Recommended reading: Mistakes made on the road to Innovation
By vtatkar on Dec 12, 2006
I would recommend this article in a recent BusinessWeek (Nov 27, 2006 Edition)
Mistakes Made On The Road To Innovation
Its a wonderful read. It covers Kodak's attempt to transform itself from an old-line film and print in its DNA kind of company to a digital media powerhouse. It thought it could do so by relying on the one tradition it was extremely proud of, in its 120 year history: that technology innovation can reinvent the company and the marketplace. As it is now discovering, the tougher challenge lies in switching business models, which are far more complex and messy.
Its not clear that Kodak will be able to make the transformation; the jury is still out and it still teeters on the precipice.
The article ends with some sagely advice: All innovation is hard. Reinventing your entire business is the hardest innovation of all.