Carl Johnson The facts suggest otherwise.
Posted on November 23, by janeneel Abstract Changes in the external environment largely dictate the changes that businesses should initiate.
This will enable businesses to always be in touch with the market and also ensure that the products they produce reflect the needs of the market. This paper highlights some of the factors that are critical in the success of failure of a business.
The paper acknowledges that all business activities should be customer biased if they are to create and sustain competitive advantage.
Base on this, the paper touches on the factors that are believed to Marketing at kodak behind the success and failure of Kodak. Kodak was at one time the leaders in imaging and photography industry but its own success resulted to its failure. Recommendations are based on the findings and discussion within the paper are made with an aim of ensuring that Kodak does not make the same mistakes in the future even though the recommendations can be used by any other business organization.
Introduction The rapid development of technology has been useful and also a disadvantage to commercial firms. Useful because the commercial firms have been able to create and some enhance their competitiveness. At the same time the development in technology has resulted to increased competition that has forced firms to come up with better and differentiated strategies failure to which they loose their competitiveness.
In order to create and sustain competitiveness despite the changing developments inn technology, commercial firms have to ensure that they come up with products that reflect the market needs and expectations. This is because as technology changes, the needs and expectations will also change Rhaiem, This research paper will focus on the success and failure of Kodak and will be subdivided into; literature review which will focus on what researchers have to argue about success and failure of commercial firms, methodology which will focus on the methods that will be used to collect information about Kodak and its success and failure, findings and discussions and finally conclusion and references.
A list of the used references will be compiled and placed within the references section. Background information of Kodak Kodak is a multinational company based in US but with operations across the globe.
The company was established in l by George Eastman. The company as then known as Eastman Kodak Company but currently is popularly known as Kodak.
The company is involved in the production of photographic and imaging materials and equipments Fandel, The company is popularly known for its Kodak photographic films that have been wisely used across the globe.
Kodak has been successful in the Photography industry as it held the highest percentage of market share. With the high development of technology and high rate of globalization, more players gained entry into the industry and increased competition.
The failure of the company came in the late s when digital technology came into play and Kodak was dominant inn its adaption Black, Literature Review In order for commercial firms to create and sustain their competitive advantage, they have to ensure that their products reflect the needs and expectations of the market.
There are several factors that can lead to a business being successful. Empowering and visionary leadership is very essential.
This means a leadership that is concerned with the needs and expectations of the stakeholders Rhaiem, For any commercial organization to be successful, it has to have a transformative leadership. This kind of leadership motivates the people to achieve the best they can.
In other words, the transformative leadership triggers some intrinsic factors that motivate the employees to be committed to the strategic objectives of the firm. The well-defined vision and strategic objectives of the firm have to be shared across the firm such that everybody within the firm knows what to achieve and the timeframes within which they must be achieved.
Most of the researchers have argued that the most effective way of communicating the vision and strategic objectives of commercial firms is by involving all the necessary stakeholders in decision making process Pham-Gia, For example, the customers must be involved in order to ensure that the final products reflect the needs.
The employees have to be involved in decision making as they will be responsible in implementing them. In other words, failure by commercial firms to come up with products that address the needs of the market will result to the firm undertaking intensive marketing activities which might not be successful.
Monitoring of the external environment is essential as it provides the company with opportunities that cane be exploited to enhance the competitive advantage or threats which when not addressed can result to the lose of competitiveness. Involving the employees ensures that the implementation process is smooth and that the operational costs are retained as low as possible.A generation ago, a “Kodak moment” meant something that was worth saving and savoring.
Today, the term increasingly serves as a corporate bogeyman that warns executives of the need to stand up. Work in HR/Personnel or Marketing? Grow your employer brand. Get a free employer account.
Companies to Explore. Job Seekers Also Viewed Previous Next. Eastman Kodak. Glassdoor gives you an inside look at what it's like to work at Kodak LTD., including salaries, reviews, office photos, and more. This is the Kodak LTD. company profile.
Nov 26, · The hope was that Kodak might be able to slow the shift to digital through aggressive marketing. The company hedged its bets and launched an all-out blitz on the digital camera market. Kodak faced a similar story in the aughts, when it first attempted to remake itself as a leading digital camera company, and more recently, as a high tech printer maker.
Mar 22, · What happens when a tech company is left for dead but the people left behind refuse to give up? At Kodak, the answer is to mine its patents for gold. (With video.). The Eastman Kodak Company (referred to simply as Kodak) is an American technology company that produces imaging products with its historic basis on photography.
The company is headquartered in Rochester, New York, and is incorporated in New Jersey. .