This paper assesses a major transition in energy usage and distribution in the United Kingdom (UK) between 1953–73 as domestic coal gave way to electricity, and a centralized electricity generation and distribution system reached every home in the country. Our analysis significantly extends and reinterprets the business history of the National Grid by exploring the consequences of its completion. We argue that the National Grid facilitated the removal of the railways as an energy distribution network and enabled prototype “Net Zero” policies in the context of atmospheric pollution. We tie these themes together to conclude that the construction of the national grid was a major environmental success but removed an essential rationale for much of the rail network.

This research reconstructs the business dynamics behind the evolution of the European mutual fund industry, which led Luxembourg to become its main international gateway since the 1960s. We analyze this local industry to understand how political and financial élites influence the economic specialization of small states. We argue that a closely-knit community of local professionals and politicians, well-versed in corporate and European legislation, leveraged the Grand Duchy’s small state status within the nascent European Community to become a financial hub specializing in mutual funds within an emerging network of international financial centers. This position was achieved through bifurcation of sovereignty strategies on the basis of two main premises. First, on the systematic acceptance of conflicts of interest within local financial and political leadership, comprising overlapping roles, revolving-doors, and familial ties in business relationships. Second, on regulatory engineering practices, such as the dynamic interpretation of laws, and the strategic planning of directive assimilation to advance Luxembourg’s interests as opposed to its EU counterparts. The analysis uses archival material from nine archival collections and oral history interviews.

In 1888, George Eastman introduced Kodak, one of the first affordable, user-friendly photographic film cameras. The camera’s success planted seeds for a global market for amateur photography that the Eastman Kodak Company would dominate for over a century. Leveraging substantial profits from photographic film, Kodak invested heavily in research and development, continuously innovating in amateur photography and pioneering new technological domains. From the 1970s onward, as growth in its core business began to slow and new imaging technologies emerged, Kodak embarked on significant strategic renewal initiatives. These efforts included diversifying into industries such as plain paper copiers and pharmaceuticals and developing digital products for photography applications. Despite considerable investments in innovation and growing new businesses over several decades, Kodak ultimately failed to find a viable path to sustaining its success; it filed for bankruptcy in 2012. The company’s decline illustrates the inherent challenges of sustaining a successful enterprise in evolving markets and technologies. Furthermore, it raises critical questions about the effectiveness of strategic renewal efforts, particularly when high-performance expectations are set within an environment of significant uncertainty.