Worst Big businesses disasters! (Nokia is in list too.)
There is only one guarantee that there is NO Guarantee!
So, yeah it is true that there is no guarantee, you could lose everything you have at any time and by knowing that you could lose everything makes you even stronger :) Andrew Carnegie who is the third richest person and the first billionaire in modern history said that "You could take my houses, Cars, Factories but I will build all of this again in just 3-4years" So, yeah and if you still don't understand then you should take a look at these biggest disasters in business world. Let's find out why some of these big business empires got failed and what's the reason behind it!
Starting with Nokia
#1 The Story of Nokia
They are so busy connecting people that they got DISCONNECTED! Jokes aside but the main reason is because of a Bad CEO and miss opportunity. They firstly made a HUGE mistake by making Steven Elop the CEO of the company. Elop has skill but not Will and that's the reason they started running towards profit and Nokia was valued at $50 Billion but Elop tried his best and sold it to Microsoft for just $7 Billion. Elop has a deep down plan to sell the company to Microsoft for just $7 Billion. Yep! there's a big difference between $50 Billion and $7Billion and after that they were late to adopt Android because they thought that windows for mobile are better but that is a bad decision for sure because android is better and innovative and Nokia just got too slow to adopt Android because Microsoft CEO Steve Ballmer thought that his operating system is very powerful and thought that Windows Phone will Rock but the opposite happens. There were only a few application in Windows operating system and android was hitting over 1million applications in play store. Well, so what happened then? Ah...Microsoft CEO got changed because the company and investors forced Ballmer to resign! and then Satya Nadella becomes CEO and he came out of nowhere, he is not so much popular but his leadership is outstanding and gorgeous! He sold Nokia to Hmd Global( a company formed by former Nokia employees) and Nokia is coming back? Well, Yes but it will be super difficult for him to capture the market again! but MICROSOFT got so much success under the leadership of Satya nadella that they hit a Trillion-Dollar mark leaving Apple, Google and Amazon besides. Well, thanks to Satya Nadella and now Microsoft is back in form again! Stay innovative and inventive and focus on creating value instead of profit!
#2 Blockbuster and Netflix
Blockbuster got FLOPED! Blockbuster was one of the biggest videos Cd's rental company but they got out of cash and I think that you must know why this massive business empire got failed! The biggest reason for its failure is MISS OPPORTUNITY. Blockbuster got bankrupt because of Netflix because people began seeing shows online and no one is buying cd's from stores but did you know that Blockbuster once had a chance to buy Netflix for just $50 Million which is nothing compared to their present time net-worth but they didn't buy Netflix and even laughed at their Face!
But now Netflix is a market leader in online video platform and Blockbuster is nothing now! Well, now Blockbuster CEO has so much time to laugh :) This is one of the amazing stories I've ever heard. I think that Blockbuster could prevent failure if they become inventive and seeing things from a different perspective because they were one of the biggest companies.
#3 Yahoo and Google Story
I highly recommend you to watch this video :)
Well, I will not tell the story between Yahoo and Google because if you have seen the video then you" ll know about it. But I will surely tell why they got failed
, The reason why Yahoo got failed is that they don't focus on creating Value. Creating value in other's people life should be a motive to every business in this world. Worry about Profit? Value creation will bring profit, trust, and loyalty in your customers also. Yahoo doesn't put search engine because they thought that it would affect their ads which could decrease profit. They don't focus on bringing better search but instead, they focus on profitability. Google creates the value they provide easy information to everything in just a simple step and still google is one of the most profitable companies in this world and owns a lot of things like Gmail, YouTube, Android, Google Maps, Blogger, and many more. So, instead of just focusing on the profit you should focus on creating Value! Always try to give as much as possible and ask for money when you thought that you have given enough and you should do something for others valuable before asking for something. Nikola Tesla said that he wants to make a man's life easier not to earn a lot of money.
#4 Xerox huge failure
Steve jobs said that Xerox could have own the whole PC Market because they invented Graphical User Interface(GUI) and computer mouse. Without GUI everyone can't use a computer so easily and Steve jobs understand the potential of GUI but Xerox didn't understand of what they've created and that's the biggest mistake they make. Jobs see future in their products but Microsoft started using GUI before apple in their computers and Jobs was literally very upset. Xerox was a billion-dollar company and photocopying is also known as Xerox still today. Xerox didn't see the potential in their own products and missed that huge opportunity of owning the whole PC Market just as like Microsoft. Know your potential and find as many opportunities as you can!
