Business and Management
Submitted By LinoJ
Kodak and Fujifilm
BUS 200 – Principles of Management
October 29, 2013
Describe the History and core history of each company. Eastman Kodak Company was established by George Eastman in Rochester NY in 1882. In 1883, Eastman announced the invention of photographic film in rolls. The name Kodak was patent in 1888. He picked the unique name because he wanted a name that started and ended with the letter K. He also knew the name was different than any other names he has heard and would be unforgettable. Eastman as an inventor who introduced armature photopraphy placed its first camera on the market in 1888. The camera was pre-filled with 100 exposures, after taking pictures customers would return the whole camera back to the manufactures to get the film developed and the camera reloaded with more film. The company’s slogan was “You press the button, we do the rest.” George Eastman literally invented popular photography with the silver-halide film process. Eastman had a specific set of core values and mission statement for his company. The values he set forth are, respect for the dignity of the individual, integrity, trust, credibility, continuous improvement and personal renewal, recognition and celebration. The mission of Kodak is to “grow more rapidly than our competitors by providing customers with solutions they need to capture, store, process, output and communicate images anywhere, anytime.” The company prided itself on making sure that the mission statement and core of the company was represented in how they treated their customers and employees.
Fujifilm was founded on January 20, 1934 as Fuji Shashin Film K.K., and later translated to Fuji Photo Film Co. Ltd. The companies first CEO was Asano Shuichi. He is believed to have chosen the name Fuji because of Mt. Fuji. The name was already registered to a third party, but 1 the rights were bought for 8,000 yins, an important sum at the time. Fuji produced optical glass in the early 1940s for military use. The dependent company Fuji Photo Optical was founded in 1944, but was absorbed back to Fuji Shashin Film after 1945. Many Fuji companies were made after the war, but all eventually became the Fujifilm Group. Fujifilms mission is to be the recognized leader providing solutions to meet each customer imaging and information needs. As with any company Fujifilms also has their set of core values. They are individually and collectively, responsible for creating a positive work environment. They Demonstrate concerns for people and the quality of their work life. They invest in the development of their people. Fujifilm is customer driven has open communication thrives on team work, and has individual and organizational accountability.
Compare and contrast the approach to management that each company has pursued in order to embrace innovation. Kodak and Fujifilm both knew that the digital age was approaching quickly. Fujifilm CEO Shigetaka Komori said in an interview “the question was, what to do about it.” Fuji went further than just moving from digital to analog. The company begins to think outside the box and submerged itself into LCD TV’s and into the health field with its drugs using their chemical experts. Fujifilm set itself apart from Kodak by stepping out from the old and into the new. Kodak knowingly knew that the digital age was at its heels stood by and did nothing to help itself become more modern and technological to keep up with its competitor Fuji. They hope to 2 keep themselves afloat by their long term customer relationships, since they were Fujifilm senior by 50yrs. They were trying to keep people into buying film when the public simply did not want to stay stuck in the stone-age. Instead of Kodak pursuing the new innovative life style of their consumers, they talked about it, but did nothing about it. By the time Kodak finally lifted its Blinders and was awaking from their old fashion ways and realized what worked before isn’t working now was too late.
Determine what other management differences have impacted the relative success of Kodak and Fujifilm. Provide specific examples to support your response. Other than Planning, organizing, controlling and leading, these two companies by far surpassed any of their other competitors. Kodak and Fujifilm embraced innovation and planning from top to bottom. They made their plans work by using S.M.A.R.T goals. Decision making was also crucial into determining the success to these two companies. Kodak use these factors into placing its pre rolled film onto the shelves in America being the only company to cater towards the amateur photographer. In 1994 the Quicktake one of Apple’s first consumer digital camera was designed by Kodak. Fujifilm used their management skills in such a way to break into the medical and health field, I’m sure that took a lot of planning and decision making from the top. It also took a great deal of planning, marketing and decision making for Fuji to step into the electronics business and make LCD TV’s.
Evaluate each company’s approach to ethics and social responsibility and the impact that those approaches have had on each company’s profitability. Going green, knowing your companies carbon foot print, recycling and recycling rain water are just some examples of how companies show social responsibilities. Some companies use solar panels and low flush toilets, suggest bicycling and car pooling to their employees as a way of saving money, time, energy and pollution. When it comes to ethics and social responsibility, Kodak ranked 58 out of 1,000 companies in Business Ethics magazine. Kodak has an anti-discrimination policy for gay, bi-sexual and transgendered employees, and also fair treatment for women and minorities. Having these ethics contributes to the company’s’ profit by not offending any group of people. By having ethical and social policies in place it allows the company to have a wider consumer margin, also shows that it is a well diverse and sociably accepting company.
Fujifilm is by far not just a camera and film company. Fujifilm helps to connect people to medical care with its health care services, its unique Corna connect medical network service is tailored to help physicians transfer information. Fujifilm came up with an anti-counterfeit devise an image analyses to help prevent imitation and easily confirm authenticity. By providing these products to enhance the day-to-day life of the consumer it builds a relationship with the customer that the customer will share with others in turn making more profit for the company.
Discuss the extent in which management of both companies adapted to changing market conditions. I believe that both Kodak and Fujifilm adapted to the changing market by always planning out their next move into what is next in the camera film industry. It also has to do with making sure that there is a good team of managers and management to compliment their company, moving forward with new ideas and embracing newer technologies is an everyday task. To keep up with this fast-paced fast moving society that we live in requires much focus and concentration. Having teams of decision makers, research and development to help produce the next big thing is only part of what Kodak and Fujifilm has to do to adapt to the changing market. The two have to deal with some pitfalls if the new product fails they have to test market the products set pricing and demographics of where the product would be sold. Since business changes every year both companies rely on social media to see how well their product is doing or to see what’s the next craze or where they need to make a change or changes to an existing product.
Recommend three(3) ways any company should build in flexibility to back up decision-making process in order to adapt to changing market conditions.
Having goals and planning is good but what happens when the market suddenly change in the
middle of production. One way for a company to be prepared for these types of situations is to always leave room for some change and keep a plan B. They can also keep track of their competitors whose products are like theirs or similar, especially if it’s slightly better and then improve on it. Having and keeping the research and developing team continuously working hard to develop new innovative products and to extent and or improve on existing products. Management has tremendously changed throughout history. Without these changes mangers would still be scientific and not caring about the human relations that they should have with their employees. Lunch breaks and 15 minute breaks would be unheard of, until they realized that workers who rest in the middle of their work day produced better instead of doing the minimal work required or less. Allowing employees to make suggestions and taking their suggestions into consideration. Companies now hire people based on their skills and or training them for a specific job and not by hiring them because of who knows whom. Today we have human resources, open door policies, meetings and unions to help assist and to make sure every party evolved employers and employees are treated equally and fairly and no laws are being broken.
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