The Biggest Business Mistakes in History

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Everyone make mistake and then learn from it. Some make blunders and some take worst decision which cost them too much. Everyone is prone to mistakes. However if mistakes are made by companies then that bring huge impact to its stakeholders and surrounded people. Here are top most baddest mistake made by leading companies..

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5. Kodak digital camera in 1977

kodak-fuji

Kodak was once king in filmed rolls and cameras. In 1977 they patent the first digital camera which could save 100kb file however they didn’t introduce the technology to public at that time because huge investment were already made on their film roll cameras. Later on when they realized the market of digital cameras it was too late and every attempt to get back to their golden era’s position is wasted.

4. Nokia – Once powerhouse of mobiles

Nokia-640x353

Nokia suddenly become mobile manufacturer giant in late 90’s when they introduces cellular like 6210, 3310, 3210 and later on 1100 and 1110 (23 million units-most selling mobile set till date). 6600 was the first camera phone from nokia. With all great models, build quality and easy to use OS the company didn’t makeup upto the mark and then sold out in 2014. The biggest mistake they made was to stickup with old, outdated and very simple UI instead of upgrading to android. Even they switched to windows OS very late that user moved to other manufacturers.

3. Netflix VS Blockbuster

 

netflix

Blockbuster was once pioneer in rental of DVDs through mail. In 2000, Netflix offer Blockbuster to handle some of their business component of movies. The management of that time didn’t take it seriously and decline the proposal coldly. Netflix then strive to bring innovation in movie rental and after some time they succeeded in obsoleting the movie system by mail and so Blockbuster as well. Due to a blunder of Blockbuster, Netflix is now best known for online rental movies.

2. Grandpa of social site – My Space

my space

My Space was the first in league of social site and exists along with facebook. However it was sold out to News Corp but they failed to raise the bar of the platform. In 2008 My Space had worth of $12 billion which then drops down dramatically and ultimately it was sold out by News Corp in $ 35 million….   That’s a deeper pain..

1. Once google was selling for $750,000

 

Google

In 1999 when google was new in search engine business the Larry Page was offered to sell google to Excite company, the no. 2 search engine at that time, for just $750,000. Excite later on decline the deal and now its existence is hardly known to any user now a day. Google now has more than $198 billion asset so imagine !!

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