Top 6 Business Mistakes – Worst Company Disasters


Share post:

We’ve often read the success stories of some of the largest and most influential companies. But what about the other side? What about the blunders? business mistakes missed opportunities and utter disasters that in turn, brought some companies to ruin. Well today, you’re in luck, because here are six of such stories. Let’s get straight into it.

6 – Kodak


Kodak had the first digital camera back in 977. Whenever technology changes the landscape of an industry, there are some businesses that adapt and thrive, And others that continue to do the same old thing, until it’s too late.

For Kodak, who fell behind, due to the advent of the digital camera, the situation was a little different. Kodak actually patented the first digital camera back in 977. It was one that used magnetic cassette to store images of about 100 kilobytes.

However, Over the coming years, Kodak made so much money off of film, That they let the new technology gather dust, not realizing its potential. The company continued to focus on traditional film cameras Even it was clear that the market was moving towards digital.

When Kodak finally went to the digital market, They were selling cameras at a loss and still couldn’t make up enough sales to catch up to those competitors, which have seen the potential of digital cameras early on.

Currently, Kodak is losing over two hundred million dollars a year. The lesson learned: In the world of business, always keep an eye on the market, and be responsive to future trends. if not, it cost you everything.

5 – Excite


Excite could have bought Google for less than one million dollars. The year is 999, and Excite was the number two search engine, behind Yahoo. Google back then was a nobody. The new kid on the block.

It was in this setting, back in ’99, That Larry Page, offered to sell Google to Excite for $750,000 according to Excite’s CEO at the time, George Bell, The $750,000 deal was % of Excite’s worth, So financing wasn’t an issue.

The hiccup came when Larry insisted That if the sale went ahead, Excite was to replace all of its search technology with Google’s. George of Excite thought that this was too much, and refused the offer.

Excite was eventually bought by Ask Jeeves (now in 2004. At the time, Ask had less than 2% search market share. Google, currently now known as Alphabet processes a billion search results every day. They currently have around  47 billion in assets, which is more than 96,000 times what Excite would have paid for them. Ouch.

4 – Blockbuster


Blockbuster Video turns down the opportunity to buy Netflix. The mid-80s to late 90s, where when VHS was king. The problem back then, was that VHS tapes would cost upwards of $97 per movie. For this reason, video rental stores, like Blockbuster came in to fill in that gap.

They were the perfect solution and became a regular part of weekend plans for hundreds of millions around the globe.

Eventually, online video streaming services, like Netflix, Hulu, and even Putlocker destroyed the old video rental, business model. Ironically, In the year 2000, Netflix proposed that it would handle Blockbuster’s online component and Blockbuster could host Netflix as an in-store component, thus eliminating the need to mail DVD’s, which was Netflix’s business model at the time.

According to an interview with former Netflix CEO, Barry McCarthy Blockbuster just laughed Netflix out of their office. But, that’s not the end of their story.

By 2007, Blockbuster was well on the right track. They had an internet movie component, that was steamrolling over Netflix. Netflix was struggling, and its upper management wanted to sell the company to blockbuster to save face. Blockbuster’s growth was very strong at the time, so they turned down the offer.

In a strange twist later that year, there was a boardroom dispute over Blockbuster, that saw a change of CEO. The new CEO was James Keyes (formerly of Seven-Eleven) He came in with the wrong mindset and thought that Blockbuster should be a retail business instead of an entertainment one. Because of this, He didn’t see the value of an online component.

Huge mistake. Within eighteen months, The new CEO had lost Blockbuster 85% of the company’s value. And within three years, Blockbuster was filing for bankruptcy.

Blockbuster went belly-up, and Netflix went on to thrive. Since then, Netflix is behind such original shows such as House of Cards, BoJack Horseman, and Daredevil. With 139 million subscriptions worldwide, Netflix has altered the way many view the entertainment.

3 – NASA


A grade school math error cost NASA  25 million. Before the advent of Google, did you ever get frustrated with the conversions from feet to meters? Inches to centimeters? Did you find it difficult? Well, you’re in good company.

As it turns out, a similar math problem hindered some of the greatest minds in the western world. In 999, A Mars orbiter, that Lockheed-Martin designed for NASA was lost in space due to a simple math error, in where the engineers at Lockheed used Imperial measurements while the NASA employees used metric ones.

