Kodak

Definition

Kodak is a technology company historically known for its dominant position in photographic film, which failed to adapt swiftly to the digital photography revolution, leading to significant business decline. This case exemplifies the importance of innovation and adaptability in maintaining competitiveness in a free market.

Related terms

Market Adaptation: The process through which companies modify their strategies, products, or services to maintain competitiveness in changing markets.

Digital Disruption: A transformation caused by emerging digital technologies and business models that affects the value of existing goods and services.

Competitive Advantage: The attributes that allow an organization to outperform its competitors, such as cost structure, product offerings, brand reputation, and customer service