Its official. Kodak filed for bankruptcy today.
The 131 year old company went from being the leader in the industry, to losing sight of a strong, successful path.
They went from employing 63,900 to 17,000 in less than 10 years.
They failed to see future trends (even though they developed digital technology), which ultimately cost them everything.
Yet its not uncommon in today’s world.
We see it everywhere. The big companies of yesteryear are falling every day.
Part of it is the “red tape” that exists behind the industry walls. They do business the way it’s always been done. They can’t change quickly. They can’t react to current trends and what people want the most.
So they are dying off.
What’s needed in the future are quick thinkers, rapid reactors and speedy implementers.
When a new idea is conceived, you need to jump on it as fast as possible. [Read more...]