The benefit of hindsight.

Hindsight is 20/20 when identifying what non-survivors of digital disruption did wrong. People make decisions and try to hang on desperately to their established way of doing business, resistance to change, limits their ability to see potential disruptive threats. Blockbusters and Toys R Us are examples of companies that failed to respond to the changes in their external environments that ultimately contributed to their demise; the threats were identified but dismissed as ineffectual – competitors that would remain in niche markets.

Predicting these disruptors is near impossible; however, improving the business agility and increasing the innovative mindset of staff would have allowed a quicker pivot as the threat became evident. Kodak was able to do so and continues trading with an evolving business model that reflects the mission and vision of their immediate future.

Planning for a long term future is no longer viable, short term goals backed by invested people with available, accurate information, allows for quick, cyclical innovation.

Fenton, A., Fletcher, G., & Griffiths, M. (2019). Strategic Digital Transformation: A Results-Driven Approach. Routledge Ltd. Retrieved from https://www.dawsonera.com:443/abstract/9780429020469

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