“Innovate or Die…”
You might guess I am pretty old school!
This quote from Peter Drucker, the management guru of all management gurus, says it all.
Kodak invented the digital camera. It didn’t commercialize this invention because it wanted to protect its film business. The Company had what I call the “FDH” syndrome. It was Fat, Dumb, and Happy with its success in film. It looked backward instead of forward.
As Bill Gates is fond of saying, “Success is a lousy teacher. It seduces smart people into thinking they can’t lose.”
To be innovative, you cannot be afraid to obsolete your own products. If you are, others will obsolete them for you. That is what happened to Kodak and many others.