...1101IBA- Management Concepts Assessment 2: Report Report on Strategic Management at Eastman Kodak Prepared by: Alisiya Bell S2944536 Due Date: Tuesday, 23 September 2014 Word count: 1426 Introduction: Once a great leader and legendary brand in the photographic film industry, Eastman Kodak is now fighting to recover from a tech revolution that is strangling its core business. Kodak Chief Executive Antonio M. Perez is on the road to innovation. Taking in to consideration of the mistakes and lessons learnt from the past, Perez is reinventing the company’s core business model. As Perez reassembled the business he replaced a lot of executives to get the organisation on track. While Perez’s innovation of the organisation could be argued that this will help Kodak recover, there are also many substantial problems that could occur. One major problem for Kodak is the lack of strategic management. Although there are many various ways to define strategic management, David, F.R (2009) defines strategic management as a “continuous process of strategic analysis, strategy creation, implementation and monitoring, used by organisations with the purpose to achieve and maintain a competitive advantage.” Problem Identification: All main business ideas for Kodak seem to come just from the Chief Executive Perez. Leaving a lot of the main strategic planning just up to him. Kodak has previously displayed what an organisation with the absence of strategic management can look...
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... Kodak and Fujifilm According to the Fujifilm Global, “Fujifilm was established in 1934 with the aim of producing photographic films.” Over decades they have diversified into new markets and built a very strong presence around the globe. Many people may ask who uses Fujifilm in there career or life, according to business products professionals from medicine to printing uses Fujifilm products to win satisfied customers and strengthen competiveness. Fujifilm originated as a cinematic film producer and has grown into a multidimensional manufacturer and marketer of imagining and informational products. According to Fuji photo films, Fujifilm is the second largest photographic film in the world. Fuji also makes motion pictures film, video tapes, audio tape, and floppy discs. Fuji first task was to build a reputation in the domestic market. Brand reliability proved critical in the photosensitive materials industry, since buyers were not willing to risk losing a desired imaged to inadequate materials, regardless of cost. According to the early history, Fuji continued to lose sales, increased debts, and struggled to meet research expense for the first three years. Another well-known photo company is the Kodak. According to ezine articles Kodak was started in the 1870’s, and also was born as a trademark. The first portable camera was introduced and signaled as the birth snapshot photography. The company name was changed to Eastman Kodak Company in the year of...
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...finance and technology: the ability of potential students to afford rising costs and the ability of traditional universities and colleges to remain relevant in the digital marketplace. And, the success or failure of this model depend on whether the lessons of history are employed to keep pace in an ever changing marketplace. And through the lens of a globally recognized brand that lost its battle with dominance, the future for the current model of higher education may become obsolete raising ethical concerns that warrant consideration. With the costs of a traditional education topping figures in the triple digit thousands, perceived value of that medium has declined. In some traditional settings Instructor Led Training has been supplemented by online courses, often with more flexible deadlines in an effort to boost enrollment. This trend, in addition to the sheer number of "massive open online courses," or MOOCs seizing opportunity in the marketplace are positioning distance learning as the preferred medium (Carr, 2012). The additional challenge of remaining technologically relevant might best be viewed via the prism of the Kodak story. Having held a dominant position in the photographic film market for most of the 20th century, Kodak began to struggle for its failure to adapt to where the industry was heading. As a result, they filed for Chapter 11 bankruptcy protection in 2012 (Larish, 2012). And for higher education the challenge is equally significant. It is nearly impossible...
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...the company at the turn of the last century, Eastman Kodak has been one of the most important corporate citizens in the Rochester, New York, community. Over the 1900s, Kodak developed a reputation as one of the leading proponents of welfare capitalism. In fact, the company maintained its reputation for paying high wages and providing lifetime job security into the 1980s. However, during the 1980s, the company embarked on a diversification and acquisition strategy by purchasing Sterling Drug Company and expanding into a wider range of products, such as office copying machinery. Increased competition in its film and camera markets and the subsequent loss of market share led to the replacement of CEO Kay Whitmore with the former CEO of Motorola, George Fisher. Kodak’s case study tells the story of a long-standing company with a reputation for social responsibility earned through its community activities, its implied commitment to lifetime employment, and its high-wage and comprehensive fringe benefit policies. A highly integrated firm, it also performed all of its own R&D, manufacturing, and sales functions. A business press article in 1998 echoed the investment community’s criticism of the company for maintaining this integrated model too long: Many of Kodak’s problems stem from the company’s remarkable success in the century following its founding in 1892. Unfortunately, as the world changed rapidly over the past 20 years, Kodak remained stuck in its illustrious past. Other world-class...