#5 Kodak journey to....bankruptcy!
Well, Kodak is a bit more interesting than any other story. Kodak the company known for its cameras and film reels but at a huge peak of success why they lose it all in just a short period of time? Kodak filed bankruptcy in 2012 and the company go bankrupt because of this changing world. The world is always changing and nothing stays the same on this planet.
Kodak used to make film cameras but soon people began buying digital cameras instead of film cameras but the fun part is that kodak made the world's first Digital camera and it's like Xerox story they don't the potential of their products and missed the opportunity. Kodak was a well-known company but nobody knows about Kodak now.
See, there are many factors for the failure of these companies but one of the biggest reason I found common between all of these companies is Miss opportunity. My advice to you is to always see things from a different perspective and make the most out of every opportunity because opportunity comes only once in everyone's life. Focus on creating value instead of profit! Have a Go-Giver mentality.
So, yeah it is true that there is no guarantee, you could lose everything you have at any time and by knowing that you could lose everything makes you even stronger :) Andrew Carnegie who is the third richest person and the first billionaire in modern history said that "You could take my houses, Cars, Factories but I will build all of this again in just 3-4years" So, yeah and if you still don't understand then you should take a look at these biggest disasters in business world. Let's find out why some of these big business empires got failed and what's the reason behind it!
Starting with Nokia
#1 The Story of Nokia
#2 Blockbuster and Netflix
Blockbuster got FLOPED! Blockbuster was one of the biggest videos Cd's rental company but they got out of cash and I think that you must know why this massive business empire got failed! The biggest reason for its failure is MISS OPPORTUNITY. Blockbuster got bankrupt because of Netflix because people began seeing shows online and no one is buying cd's from stores but did you know that Blockbuster once had a chance to buy Netflix for just $50 Million which is nothing compared to their present time net-worth but they didn't buy Netflix and even laughed at their Face!
But now Netflix is a market leader in online video platform and Blockbuster is nothing now! Well, now Blockbuster CEO has so much time to laugh :) This is one of the amazing stories I've ever heard. I think that Blockbuster could prevent failure if they become inventive and seeing things from a different perspective because they were one of the biggest companies.
#3 Yahoo and Google Story
I highly recommend you to watch this video :)
Well, I will not tell the story between Yahoo and Google because if you have seen the video then you" ll know about it. But I will surely tell why they got failed
, The reason why Yahoo got failed is that they don't focus on creating Value. Creating value in other's people life should be a motive to every business in this world. Worry about Profit? Value creation will bring profit, trust, and loyalty in your customers also. Yahoo doesn't put search engine because they thought that it would affect their ads which could decrease profit. They don't focus on bringing better search but instead, they focus on profitability. Google creates the value they provide easy information to everything in just a simple step and still google is one of the most profitable companies in this world and owns a lot of things like Gmail, YouTube, Android, Google Maps, Blogger, and many more. So, instead of just focusing on the profit you should focus on creating Value! Always try to give as much as possible and ask for money when you thought that you have given enough and you should do something for others valuable before asking for something. Nikola Tesla said that he wants to make a man's life easier not to earn a lot of money.
#4 Xerox huge failure
#5 Kodak journey to....bankruptcy!
Well, Kodak is a bit more interesting than any other story. Kodak the company known for its cameras and film reels but at a huge peak of success why they lose it all in just a short period of time? Kodak filed bankruptcy in 2012 and the company go bankrupt because of this changing world. The world is always changing and nothing stays the same on this planet.
Kodak used to make film cameras but soon people began buying digital cameras instead of film cameras but the fun part is that kodak made the world's first Digital camera and it's like Xerox story they don't the potential of their products and missed the opportunity. Kodak was a well-known company but nobody knows about Kodak now.
See, there are many factors for the failure of these companies but one of the biggest reason I found common between all of these companies is Miss opportunity. My advice to you is to always see things from a different perspective and make the most out of every opportunity because opportunity comes only once in everyone's life. Focus on creating value instead of profit! Have a Go-Giver mentality.
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