Innovative Performance Overview of Eastman Kodak
Kodak was founded in 1888 and it dates 128 years on its timeline. George Eastman, the company’s founder, who was a pioneer entrepreneur, had a lively and innovative mind, invented the roll film allowing photography to evolve into a hobby of the masses. For almost one century Kodak was known for its pioneering technology and revolutionary marketing as until the 1990s Kodak was ranked as one of the world’s five most valuable brands.
Unfortunately, despite Kodak’s long-time walk of fame, the disastrous defeat came along with the introduction of digital technology in the photographic industry. While Kodak persisted on using film, digital photography was replacing film and Kodak’s revenues and profits …show more content…
It cannot be applied haphazardly; it must be used strategically in order to shape competitive advantage. (lecture notes, lecture 3, slide 4) Kodak was not able to adopt their strategy to the discontinuous change of the industry. The once powerhouse of the world which had a dominant position in the photography industry lost the opportunity in digital photography, a technology that invented. Steve Sasson, the electrical engineer who invented the digital camera, shared to the New York Times in 2008 the management’s response to his invention – “That’s cute, but don’t tell anyone about it.” . Kodak had the opportunity to enter a blue ocean -an uncontested market place with Steve’s Sasson pioneer innovation although, the inability of Kodak’s management to notice digital photography as a truculent technology was the direct reason of Kodak’s long-term decline as they thought that it was a threat to the film (which they were producing and selling).
After emerging from Chapter 11 Bankruptcy former CEO, Antonio Perez said in a statement: "Next, we move on to emergence as a technology leader serving large and growing commercial imaging markets," Following its successful recovery from bankruptcy, Kodak diversified and ironically left behind the photography industry in an attempt to move into a new era and marketplace. Since Kodak lost the battle due to the high rivalry among competitors …show more content…
Introduced and described by C. K. Prahalad and Gary Hamel, core competencies can be defined as a bundle of skills and technologies rather than a single discrete skill or technology. Additionally, according to Gary Hamel and Prahalad, core competencies apply at least three tests. hThe first one is that they provide potential access to a wide variety of markets. In Kodak’s case, this can be applied by the fact that now Kodak is focused on new and different markets than it did before. The company is involved in many industries such as graphic communication, packaging, touch screen sensors, motion picture films and consumer inject. The second test implies that “a core competence should make a considerable contribution to the anticipated customer benefits of the end product”. By fully utilising its strong R&D and sufficient expertise in the chemistry industry, Kodak strives for the maximum customer benefit and product satisfaction. The introduction of the “KODAK SONORA”, a new Process Free Plates which allows customers to no longer need to purchase or handle chemicals, in May 2014 is a substantial example of Kodak’s attempt to achieve the best benefit for the customers enabling them to be competitive, reduce costs and decrease environmental impact. In the company’s own words they anticipate that over 2300000 litre of chemistry will be saved from the adaption to SONORA Plates and printers will
Kodak was founded in 1888 and it dates 128 years on its timeline. George Eastman, the company’s founder, who was a pioneer entrepreneur, had a lively and innovative mind, invented the roll film allowing photography to evolve into a hobby of the masses. For almost one century Kodak was known for its pioneering technology and revolutionary marketing as until the 1990s Kodak was ranked as one of the world’s five most valuable brands.
Unfortunately, despite Kodak’s long-time walk of fame, the disastrous defeat came along with the introduction of digital technology in the photographic industry. While Kodak persisted on using film, digital photography was replacing film and Kodak’s revenues and profits …show more content…
It cannot be applied haphazardly; it must be used strategically in order to shape competitive advantage. (lecture notes, lecture 3, slide 4) Kodak was not able to adopt their strategy to the discontinuous change of the industry. The once powerhouse of the world which had a dominant position in the photography industry lost the opportunity in digital photography, a technology that invented. Steve Sasson, the electrical engineer who invented the digital camera, shared to the New York Times in 2008 the management’s response to his invention – “That’s cute, but don’t tell anyone about it.” . Kodak had the opportunity to enter a blue ocean -an uncontested market place with Steve’s Sasson pioneer innovation although, the inability of Kodak’s management to notice digital photography as a truculent technology was the direct reason of Kodak’s long-term decline as they thought that it was a threat to the film (which they were producing and selling).
After emerging from Chapter 11 Bankruptcy former CEO, Antonio Perez said in a statement: "Next, we move on to emergence as a technology leader serving large and growing commercial imaging markets," Following its successful recovery from bankruptcy, Kodak diversified and ironically left behind the photography industry in an attempt to move into a new era and marketplace. Since Kodak lost the battle due to the high rivalry among competitors …show more content…
Introduced and described by C. K. Prahalad and Gary Hamel, core competencies can be defined as a bundle of skills and technologies rather than a single discrete skill or technology. Additionally, according to Gary Hamel and Prahalad, core competencies apply at least three tests. hThe first one is that they provide potential access to a wide variety of markets. In Kodak’s case, this can be applied by the fact that now Kodak is focused on new and different markets than it did before. The company is involved in many industries such as graphic communication, packaging, touch screen sensors, motion picture films and consumer inject. The second test implies that “a core competence should make a considerable contribution to the anticipated customer benefits of the end product”. By fully utilising its strong R&D and sufficient expertise in the chemistry industry, Kodak strives for the maximum customer benefit and product satisfaction. The introduction of the “KODAK SONORA”, a new Process Free Plates which allows customers to no longer need to purchase or handle chemicals, in May 2014 is a substantial example of Kodak’s attempt to achieve the best benefit for the customers enabling them to be competitive, reduce costs and decrease environmental impact. In the company’s own words they anticipate that over 2300000 litre of chemistry will be saved from the adaption to SONORA Plates and printers will