This article demonstrates the value of adding a learning and adaptation component into the decision-making process.
By reviewing the case of Kodak’s decision not to focus its investments in digital technology in the 1980s the article introduces The Learning and Adaptation Decision Process, a model enables a firm to reassess analysis about future market disruptions and opportunities
Organizations need decision processes that are designed to be reviewed and rethought so they continue to provide fresh insight into how to prepare for disruptions and opportunities. This example shows how Kodak could have used its considerable resources to expedite its own digital camera technology, purchased companies with leading edge digital technology, put a digital technology-minded management team in place and lead the industry into the realm of mass market digital photography.”
A learning and adaptation approach might have helped Kodak take advantage of an opportunity to survive the disruption of its market and to avoid the eventual bankruptcy of the firm.”
The model introduced in this article can help leaders in a wide variety of industries review critical decisions, identify problematic outcomes, anticipate disruptions and prepare sooner for opportunities.
