Some stories I lived through.

Back in 1978, one division of RCA decided to get in the security camera business at which was virtually owned by the Japanese. They were told by the board that there was no way that they could compete with the Japanese. The VP persisted and managed to get two years of funding from the board. Two years later, RCA had 30% of the US security camera business. They did it by finding the right combination of features and pricing.

In the early 80's RCA got in the ASIC foundary business, currently dominated by a few players. During the mid 80's recession the ASIC division was the only player in the industry growing. In two years they went from a new design a month to a new design a day. How did they do this? A 98% first time silicon success rate coupled with a strategy of "If our simulator says it works, then we guarantee it will work". No customer was forced to change design methodologies to conform to proprietary ones like the others. RCA was interestingly manufacturing most of Apple's chips before their doors were closed.

At the same time HP had bought Apollo computers and was trying to get into the CAE space with a huge fanfare. They started presenting their software plans of the future and convinced RCA to buy multi-millions of dollars of computers in preparation for their software launch. After the launch slipped month by month for a year, they announced that they were getting out of the CAE space and refused to take back the equipment. It took years of litigation. HP ultimately lost.

Some companies never learn from their mistakes.

BTW, the reason that RCA is gone was solely due to GE, who paid less for it than RCA had cash in the bank and then closed every division except NBC because they didn't believe that they could compete in the commercial world market. Many 10's of thousands of RCA employees in the US alone lost their jobs during this process (13k in NJ alone). GE's Jack Welsh was voted Time's Man of the Year that year. A few years later he won it again because of his "Employes are our most valuable resource" speech.