Abstract This paper will explain the history, business approaches, management, and marketing of Eastman Kodak and Fujifilm. The paper will compare and contrast the approach to management that each company has pursued in order to embrace innovation. Determine what other management differences have impacted the relative success of Kodak and Fujifilm. Evaluate each company’s approach to ethics and social responsibility and the impact those approaches have had on each company profitability. Discuss the extent to which management of both companies adapted to changing market conditions. Look at three ways any company could build in flexibility to back up its decision-making process in order to adapt to changing market conditions.
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Fujifilm came into the market with an open and innovated mindset which allowed them to continue to grow and be successful. Since entering the photographic film world Fujifilm has branched into other business ventures which include cosmetics, biotechnology, medical diagnostic systems, touch-sensitive screens, and lenses to explore space. Fujifilm prides itself on being the “world’s largest film and imaging company.”
Compare and contrast the approach to management that each company has pursued in order to embrace innovation. The approach to management by Kodak and Fujifilm would evidently have minimal similarities but many differences. The reasoning behind this is because Kodak failed to adapt to the changing market, whereas Fujifilm maintained its original product and expanded its business beyond the original products. Kodak failed in the innovative management process of running a company which led to their bankruptcy. Unlike Fujifilm, Kodak did not move into the digital world well enough and fast enough. Recent articles have done more digging and found that there were people who saw the problem coming but the firm did not have a proactive approach. The most logical reasoning behind the lack of innovation at Kodak, was that the organization had become complacent. Kodak was failing to keep up