Big ships are slow to turn. One systemic cause based on my experience in old-big companies is that if profit margins on some products are high, mid and some high level managers maximize that product (e.g. roll-to-roll manufactured films in Kodak). With such optimization, you end up at "local-maxima". This continues until you have an "iceberg right ahead" moment when profits start to spiral downward. Depending on the pace of growth of the technology/sales of your competitor(s), this descent is rapid and irreversible.