Innovation is the key to a good company. In todays world, it’s all about what company creates the next big thing first. You see these innovations working within business’ like Apple, Samsung and Nikon. These are quick to bring consumers something even more impressive than the last.
But what happens if a company isn't quick enough? For example the company Kodak was a big deal in film development and were recognized for bringing consumers a “Kodak moment.” In the prime of the company, 1990, Kodak made $19 billion in annual sales with 145,000 employees. Now Kodak has $2 billion in annual sales with only 8,000 employees.
In 1975 Kodak was actually the first company to create a digital camera but instead of profiting from this innovation they decided to not use this huge opportunity to help the company grow because they were still on top. They also developed and patented other technology which is used in most cameras today. Kodak helped create the technology that would soon set their own company back by helping other companies push forward.
Instead of being the first company to have a digital camera, they put theirs on the market in 1995, after most other companies put their digital cameras out there as well. Think of where Kodak would be now if they sought out to be innovators 20 years earlier.
By: Jordan Liddle
http://mashable.com/2012/01/20/kodak-digital-missteps/#4JM6YwXslZkd
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