Most of us have learned the strategic value of conducting regular SWOT analyses. Looking for our business’ Strengths, Weaknesses, Opportunities, and Threats is a standard leadership discipline.
While I am far more inclined to focus on strengths than threats, the demise of Kodachrome is a reminder of the importance of watching for blindside hits in your business. As 2010 came to a close, one of the photography’s staple products also ended.
A recent New York Times article notes:
“Demanding both to shoot and process, Kodachrome rewarded generations of skilled users with a richness of color and a unique treatment of light that many photographers described as incomparable even as they shifted to digital cameras. “Makes you think all the world’s a sunny day,” Paul Simon sang in his 1973 hit “Kodachrome,” which carried the plea “Mama, don’t take my Kodachrome away… Created in 1935, Kodachrome was an instant hit as the first film to effectively render color.”
Knowing the technical superiority of their product, Kodak has been criticized for being slow to adapt to trends in digital photography while not being able to sustain critical mass and keep their 75 year old product alive.
So as we enter a new year, what threats could unthrone your “kodachrome-like” product or service? How do you adapt to stay relevant in a rapidly change world?
