FYI: Walk into a music store in the 1970s, and you were almost certainly looking at a product made by General Recorded Tape.
GRT made 8-track tapes. It was very good at it. So it built a nice business from the mid-1960s to the late 1970s, when 8-tracks were popular. By the time GRT went public in 1968 it was partnering with 67 record labels. Its products sold in 90% of music stores.
But GRT went bankrupt in 1979, 14 years after its founding. Turns out it was very good at making 8-tracks, but not much else. As 8-tracks lost favor to cassette tapes, business plunged. The company prospered under one set of conditions, but couldn’t move in another.
Regards,
Ted
http://www.collaborativefund.com/blog/skills-vs-behavior/
