Eastman Kodak
Eastman Kodak was a company that pioneered the forefront of film technology, but in order for Kodak to remain a viable competitor in the film industry it had to change its business strategy. Entering the photography business as innovators of film and photography equipment, particularly a dry plate coating machine paten in 1879, Eastman was considered differentiators because other companies could not imitate their initial technology. Making their technology available to every one for an affordable price was another one aspect of Eastman Kodak's philosophy. Low cost was made possible by implementing a mass production process. Because mass production could not be implemented without a high demand Eastman Kodak spent an extensive amount of funds in advertisement to promote the usefulness of an easily affordable portable camera. In the 1960's Eastman Kodak started to deviate from its core competency, which was producing photography equipment. Eastman Kodak ventured into businesses such as pharmaceuticals and chemicals amongst other business adventures unrelated to the photography business. As a result Eastman Kodak began to lose market share to foreign competition such as Fuji, and Sony who could produce a comparable product
Although Eastman Kodak had do away with many of its conglomerate business practices it still produces a wide variety of products from digital cameras to hospital In order to be able to compete in the market Eastman Kodak had to liquidate and dissolve its business ventures that were not related to its core competency and focus on what initially established it as a company, film equipment for a reasonable price. The fundamental value of the Eastman Kodak company could be summarized in an expression in its mission statement "Our mission is to take pictures further". According to the company they intend to do this by "providing customers and consumers with solutions to capture, store, process, output and communicate images to people and machines anywhere, anytime... bringing differentiated, cost-effective solutions... to the marketplace quickly and with flawless quality through a diverse team of energetic employees with the world-class talent and skills necessary to sustain Kodak as the World Leader in Imaging." Kodak operates in the traditional style of management, resulting in several layers in the management hierarchy. Strategies are developed at the top level of management usually discussed through a board of executives over seen by a CEO. Middle management ensures that the strategies are carried out in the several d
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Approximate Word count = 903
Approximate Pages = 4 (250 words per page double spaced)
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