Metamorphosis Series (2.5 of 3)
Change or Bust #2.5: The Cautionary Tale of Polaroid
Postscript: Polaroid’s Vision Changed Too Slowly
Polaroid was once a juggernaut in the world of imaging and photography. They were a pioneer in the instant photography market, and for many years, they dominated the market.
However, times change, and Polaroid didn’t change with them. They got stuck in their ways and refused to change their previously lucrative income model. As a result of digital photography, demand for their film products plummeted and they went into bankruptcy.
This is a cautionary tale for all companies: change or bust. Companies and their people must constantly evolve to stay relevant and thrive in today’s rapidly changing world. Those who don’t change or don’t change in synch with the times, will be left behind.
“Someone is going to make your product obsolete. Make sure it’s you.” — Edwin Land
Post-postscript
Polaroid has evolved and their products are available and popular: Polaroid Now.
🚭 This is a work of non-fiction © 2022 K. Joseph, All rights reserved.
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🧚🏾 This article series was created after I heard about the fate of the Polaroid Company in the podcast, Hidden Brain featuring psychologist Wendy Smithand a conversation with Luis Giraldo about changing hearts and minds.
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