Tunjay Seyidali presents:
Nokia and Kodak are known in business history as cautionary tales of once-dominant corporations brought down by their refusal to adapt to technological change. They failed in an atmosphere where adaptation is key by ignoring the introductions of digital photography and mobile phones. Their challenges were exacerbated by a talent drain, cultural conservatism, and innovation myopia. To flourish, firms must establish innovation boards, manage human capital, and foster an adaptable culture. However, Kodak's demise demonstrates that not all disruptions can be mitigated, even with foreknowledge. Their experiences serve as poignant reminders that improvement is not only essential but also required in the technology sector.