The mismatch led to the thrusters not receiving vital navigation information, which caused the 25 million dollar spacecraft to malfunction. The probe was forever lost while trying to get into orbit around Mars after a 286-day journey. There were numerous occasions where the errors should have been caught, but, it wasn’t.

2 – Nokia


Nokia outright refusing to use Android. Nokia. One of the most iconic brands of the 20th century and even up to the first decade of the 21st century. The company had about 51% market share on the mobile phone industry at their peak in 2007. But now, they’re a shell of their former selves. A fond, but a distant memory for many.

The start of the company’s fall from grace can be attributed to one moment in 2010 when Nokia CEO Anssi Vanjoki snubbed his nose up at the idea of using Google’s Android software. You see, at the time, Nokia had its own operating system called Symbian.

After the release of the iPhone in 2007, the software development team at Nokia realized that there was a threat. So they split into two. One team tried to revamp Symbian, and the other team created an entirely new operating system named MeeGo. The problem was, that the two teams were battling for resources from Nokia’s top executives. So in essence, there was an internal struggle within the company.

It was so bad, that whenever Nokia was dealing with outside stakeholders, like chip manufacturers, for example, there was so much squabbling within the company, that it took the better part of the year to make a decision on anything. in the tech world, that’s way too long.

Competitor innovation waits for no one. The logical solution, in hindsight, of course, was Android. Nokia could have used the open software platform, combine it with their in-house hardware, to quickly make up for lost time, at a minimal cost.

Instead, Nokia CEO at the time decided to skip on Android, calling it a short term solution likening the move to, Quote:

“Pissing in your pants in winter to keep warm.” 

Nokia kept on working on their own software efforts, throwing $5 billion a year of R&D; at the problem, but no avail. As time went on, The iPhone and Android handsets dominated the market until Nokia’s mobile division was left in the dust.

Not long after this, the Nokia division brand was salvaged by Microsoft for scraps. Microsoft couldn’t make the once legendary company stay afloat either, Wasting $8 billion before killing the Nokia mobile brand. Moral of the story, Move with innovation and don’t let your pride cloud your judgment.

1 – Xerox

Source: Reuters

Xerox, yes the printer company hand one of the greatest inventions in computing history to Apple. Imagine having one of the greatest inventions of the 20th century in your hands and giving it away because you didn’t understand what you are holding.

Xerox did just that with the Xerox Alto. The Xerox Alto was an experimental computer from 973, created at Xerox’s Research Center. The Alto was way ahead of its time. It was the first modern desktop PC, as we recognize them today. It had a mouse, windows, file managers, and it can copy and paste, delete and move files, It had icons, menus, graphics, and even a Local Area Network, that connected all the computers together.

The idea was to mimic an office desk but on a screen. A paperless office of the future. Absolutely revolutionary for 1973. What the Xerox Alto was demonstrating was the first Graphical User Interface, or GUI, in a desktop computer.

The Xerox upper management did not understand what they had, the managers just couldn’t see, the vision of what the computer of the future will be. But, a man named Steve Jobs did know what the future of the computer could be. And Xerox handed it straight to him.

The deal saw Xerox gain a million shares of Apple’s stock In exchange for Steve Jobs was getting the inside information for everything cool and revolutionary that was going on at the PARC Center. Nobody actually checked with the guys at the research center, but the Apple Business Development Team signed off the deal anyway.

The ideas from the Alto would heavily influence the Apple LISA, whose technology trickles down to the Macintosh, which influenced Microsoft Windows. Both of which, were the eventual ancestors to the manner in which our phones operate today. The sad thing is Xerox never gets a mention for any of this.

