How many people can say that we really knew Kodak invented the first digital camera? When asked about the top camera brands, one might first say Nikon or Canon, not Kodak. The world is changing every single minute and if a company is not able to have the elasticity to keep up, they will lose credibility, business, or both. I think many (most likely failing) companies do not want to change their ways because they are comfortable in the place they are in. Although they can remain successful for the time being with outdated practices without generating new ideas, that will not last. Kodak’s loss of brand awareness goes to show how important it is to constantly be generating new ideas and acting upon the societal changes.
With ideation, it is also necessary to work well with others to spark those new ideas and thought processes. Think about the amount of times working in a group created directions that you alone would not have been able to generate. Experiences with others give us the chance to practice good listening skills, creative skill building, and important lesson learning. Even if new ideas fail, those attempts eventually will lead to a success.
Just like Kodak’s possible fear of failure, they did not try to keep up with the societal changes by developing new products. If they would have stepped outside of their comfort zone even just a little bit, they could be more well-known today and more successful than Nikon or Canon.
BoweryJE22
I remember Dr. Powell discussing Kodak failing in this regard in class. Ideation is a huge part of creating your brand as well. It is important in sales to stress what is new and better about your product, but also important that you stress how the new and better things will benefit your prospective client.
I wonder what other companies that were their leaders that are now no more due to the inability to transition and pivot or sell.
This is such a great reminder to always be pursuing the cutting edge of things, especially when in a business setting. Customers will always choose the brand with the best reputation, benefits, and features. Great post.