Kodak was established 135 years back in 1888. It enjoyed a market share of 80% in photography in 1970. However, it failed to scan the changing environment of digital photography and ultimately filed for bankruptcy in 2012. In fact the first digital camera was invented by a Kodak employee Stevan Sasson.
Nokia, founded in 1865 was the largest cellphone maker in 1988 but its CEO Stephen Elop ended his speech saying, “we didn’t do anything wrong, but somehow, we lost.” Upon this conclusion, he and the entire management team publicly wept on the sunset of Nokia.
Pakistan, a nuclear state, is facing its Kodak moment. Historically it thrived on participation in conflicts and developed a War Economy. It has not planned for a Peace Economy, ie, how will we get dollars when there is peace? Not surprising that the nuclear weapon country is threatened by a looming default today.
On the other hand, Dubai, a mini sheikhdom on sands is thriving. 4000 global millionaires have thronged to Dubai recently. KSA has reinvented itself and has shunned exporting Wahhabism. Qatar population is equal to a middle size district of Punjab like Sahiwal or Okara but is hosting FIFA World Cup this year.
Pakistan needs to reinvent and reorient itself. It needs a paradigm shift from drawing mileage out of a conflict to one where we reap benefits from peace. It has to devise ways and means to gain dollars without participating in a conflict.
Lewis Bentley once said, The light bulb did not come from the continuous improvement of candles. A strategic paradigm shift is warranted to escape our Kodak moment. .. source: courtesy internet