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...GallowayStrayer University08/05/2014 | | Eastman Kodak Company and Fujifilm are competing corporations in the photography industry. When the industry changed both companies were affected, but due to very different management styles and ability to adapt to change Fujifilm took a lead while Kodak fell behind. George Eastman founded Kodak, in 1888. The company’s early success was based on the new technology for cameras. The camera simplified the photo taking process (Williams, C. 2013) Kodak’s main focus was photography and imaging. They had an array of products that ranged from photography equipment, film, paper and color chemicals. In the1980’s, Kodak’s market share reached 90%. This was a very special moment in the company’s history. Kodak developed the first concept of the digital camera in 1975. Their executives could not imagine the world without traditional film; unfortunately, the idea was dropped because they feared it would threaten the company’s film business. Digital cameras would become common; the technology started to spread and film sales dropped considerably at the late 1990’s. Kodak made a slow transition to digital technology. Unfortunately, their competitors adapted to change. This lead to Kodak’s loss of market shares both in the United States and worldwide. The company filed for Chapter 11 bankruptcy protection. After one year of continuous battle to keep the company prosperous, the court approved financing for them. Kodak sold many of its patents to groups of companies...
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...This strong sense of nationalism connected to Harley motorcycles resulted in brand recognition and loyalty that continues to this day. Harley’s “tough” brand image is a competitive advantage in terms of attracting customers who favor or relate to this image. However, in some cases, its brand image is a competitive disadvantage because it does not appeal to certain target segments such as female riders. 2. Product customization: The most distinctive feature of Harley was the V-twin engine. The V-twin engine’s simple design allowed owners to tinker with their engines. At present, Harley offers a complete line of motorcycle parts, accessories, riding gear and apparel, and general merchandise. In addition, customers are able to choose from a wide array of colors, decals, and stylized designs to personalize their motorcycles. The option to customize is a current source of competitive advantage since it better meets the needs and wants of each customer. Through...
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...Kodak 1. Did Kodak face more of a calm waters or white-water rapids environment? Explain. What external and internal forces impacted on Kodak? Kodak faced more of s white- water rapids environment because of the fact that circumstances were both uncertain and dynamic, as it was the case of the technological industry. The Kodak problem, on the surface, was that it did not move into the digital world well enough and fast enough, although they invented the digital photography in 1975. (New York, 2012). In the company there were people who saw the problem coming, but the firm did not act when it should have, which is decades ago. Rick Braddock, a Kodak director since 1987, whose career spans Wall Street, online retailing and private equity, recalls that “the mindset of the company was ready for the challenge: it was ‘Batten down the hatches’. We sold the healthcare business and we started the process of developing a digital response. But the way the market shifted was dramatically faster than we had anticipated or than I’d ever seen”. (Hill, 2012) 2. How would you evaluate Kodak's handling of the forced downsizing that it had to implement? Downsizing is the systematic reduction of a workforce through an intentionally instituted set of activities by which organizations aim to improve efficiency and performance. (Appelbaum, 1999, p. 536). It means a permanent reduction of workforce through diverse means and changes on different level that affect the workforce. Corporate...
