Eastman Kodak Company’s Post

🔙 Kodak dominated photography for decades, even inventing the first digital camera in 1975. But fear of cannibalizing their film sales led them to shelve the technology. Meanwhile, rivals like Sony and Canon embraced digital, reshaping the industry. By 2003, Kodak's film sales collapsed, leading to a $1.1B loss in 2007. In 2012, drowning in $6.75B of debt, Kodak filed for bankruptcy. Kodak’s fall is a cautionary tale for all businesses: Adapt to innovation, or get left behind. What other companies do you think missed their shot?

The "Kodak Moment". The Kodak story stands as a bitter reminder of what happens when organisations do not manage innovation effectively. Kodak, a titan in the photography industry, relied on film as their core business which got disrupted by a new innovation In 1975 — the digital camera. Ironically, this innovation came from within Kodak's very own walls and also marked the beginning of Kodak's decline. While Kodak focused on preserving their existing film market, competitors seized the opportunity, transforming the photographic landscape to digital without the original inventors, eventually contributing to Kodak filing for bankruptcy in 2012. How could Kodak have managed their internal innovation better to avoid this historical catastrophe? Share your thoughts in the comments, we would love to hear them. Discover more on our blog 🔗 https://lnkd.in/dw7EcD8n Talk to us about your Innovation Challenges 📧 info@otinga.io #innovation #kodakmoment #innovationmanagement #safe6 #disruption

Companies like Kodak were too slow to embrace change—and it cost them. When digital photography started taking off, Kodak was reluctant to change, fearful that it would cannibalize their film business. Though they adapted to digital, their fear held them back for too long, and their competitors gained a foothold in the market. Kodak filed for bankruptcy in 2012. Stories like those strike a chord with us, and we’re listening—you’ve told us what could be better. A new weekly meeting experience is coming soon. Better functionality. Better features. Better collaboration. #bettermeetingswithbloom #createnewpossibilities #quoteoftheday #betterwithbloom

Interesting perspective on businesses failing to see their core business as a potential threat to further growth.

For innovation to succeed, you often have to be willing to compete with your core business. In my opinion, this rule could apply not only to companies, but also to individuals and professionals.

𝗧𝗵𝗲 𝗣𝗼𝘄𝗲𝗿 𝗼𝗳 𝗦𝗮𝘆𝗶𝗻𝗴 '𝗡𝗼': 𝗔 𝗟𝗲𝘀𝘀𝗼𝗻 𝗳𝗿𝗼𝗺 𝗞𝗼𝗱𝗮𝗸'𝘀 𝗠𝗶𝘀𝘀𝗲𝗱 𝗢𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆 Back in the 1970s, Kodak was the leader in photography, holding over 80% of the camera market share. In 1975, one of Kodak’s engineers, Steven Sasson, invented the first digital camera. But instead of pursuing the innovation, Kodak’s management said "No," fearing it would cannibalize their film business. Fast forward to the 2000s, Kodak missed the digital photography revolution, which eventually led to its bankruptcy in 2012. Here’s the kicker: A Harvard Business Review study shows that 76% of product failures are due to companies resisting innovation that conflicts with their existing models. Sometimes, saying "No" to immediate comfort is saying "Yes" to the future. As product managers, our responsibility is to embrace change, even if it threatens the current state of things. Don't let short-term fears blind you from long-term opportunities. How do you navigate difficult "No" decisions in your product strategy? #ProductManagement #Innovation #LessonsInLeadership #ProductStrategy

Remember KODAK? The name itself was designed to be easily spelt and pronounced in any language and the logo was recognised everywhere. If you did photography of any kind in the past you will have surely used their film. Unknown was the fact that it was an employee of KODAK that developed (!) the digital camera. The bosses did not like the idea so he left and gave the idea to someone else. Memories of an Ektachrome day? Remember that statement? Few will by now. Other memories, well overpriced monopolistic all come to mind. Kodachrome film ( colour slide only) had such a complicated processing regime only Kodak could do it. Now there is a true monopoly. Some processors tried it in the USA after they were subject to Monopolies rulings but they could hardly afford the investment of equipment primarily from KODAK itself. Are we sorry to see them go? Not really they deserved it. But how could such an iconic company that almost invented camera film and certainly refined it over many years fall so heavily and fast? Not looking both ways keeping an eye on the road ahead and watching the rear view mirror. Listen and learn!

