After much consideration, he concluded that his company’s only hope was to abandon its long-held strategy, to acknowledge its shortcomings and embark on a radical new strategy. He ditched the company’s sputtering software business. He put teams to work developing new devices and he cut a billion-dollar software deal with one of the most powerful technology companies on the planet. Unfortunately for the shareholders of Research In Motion Ltd., the Canadian smartphone executive’s name was not Jim Balsillie or Mike Lazaridis. It was Stephen Elop, the Hamilton-born chief executive of Finnish mobile giant Nokia Corp.
I don’t think RIM can do it. They need to fire the co-CEOs and bring in someone with some imagination to clean house and get the company back on track.