We all ask the same question about Kodak, monarch of the global photo industry for a century, now bankrupt, while Instagram, a photo-sharing service with a dozen employees, is sold to Facebook  for $1bn.

We're not living in ordinary economic times. The convulsions of the past five years have left many business people asking the most fundamental questions about their companies: Will our strategy work in this environment? What must we change, and what must we not change? Do we need a new business model?

Three questions to ask are: What is our core? How is today's unprecedented environment changing our customers and their behavior? And, is our industry being deeply restructured, and if so, how will it affect us?

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Keywords: supply chain, supply chain management, value chain, relevant business models