When Brand's Ego Becomes Bigger Than Them.

My recent interactions with people on LinkedIn brings me to believe that the work ethics of Big brand's are not only getting compromised but also creating toxic work environments and can lead to massive crashed of businesses impacting several lives. There is also a lack of knowledge in terms of governance, laws & regulations and general common sense overall.

Could this be created due to the new Social Media craze? Have people changed due to vaccines? Are we living in a stressed & anxious world? Is this part of some sort of transcendental vedic kalyug phase? While one can try to justify in any way, the real reason is us! The buck stops at everyone who is witnessing uncouth precarious behaviors and letting something pass which is unacceptable by all means.

I have been called many names including Jhansi ki raani, pitbull, crazy, accentric, evolved, old soul, to name a few. I have also never had dearth of people who truly admire the way I am & they love dearly for the person I am. I for once dont know how to be anyone way. I have also had the fortune of meeting some fantastic people in my life. Thanks to my profession of getting people Jobs globally focused on North America & India!

Today's influencers use chatGPT to write articles about random topic which is then liked by hundreds on serious platforms such as LinkedIn & Twitter (X ) Elon Musk should really consider changing the name back to twitter again. In my research I found some case studies which showcase the downfall of massive companies due to their Ego's flaring up followed by their downfall. I hope you enjoy reading them

Case Study: Kodak's Missed Opportunity

Background: Kodak was a giant in the photography industry, known for its film and cameras. The company's name was synonymous with capturing memories, and it held a dominant position in the market for decades.

The Ego: Kodak's ego was evident in its reluctance to embrace digital photography. Despite inventing the first digital camera in 1975, Kodak feared that digital photography would cannibalize its lucrative film business. The company chose to focus on its existing products rather than investing in the digital future.

The Downfall: As competitors like Sony and Canon advanced in digital photography, Kodak's market share dwindled. The company's late entry into the digital market could not compete with the established digital brands. In 2012, Kodak filed for bankruptcy, a stark contrast to its once-dominant position.

Lessons Learned: Kodak's story highlights the dangers of resisting change and innovation. Even when a company has pioneered a technology, failing to capitalize on it due to fear of disrupting the status quo can lead to missed opportunities and eventual decline.

These cases illustrate the importance of staying humble, adaptable, and forward-thinking in business. No brand is immune to the challenges of an evolving market, and those that rest on their laurels risk being left behind.

Case Study: The Downfall of Nokia

Background: Nokia was once the world's largest mobile phone manufacturer, dominating the market in the late 1990s and early 2000s. Their phones were known for their reliability and durability, and the brand had a massive global presence.

The Ego: Nokia's ego grew with its success. The company was slow to adapt to the smartphone revolution, believing that its dominance in feature phones would continue. They underestimated the impact of competitors like Apple and Android, which were innovating rapidly with touchscreens and app ecosystems.

The Downfall: As Apple and Android gained market share, Nokia struggled to catch up. Their attempts to innovate were too late, and their once-loyal customer base began to migrate to more modern smartphones. Nokia's refusal to embrace change and innovate quickly enough led to a significant decline in market share and eventually, the sale of its mobile phone business to Microsoft in 2014.

Lessons Learned: This case emphasizes the need for continuous innovation and adaptation. Even market leaders must stay ahead of industry trends and be willing to pivot when necessary. Complacency can lead to obsolescence, no matter how successful a brand has been.

Case Study: The Fall of Blockbuster

Background: Blockbuster was a giant in the video rental industry, with thousands of stores worldwide. At its peak, it was the go-to place for movie rentals, and its brand was synonymous with home entertainment.

The Ego: As Blockbuster grew, so did its ego. The company believed it was invincible and that its business model was unbeatable. They dismissed the rise of digital streaming services like Netflix as a passing fad and chose not to innovate or adapt.

The Downfall: Blockbuster's refusal to acknowledge the changing landscape of media consumption led to its downfall. While they focused on their traditional brick-and-mortar stores, Netflix and other streaming services were revolutionizing the industry. Blockbuster's ego prevented them from seeing the need for change, and they eventually filed for bankruptcy in 2010.

Lessons Learned: This case highlights the importance of humility and adaptability for brands. No matter how big or successful a brand is, it's crucial to stay grounded and open to innovation. Ignoring market trends and customer preferences can lead to a brand's downfall, no matter how established it is.

Thanks for Reading.

Sushmita Singh

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