Submitted by: Submitted by sammy203
Views: 10
Words: 584
Pages: 3
Category: Business and Industry
Date Submitted: 04/19/2016 11:03 AM
1. Kodak’s business marketing goal was to preserve its lucrative film business even subsequent to when digital products were redefining the market. The company had the perspective that it was in the film industry rather than the storytelling business and perceived that it could guard its vast share of the market utilizing its marketing. Kodak believed that its latest digital technology would overtake its film business. Over that past 25 years, the strategy should have evolved such that the company should have altered to become more flexible and open to new ideas. It should learn to embrace the latest in the market and discovering ways of making them work.
a. Kodak’s strategy to its goals was to hold back and not focus on the digital camera business, which it was credited with having invented owing to its engineer, Steven Sasson - the individual who created it. It was so focused on dominating and thriving in the film industry that in the fear of losing its position, it looked down on the digital camera business and paid little attention to it.
b. Some strategies that Kodak could have employed to be successful are to act boldly and fast. It could learn from Fujifilm which cut $2.5 billion in expenses in 2005 and 2006 in the photographic film industry. It closed manufacturing facilities and cast off thousands of jobs. It targeted to utterly convert the business design, and it did not hesitate to achieve this at the expense of its own profitable business.
Kodak should learn to be one step ahead. When challenged with big changes, natural tendencies are to adjust just enough to cope with the transformation. Nevertheless, this will perpetually put one in a compromising situation in contrast to more innovative enterprises with the absence of the burden of legacy business. Kodak ought to learn to see opportunities when presented to it and grabbing them when they are still hot. Kodak had the upper hand with the digital camera. If there is one company that...