Topic > The importance of strategy - 1556

However, this approach is too simple, basic and may seem impractical under certain conditions, unable to anticipate the future and predict upcoming business trends. Guidelines and rules do not give clear answers; they are simply simplifying a really complex environment. Therefore, strategies are only crafted by management due to the mechanistic structures of companies using this approach. What management thinks without being able to quickly react to sudden changes such as customer habits and behaviors, market demands, competition, technological advances and much more. The Kodak company is a perfect example to illustrate this topic. Kodak was the leading company in the photographic film sector in the 80s and 90s, managed and protected by the Japanese Fujifilm group. The old and traditional Japanese group at the head of Kodak caused its downfall by establishing a rational strategy, opposed to change and stubborn in maintaining the company's old strategies, values ​​and activities. However, competitors have developed more dynamic strategies capable of adapting their products and services to the digital revolution. A teacher and strategic management specialist stated: “A common explanation for Kodak's demise is that it missed the digital revolution” (Pangarkar, 2012, p.1). The rational strategy