A famous epigram commonly taught in business schools is that the ‘railroad industry got into trouble because it thought it was in the railroad industry.’ What it failed to recognize was that it was actually in the transportation industry, and this failure cost it the early advantage over automobiles and airplanes.1 Kodak provides another instructive example of this principle. In its final years, the giant corporation continued to behave as if it were in the film industry, but Kodak was in the image industry, and because it failed to compete with new digital imaging companies, Kodak was forced to file for chapter 11 protection.
Eavey RD. The Evolving Identity of OtolaryngologyFrom Otolaryngology to Communication to Human Behavior. JAMA Otolaryngol Head Neck Surg. 2014;140(7):593-594. doi:10.1001/jamaoto.2014.847