Eastman Kodak Company; A name that was popular in the area of photography for more than 100 years, not only in America but also all around the world. Kodak is a technology company mainly focused on imaging solution headquartered in Rochester city of New York. It was funded by George Eastman in 1888. Eastman started his company as a dry plate (a glass plate used for photography in the early stage) manufacturing company and later he invented roll film and company shifted to roll film manufacturing. For the past 130 years they did business on photo & video films and photo processing chemicals The growth of the photographic industry was the contribution of Kodak, in other words photography grown with innovations of Kodak. Over these years photographic
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In the year 1976 Kodak held 90% of the film market in United States and continues to hold the top hand in the world market. The sales graph of Kodak showed continues growth from the 1888 till 1990s.
By the end of 1990s Kodak started to lose its markets and declined its sales. Japan’s Fujifilm introduce low cost films in the market that created a compaction in the market, also by the end of 20s Digital photography became popular among people. These two reasons badly affected the sale of Kodak. Slowness to catch up with digital technologies accelerated its fall.
Kodak started to face financial problem due to the decline in the sales. From 2000 sales of Kodak continuously declined and share value experience bear. It end up in bankruptcy in January 2012, Kodak filed a protection against chapter 11 bankruptcy in the district court of United States. Emerging with new business strategy
“Barrier to change” That is conceded as the reason for the failure of Kodak. Although Kodak invented the first digital camera in 1975 they hide their innovation because they thought that it will affect their film market. Also company didn’t act appropriately with the changes in the market, they hold on their old theories until they come under a huge fanatical burden. Failure in the market forced them to rethink about their business …show more content…
Antonio Pérez former CEO of Kodak shut down film factory and outsourced its jobs. To collect fund for future business and investment Kodak sold its photographic patents. At the second stage company also introduced changes the top level management including the CEO. Kodak replaced all top level managers and new CEO Jeffrey J. Clarke is elected by the board of directors in March 2014. The new team shifted their marketing to customer oriented rather than company oriented, also Jeffrey introduced drastic change in the business that is company no longer serve individual customer but they will focus on commercial customers such as large companies and organizations, it helped company reduce initial investment cost and overall cost
In the year 1976 Kodak held 90% of the film market in United States and continues to hold the top hand in the world market. The sales graph of Kodak showed continues growth from the 1888 till 1990s.
By the end of 1990s Kodak started to lose its markets and declined its sales. Japan’s Fujifilm introduce low cost films in the market that created a compaction in the market, also by the end of 20s Digital photography became popular among people. These two reasons badly affected the sale of Kodak. Slowness to catch up with digital technologies accelerated its fall.
Kodak started to face financial problem due to the decline in the sales. From 2000 sales of Kodak continuously declined and share value experience bear. It end up in bankruptcy in January 2012, Kodak filed a protection against chapter 11 bankruptcy in the district court of United States. Emerging with new business strategy
“Barrier to change” That is conceded as the reason for the failure of Kodak. Although Kodak invented the first digital camera in 1975 they hide their innovation because they thought that it will affect their film market. Also company didn’t act appropriately with the changes in the market, they hold on their old theories until they come under a huge fanatical burden. Failure in the market forced them to rethink about their business …show more content…
Antonio Pérez former CEO of Kodak shut down film factory and outsourced its jobs. To collect fund for future business and investment Kodak sold its photographic patents. At the second stage company also introduced changes the top level management including the CEO. Kodak replaced all top level managers and new CEO Jeffrey J. Clarke is elected by the board of directors in March 2014. The new team shifted their marketing to customer oriented rather than company oriented, also Jeffrey introduced drastic change in the business that is company no longer serve individual customer but they will focus on commercial customers such as large companies and organizations, it helped company reduce initial investment cost and overall cost