By Constantinos Markides
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Extra resources for All the Right Moves: A Guide to Crafting Breakthrough Strategy
While there are many possible reasons for their failure, one was undoubtedly their inability to create a distinctive position for themselves. Instead, they tried to "colonize" Xerox's position. Given the first-mover advantages that Xerox enjoyed in its own strategic position, it is no surprise that IBM and Kodak failed. Page 10 Canon, on the other hand, chose to play the game differently. Having determined in the early 1960s to diversify from cameras into copiers, Canon decided to segment the market by end-user, targeting small and medium-sized businesses while also producing PC copiers for the individual.
Yet we are not without examples. S. variety store chains. In the next few years, Cunningham transformed Kresge from a variety retailer into the largest discount store in the United Stateswhat we now know as Kmart. The decision to go into discounting was a particularly difficult one, because, as Cunningham explained, "Discounting at the time had a terrible odor. .. If I had announced my intentions ahead of time, I never would have made president. . I had the authority, but if you haven't sold the people in your organization, you'll fall flat on your face.
But in the long run, established companies cannot afford not to attempt strategic innovation. If they don't, someone else surely will. The fact that several established competitors have been able to do it should give hope to others that may want to try. Consider, for example, the rejuvenation of Intel in 1984-85. Up to that time, Intel engaged primarily in the production of DRAMs (dynamic random access memory products). Intel introduced DRAMs in 1970, and these products replaced magnetic core memory as the standard technology for storing instructions and data on computers.