Its interesting to note that Kodak all but invented digital photography in the seventies with some really valuable patents around OLED montior technology. They could have adapted and DOMINATED ditigal photography. But they saw themselves as a chemical company, selling high margin film for cameras they were practically giving away. Kodak saw digital photography as a potential drag on profits! Oops.

Every company needs to adopt a continuous innovation cycle. Startup/Compete/Scaleup/then transition to new trends! Here's a visual representation of the process:

Stagnation is death! As business leaders its our duty to the companies we represent to keep a keen eye on the future for competitive threats and new ways to re-imagine our business!