xosotin chelseathông tin chuyển nhượngcâu lạc bộ bóng đá arsenalbóng đá atalantabundesligacầu thủ haalandUEFAevertonxosofutebol ao vivofutemaxmulticanaisonbetbóng đá world cupbóng đá inter milantin juventusbenzemala ligaclb leicester cityMUman citymessi lionelsalahnapolineymarpsgronaldoserie atottenhamvalenciaAS ROMALeverkusenac milanmbappenapolinewcastleaston villaliverpoolfa cupreal madridpremier leagueAjaxbao bong da247EPLbarcelonabournemouthaff cupasean footballbên lề sân cỏbáo bóng đá mớibóng đá cúp thế giớitin bóng đá ViệtUEFAbáo bóng đá việt namHuyền thoại bóng đágiải ngoại hạng anhSeagametap chi bong da the gioitin bong da lutrận đấu hôm nayviệt nam bóng đátin nong bong daBóng đá nữthể thao 7m24h bóng đábóng đá hôm naythe thao ngoai hang anhtin nhanh bóng đáphòng thay đồ bóng đábóng đá phủikèo nhà cái onbetbóng đá lu 2thông tin phòng thay đồthe thao vuaapp đánh lô đềdudoanxosoxổ số giải đặc biệthôm nay xổ sốkèo đẹp hôm nayketquaxosokq xskqxsmnsoi cầu ba miềnsoi cau thong kesxkt hôm naythế giới xổ sốxổ số 24hxo.soxoso3mienxo so ba mienxoso dac bietxosodientoanxổ số dự đoánvé số chiều xổxoso ket quaxosokienthietxoso kq hôm nayxoso ktxổ số megaxổ số mới nhất hôm nayxoso truc tiepxoso ViệtSX3MIENxs dự đoánxs mien bac hom nayxs miên namxsmientrungxsmn thu 7con số may mắn hôm nayKQXS 3 miền Bắc Trung Nam Nhanhdự đoán xổ số 3 miềndò vé sốdu doan xo so hom nayket qua xo xoket qua xo so.vntrúng thưởng xo sokq xoso trực tiếpket qua xskqxs 247số miền nams0x0 mienbacxosobamien hôm naysố đẹp hôm naysố đẹp trực tuyếnnuôi số đẹpxo so hom quaxoso ketquaxstruc tiep hom nayxổ số kiến thiết trực tiếpxổ số kq hôm nayso xo kq trực tuyenkết quả xổ số miền bắc trực tiếpxo so miền namxổ số miền nam trực tiếptrực tiếp xổ số hôm nayket wa xsKQ XOSOxoso onlinexo so truc tiep hom nayxsttso mien bac trong ngàyKQXS3Msố so mien bacdu doan xo so onlinedu doan cau loxổ số kenokqxs vnKQXOSOKQXS hôm naytrực tiếp kết quả xổ số ba miềncap lo dep nhat hom naysoi cầu chuẩn hôm nayso ket qua xo soXem kết quả xổ số nhanh nhấtSX3MIENXSMB chủ nhậtKQXSMNkết quả mở giải trực tuyếnGiờ vàng chốt số OnlineĐánh Đề Con Gìdò số miền namdò vé số hôm nayso mo so debach thủ lô đẹp nhất hôm naycầu đề hôm naykết quả xổ số kiến thiết toàn quốccau dep 88xsmb rong bach kimket qua xs 2023dự đoán xổ số hàng ngàyBạch thủ đề miền BắcSoi Cầu MB thần tàisoi cau vip 247soi cầu tốtsoi cầu miễn phísoi cau mb vipxsmb hom nayxs vietlottxsmn hôm naycầu lô đẹpthống kê lô kép xổ số miền Bắcquay thử xsmnxổ số thần tàiQuay thử XSMTxổ số chiều nayxo so mien nam hom nayweb đánh lô đề trực tuyến uy tínKQXS hôm nayxsmb ngày hôm nayXSMT chủ nhậtxổ số Power 6/55KQXS A trúng roycao thủ chốt sốbảng xổ số đặc biệtsoi cầu 247 vipsoi cầu wap 666Soi cầu miễn phí 888 VIPSoi Cau Chuan MBđộc thủ desố miền bắcthần tài cho sốKết quả xổ số thần tàiXem trực tiếp xổ sốXIN SỐ THẦN TÀI THỔ ĐỊACầu lô số đẹplô đẹp vip 24hsoi cầu miễn phí 888xổ số kiến thiết chiều nayXSMN thứ 7 hàng tuầnKết quả Xổ số Hồ Chí Minhnhà cái xổ số Việt NamXổ Số Đại PhátXổ số mới nhất Hôm Nayso xo mb hom nayxxmb88quay thu mbXo so Minh