Question

find an example of a company that failed to innovate, that failed (or is currently failing) to keep up with a changing market (like Blockbuster Video, Sears/Kmart, Yahoo, MySpace, RadioShack, etc.). What did they do wrong? Does the fault like with the vision of the CEO and other executives? Or did the management structure operate poorly and was unable to execute the vision of the executives?

Answer 1

An example of a company that failed to innovate is Nokia.

Nokia was the world leader in mobile phones. They sold more phones than any other company in the word, and was very popular among mobile phone users. It had a very high brand recall and brand value.

They failed to innovate when the mobile phone technology industry was innovating. Operating systems of mobile phones became increasingly more important. The advent of iOS and Android was an industry-changing factor that Nokia failed to recognize.

The fault is not in the vision of the CEO and other executives. Although they may have had a different vision of what the mobile phone industry was going to look like, the changing reality and evidence to the contrary should have been recognized earlier. The fault is not in having a different vision, but not innovating when the reality of the industry is shaping up differently from what was envisioned.

It cannot be said that the management structure operated poorly and was unable to execute the vision of the executives. The executives had a different vision altogether of the mobile phone industry.