Poloroid Blindsided!In October 2001 Polaroid filed for bankruptcy. The company that came to define instant photography was blindsided by the rapid rise of digital photography. We need to separate form from function. In other words, banking is essential but banks are not. The function of banking is essential, the current form is not. But individuals and organizations get attached to the current form. Polaroid defined instant photography in one form - and when a better form came along they did not embrace it as quickly as the market. So new competitors blindsided Polaroid.
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