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Invent, Reinvent, Thrive: The Keys to Success for Any Start-Up, Entrepreneur, or Family Business by Lloyd Shefsky

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6

Kodak and IBM: The Goliath Factor

EASTMAN KODAK AND IBM WERE JUGGERNAUTS IN THEIR respective fields. Film giant Eastman Kodak gave us the “Kodak Moment,” which persists as the quintessential photographic experience even though Kodak in decline is not a major factor in the digital camera age. IBM (Big Blue) was so pervasive in mainframe computers that purchasing agents bought Big Blue computers knowing they would never be fired for making this choice. Both companies were supremely confident, making decisions that presumed the past was an appropriate guide to the future. They did so even as the world was changing dramatically. The seeds of their downfall are echoed in Schumpeter’s creative destruction idea whereby changes in customers’ taste, ...

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