Afraid I still disagree Mark. Your link is purely for US market share, and is just as mobile phones wiped out digital camera markets once again. And I note this line from the BBC's analysis of Kodak's hits and misses:

"Through the 1990s, Kodak spent $4bn on developing the photo technology inside most mobile phones and digital devices. But a reluctance to ease its heavy reliance on film allowed rivals like Canon and Sony to rush into the fast-emerging digital arena."

http://www.bbc.co.uk/news/business-16627167

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