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Kodak's Journey to Bankruptcy

A lack of innovation may have caused Kodak's bankruptcy.

When did Kodak's path to bankruptcy actually start? According to the online journal for the Wharton School of Business, Knowledge@Wharton, it was not just an inability to adapt to the era of digital photography.

The blog points to a coating technology developed by one of Kodak's then-employees, Isoflux founder David A. Glocker, as an example of how the company did not capitalize on the products created in its labs.

"The technology is one of countless innovations that Kodak developed over the years but failed to successfully commercialize," the blog notes. While companies often get sideswiped by a new innovation or anticipate it and then quickly change their processes, Kodak "saw the future and simple couldn't figure out what to do."

Encouraging research, curiosity and innovation in a company is a great way to move forward and expand current product offerings or systems of operation, as Steve Strauss writes for USA Today. To do so, organizations such as 3M have made it a policy that employees use 15 percent of their work time to work on pet projects that could become the next great invention.

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Topic Expert
Barrett Peterson
Title: Senior Manager, Actg Stnds & Analysis
Company: TTX
(Senior Manager, Actg Stnds & Analysis, TTX) |

Not a pretty picture (sorry, could not resist). The resistance to all signs contrary to current successfull ones is a human weakness carried into its corporations, governmrnts, charities, and other institutions.

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