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Smith Corona, a global typewriter company, was founded in the 1886. In 1991, CEO Lee Thompson made a statement that Smith Corona would never abandon it core product: The Typewriter. Four years later Smith Corona was bankrupt.

 

What went wrong? Smith Corona viewed itself as a typewriter company, not a company that offered solutions and products to businesses. By the time Smith Corona tried to get into the word processing market, it was too late. Technology had passed them by.

 

So, the question for all of us is; “What business are we in?” We will see big changes in our industry in the next few years. It’s how we adapt to change, embrace technology and truly define who we are that will make the difference in our survival.

 

Your thoughts?

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Edited by FROGFINDER

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