ALWAYS EVOLVE !! Business involves RISK but the greatest of all risk is not taking any RISK at all . Some time ago a particular photographic company which was doing well in business gradually disappeared from the scene due to one major MISTAKE. Am employee of KODAK, Steven Sasson approached his boss one day with the IDEA of a digital camera which will make photography easier, simpler and faster but the boss rejected his idea. Because of that humiliation Steven went to SONY which was KODAK’s greatest competitor. Sony adopted the idea and launched the first DIGITAL CAMERA. They gradually flooded the market with the newly IMPLEMENTED IDEA. Soon afterwards in January 19th 2012, KODAK officially filled for bankruptcy. The end of the Brand ! Don’t get to a point in business where you settle for what worked yesterday because todays market is different. There are new methods and ways of doing things in the now . By my understanding, the first thing you can do to a NEW IDEA is to DISCARD it. Yes, you heard me right ! But you will agree with me that there is nothing in EXISTENCE today that didn’t begin as an IDEA in someone’s mind . Don’t DISCARD that idea instead IMPLEMENT it . The risk of implementing it is better than the risk of not doing anything with it. Think about the new way you can improve the way you do business. ✅ It could be your customer service . ✅ It could be your marketing strategy. ✅ It could be the packaging of your product or service. ✅ It could be the way you write your sales offer. It could just be anything!! Just THINK about it and IMPLEMENT it !! Remember: IDEAS are like SEEDS till they are PLANTED, they won’t produce FRUITS !! Need help in your business? Comment below and let’s get started today . #business #chimaandtraffordnigeria #traffordconsulting #learn #strategy #structure #knowledge

Just watched Snake Denton’s Channel 4 documentary on 3D Printed Firearms. Link: 'I Printed a Gun: Plastic and Deadly'? Watch it here on Channel 4: https://lnkd.in/espTe9gU Link: https://lnkd.in/eK-5UqCm What struck me is that the Online Safety Act and Ofcom’s Illegal Harms Consultation, published immediately after Royal Assent, has gone unnoticed. Our position on 3D Printed Firearms Digital Files has not changed since late 2023. We share the concerns raised in the documentary and have worked since early 2024 with key external stakeholders to build a robust evidence base to support our position. Within our Illegal Content Judgement Guidance (ICJG), originally within the consultation and now one of the guidance documents published yesterday within our Illegal Harms Statement; 3D Printed Firearms Digital Files & Instruction Manuals are categorised as ‘Priority Illegal Content.’ To be in compliance with the Online Safety Act 2023, Social Media and Search Services need to conduct a Risk Assessment for Priority Illegal Content by March 2025. In essence, 3D Printed Firearms Digital Files & Instruction Manuals are just one type of content online services are legally required to protect UK Users from. For full details, check out my post: https://lnkd.in/e7MSr97v #OSA #Ofcom #3DPMF #3DPF #3DPrintedFirearms

World's most powerful photo company, Kodak, was worth $31 Billion, $10B in annual revenue and Millions in pure profit everyday. 💸 But they made ONE fatal decision, one of the biggest business mistake in history. 🤦 In 1975, Kodak stood as a titan in the photography industry, commanding 90% of film sales and 85% of camera sales worldwide. That same year, engineer Steven Sasson developed the first portable digital camera within Kodak’s labs. However, the company’s leadership, fearing the potential disruption to their lucrative film business, chose to suppress this groundbreaking innovation. As digital technology advanced, competitors embraced the shift, leaving Kodak behind. By 2012, Kodak filed for bankruptcy, marking the decline of a 142-year-old industry leader. The lesson? Success can breed complacency. Kodak’s reluctance to innovate, despite possessing the technology, led to its downfall. In today’s rapidly evolving business landscape, continuous innovation is essential to remain relevant. #Innovation #Leadership #BusinessStrategy #DigitalTransformation #Adaptability #ChangeManagement #Disruption #Technology #LessonsLearned #FutureOfWork