Today's needs are what matters

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mindsetvaultz

2024-02-21 17:15:09

unnoticed but kodak completely disappeared from the scene due to a major mistake kodak in a nutshell used to be the biggest brand of cameras worldwide the mistake they made goes back several years specifically to december nineteen seventy five an employee at kodak steven sasson approached his bosses to present an incredible discovery the digital camera no more need for film everything is much simpler and faster unfortunately kodak rejected stephen's idea
at that time kodak made most of it's money from film sales therefore it was riskier for them to venture into this novelty as a result of that humiliation steven approached sony which was kodak's biggest competitor at the time sony accepted the idea and launched the digital camera flooding the market gradually kodak started to fade away until january nineteenth twenty twelve when kodak officially filed for bankruptcy
the important lesson here is that in business there are risks but you must consider what the risk is if you don't take action
don't hang on to what has worked in the past because today's needs are what matters