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Showing posts from October, 2011

The difference between innovation and inaction: A Tale of Two Companies

I have always been proud of my small hometown in upstate New York. I grew up on the shores of Lake Ontario and in the shadow of a moderately-sized, but fairly important city for business, Rochester. Making their home in the Rochester area are three large corporations: Xerox, Bausch & Lomb and Kodak. For decades, these three companies have not only stimulated Western New York's economy, but have been considered pioneers in their respective fields. Then, this week, there's rumblings that Kodak may have to declare bankruptcy. Yikes. The fact that this announcement comes the same week as Steve Jobs' death is eerily coincidental in my mind. Today, we're mourning the passing of one of America's truly great innovators, while one of America's truly great innovative companies seems on the verge of collapse. While Jobs was able to grow and evolve his company, and in the process create markets for MP3s, smartphones and tablet technology, Kodak stagnated. Based ...