We are living in an age of unprecedented industry change, as industries as diverse as retail, media and manufacturing are undergoing rapid, and often unpredictable, transformation. This accelerating rate of industry disruption is driving companies to adapt far more quickly to the changing business environment in order to survive. The “Kodak moment” has evolved from a marketing phrase used to describe taking a picture at a never-to-be- forgotten moment, to describing the failure of a company to adopt to changing industry conditions. Eastman Kodak, which once accounted for 85% of lm sales and 90% of camera sales in the USA, led for bankruptcy in 2013, a development largely attributable to its failure to adapt to the rapid changes in the photography industry, especially the advent of digital photography.
