Most executives would strongly agree at the importance of focusing on core competency. But as the case of Eastman Kodak Company, IBM, Nokia and many others show that in today’s disruptive technological landscape it may not always be a good idea. All of the aforementioned companies stuck to their core competency for far too long and as a result, they had to suffer through major losses. Although core competencies play a vital role in any company’s success, it needs to be ready to go beyond that and evolve with the changing business landscape.

Source: HBR