ChinhXS Minh Ngọc trực tiếp hôm nayXSMN 88XSTDxs than taixổ số UY TIN NHẤTxs vietlott 88SOI CẦU SIÊU CHUẨNSoiCauVietlô đẹp hôm nay vipket qua so xo hom naykqxsmb 30 ngàydự đoán xổ số 3 miềnSoi cầu 3 càng chuẩn xácbạch thủ lônuoi lo chuanbắt lô chuẩn theo ngàykq xo-solô 3 càngnuôi lô đề siêu vipcầu Lô Xiên XSMBđề về bao nhiêuSoi cầu x3xổ số kiến thiết ngày hôm nayquay thử xsmttruc tiep kết quả sxmntrực tiếp miền bắckết quả xổ số chấm vnbảng xs đặc biệt năm 2023soi cau xsmbxổ số hà nội hôm naysxmtxsmt hôm nayxs truc tiep mbketqua xo so onlinekqxs onlinexo số hôm nayXS3MTin xs hôm nayxsmn thu2XSMN hom nayxổ số miền bắc trực tiếp hôm naySO XOxsmbsxmn hôm nay188betlink188 xo sosoi cầu vip 88lô tô việtsoi lô việtXS247xs ba miềnchốt lô đẹp nhất hôm naychốt số xsmbCHƠI LÔ TÔsoi cau mn hom naychốt lô chuẩndu doan sxmtdự đoán xổ số onlinerồng bạch kim chốt 3 càng miễn phí hôm naythống kê lô gan miền bắcdàn đề lôCầu Kèo Đặc Biệtchốt cầu may mắnkết quả xổ số miền bắc hômSoi cầu vàng 777thẻ bài onlinedu doan mn 888soi cầu miền nam vipsoi cầu mt vipdàn de hôm nay7 cao thủ chốt sốsoi cau mien phi 7777 cao thủ chốt số nức tiếng3 càng miền bắcrồng bạch kim 777dàn de bất bạion newsddxsmn188betw88w88789bettf88sin88suvipsunwintf88five8812betsv88vn88Top 10 nhà cái uy tínsky88iwinlucky88nhacaisin88oxbetm88vn88w88789betiwinf8betrio66rio66lucky88oxbetvn88188bet789betMay-88five88one88sin88bk88xbetoxbetMU88188BETSV88RIO66ONBET88188betM88M88SV88Jun-68Jun-88one88iwinv9betw388OXBETw388w388onbetonbetonbetonbet88onbet88onbet88onbet88onbetonbetonbetonbetqh88mu88Nhà cái uy tínpog79vp777vp777vipbetvipbetuk88uk88typhu88typhu88tk88tk88sm66sm66me88me888live8live8livesm66me88win798livesm66me88win79pog79pog79vp777vp777uk88uk88tk88tk88luck8luck8kingbet86kingbet86k188k188hr99hr99123b8xbetvnvipbetsv66zbettaisunwin-vntyphu88vn138vwinvwinvi68ee881xbetrio66zbetvn138i9betvipfi88clubcf68onbet88ee88typhu88onbetonbetkhuyenmai12bet-moblie12betmoblietaimienphi247vi68clupcf68clupvipbeti9betqh88onb123onbefsoi cầunổ hũbắn cáđá gàđá gàgame bàicasinosoi cầuxóc đĩagame bàigiải mã giấc mơbầu cuaslot gamecasinonổ hủdàn đềBắn cácasinodàn đềnổ hũtài xỉuslot gamecasinobắn cáđá gàgame bàithể thaogame bàisoi cầukqsssoi cầucờ tướngbắn cágame bàixóc đĩaAG百家乐AG百家乐AG真人AG真人爱游戏华体会华体会im体育kok体育开云体育开云体育开云体育乐鱼体育乐鱼体育欧宝体育ob体育亚博体育亚博体育亚博体育亚博体育亚博体育亚博体育开云体育开云体育棋牌棋牌沙巴体育买球平台新葡京娱乐开云体育mu88qh88

Related articles

The Importance of Eat and Run Verification Companies

As the digital landscape expands, online scams are becoming more prevalent, targeting unsuspecting users. Millions fall victim to...

Embracing a Sustainable Future: The Critical Intersection of Environment and Sustainability

In an era where the health of our planet is under increasing threat, the intersection of environment and...

Unveiling the Power of 5G Technology: Transforming Connectivity and Beyond

As the world races into the future, the advent of 5G technology stands at the forefront, promising a...

How to Make Sumptuous All-Natural Hot Cocoa

There's nothing quite like a cup of hot cocoa to warm your soul on a chilly day. While...