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...Failure is a path to understanding success MGT302 Management and Leadership June 08, 2012 Failure is a path to understanding success Success means being a winner, an achiever. When we are successful, we feel good. This means that we have achieved a goal that we have set, or that we have experienced some good fortune. Too often, however, our successes run through our fingers like water, regardless of how tight we cling to them, and soon we find ourselves unsuccessful once more (Rock, 2007). By the time Steve Jobs’ (1955-2011) Wikipedia page had been adjusted to past tense, eulogists had added a footnote to his biography of success – failure. Steve Jobs, though wildly successful, also failed often and badly. Therein, perhaps lies the larger lesson of his life: Sometimes you have to fail to succeed (Parker, 2011). The truth is you usually have to fail to succeed. No one emerges at the top. Even those born lucky eventually get a turn on the wheel of misfortune. Anyone with a resume of accomplishments also has a resume of failures, humiliations and setbacks. Steve Jobs was fired by the company he cofounded. Yet it was during this period of exile that he picked up a little computer graphics company later called Pixar® Animation Studios, the sale of which made him a billionaire. This is to say, to fail is human. To resurrect oneself is an act of courage (Parker, 2011). If you want to learn the secrets of success, it seems perfectly reasonable...
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... BBAMGT 00009666 Date of Submission: 8th December 2014 Question 1: With reference to the case study, provide one example with a paragraph of not more than 5 lines, which clearly illustrates a link between topics or concepts drawn from at least 2 modules you studied. Launched in late 2001, the iPod was followed by the iTunes Music Store in 2003 in the USA and 2004 in the Europe – the Music Store being a most important and innovatory development. iTunes was essentially an agreement with the world’s five leading record companies to allow legal downloading of music tracks using the internet for 99 cents each. This was a major coup for Apple – it had persuaded the record companies to adopt a different approach to the problem of music piracy. With the slogan "Thinnovation" (2008), apple has become the world's most valuable company and one of the world's most valuable brands. Apple has brought three main marketing strategies that help the company to maintain their competitive advantage which can assemble to empathy, focus, and impute (Christine Moorman, 2008). Innovative Competitive strategy is a tool that companies use to achieve competitive advantages which consists of three main strategy low-price, differentiation and focus (Maria, 2012). Low-price strategy focuses on providing the same value as what competitors do with lower price, in the contrast, the differentiation strategy concentrates on providing different value of services and products compare to competitors...
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...CLASS: BA0661 INDIVIDUAL ASSIGNMENT THE FINANCIAL STATEMENT OF KODAK AND ITS BANKRUPT I) Introduce For many years, the name Kodak synonymous with camera, but after 131 years, Eastman Kodak prepare to fade in history. What happened? The recent report showed a dismal situation and bankruptcy may be inevitable. So essentially, what mistakes did Kodak acquired ? II) History of Kodak With the slogan "you press the button, we do the rest," George Eastman put the first simple camera into the hands of a world of consumers in 1888. In so doing, he made a cumbersome and complicated process easy to use and accessible to nearly everyone.Since that time, the Eastman Kodak Company has led the way with an abundance of new products and processes to make photography simpler, more useful and more enjoyable. In fact, today's Kodak is known not only for photography, but also for images used in a variety of leisure, commercial, entertainment and scientific applications. Its reach increasingly involves the use of technology to combine images and information--creating the potential to profoundly change how people and businesses communicate.Just as Eastman had a goal to make photography "as convenient as the pencil," Kodak continues to expand the ways images touch people's daily lives. The company ranks as a premier multinational corporation, with a brand recognized in virtually every country around the world. | | Kodak has made it easy to enjoy your pictures. The expression 'You Press...
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...approaching the philosophy of modern business. The core of this article is to criticize myopic visions of managers who always pay attention to their selling targets as well as their firms’ without perceiving that the most crucial goal in business is to satisfy customers, not to sell products. In order to illustrate his view, Levitt (1960) take the railroad industry as a typical example for the failure in its business at that time. In this case, he points his finger on the railroads’ disorientation as the main culprit in making their customers to use others such as cars, trucks, airplanes and even telephones instead of being royal travelers to the old traditional transportation. In other words, the railroads killed their business by themselves because they determined their industry in a wrong mind and the reason as Levitt (1960) mentioned was because they were product-oriented (railroad-oriented) instead of customer-oriented (transportation-oriented). Once again, the railroads’ illustration was cited by James R. Stock (2002) in his paper namely Marketing Myopia Revisited: Lessons For Logistics as an evidence to prove that Levitt’s view still has entire impacts on the discipline of...
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...------------------------------------------------- Case Analysis Guidelines & Checklist Overview: In many ways writing a short analysis paper (including recommendations and/or conclusions) is like writing an “action memo” or executive memo in business. The following sections go over how to organize and format your written work here in class and in the business world to be attractive to the reader and effective in getting your point across. Approach: * Read the entire case carefully before you actually begin to write the paper, and make careful notes (including your emotional reactions, which can be useful). Try to read the case once at least a few hours or a day earlier, and then again when you are writing the paper. This will give you time to reflect on the issues, and to think out effective recommendations before you actually have to articulate them. * Relate your analysis and recommendations as specifically as possible to concepts of the course as presented by the textbook, cases, materials on the course web site, articles, and the various guest speakers and class discussions This is where you show what you have learned and are able to apply. * Remember that you have to make careful selections of what is most important in a case, and then develop a coherent, logical way (including useful section titles) to present your arguments using the outline below. Although you may use the guidance questions to help call your attention to interesting phenomena...
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...Coordinator: Mark S. Parker Acquisitions Editor: Bobby R. Hensley PMI books are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. For more information, please write to the Business Manager, PMI Publishing Division, 40 Colonial Square, Sylva, NC 28779. Or contact your local bookstore. The paper used in this book complies with the Permanent Paper Standard issued by the National Information Standards Organization (239.48-1984). Table of Contents Acknowledgments Preface viii vii Chapter One: Planning 1 The Benfield Column Repair Project 5 Food Waste Composting at Larry's Markets 15 W W g the Sydney to Hobart: A Case Study in Project Management 17 Kodak's New Focus 29 Managing Kuwait Oil Fields Reconstruction Projects 39 Managing Resources and Communicating Results of Sydney's $7 Billion...
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...Abandoning Innovation in Emerging Industries* Rajshree Agarwal College of Business University of Illinois at Urbana-Champaign 350 Wohlers Hall, 1206 S. Sixth Street Champaign, IL 61822 Voice: (217) 265-5513 agarwalr@uiuc.edu Barry L. Bayus Kenan-Flagler Business School University of North Carolina CB 3490 Chapel Hill, NC 27599 Voice: (919) 962-3210 Barry_Bayus@UNC.edu Mary Tripsas Harvard Business School Soldiers Field Road Boston, MA 02163 Voice: (617) 495-8407 mtripsas@hbs.edu Preliminary Draft September, 2005 All authors contributed equally and are listed in alphabetical order. The paper has benefited from comments made by seminar participants at the Harvard Business School. All remaining errors are ours. * Abandoning Innovation in Emerging Industries Abstract Existing models of industry evolution describe a smooth pattern of emergence over time in which the number of firms in an industry increases, hits a peak, decreases as a result of a shakeout, and then stabilizes as the industry reaches maturity. Although this model has been well-accepted and the basic empirical finding holds true across a range of industries, we propose that the finding is not as robust as is generally assumed. We introduce an alternative pattern of evolution in which, during the emergent stage, an industry experiences a sharp decrease in the number of firms – a “mini shakeout” – before increasing again, reaching a final peak and undergoing a major shakeout as described in the extant literature...
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...a Hurdles Race | | | Executive Summary Every organization has a structure in place that defines the hierarchy and workflow in it. The organizational structure for a company is usually defined keeping business environment and vision in focus. The challenge arises when a company makes a transition to a new business model keeping in view the long term sustainability. The paper explains that there are primarily five major categories of organizational structures, out of which almost all the time one is adopted by a company. We cannot ignore the fact that traditional organizational structures manage the daily activities of running a company well. But with the business getting more and more dynamic, the challenge for a company lies in being flexible and innovative with these conventional structures in place. In this paper we drew inspiration from the award-winning article “Accelerate!” in Harvard Business Review, from global leadership expert John Kotter and came to the conclusion that the existing structures and processed that form the organizations - ” Operating System” need additional elements to overcome the challenges produced by mounting complexity. The solution lies in the implementing a second Operating System with a focus on continuous redefinition of strategy to keep up with market changes. The approach to have second structure emanates out of the idea that an effective organizational structure needs flexibility as essentially as stability. The paper concludes with...
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