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 ...view middle of the document...
Fujifilm made its first appearance in the photographic film world in 1934 as the first Japanese producer of photographic films, which was originally based on a government plan. 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 even before the digital revolution when Fujifilm capitalized on the digital revolution. Ultimately Kodak failed to embrace the digital revolution and did not embrace innovation.
The ability of Fujifilm’s management team to embrace innovation, has resulted in them to expand their company and become the leader in the digital world. Embracing innovation Fujifilm has decided to out their motion picture film products on the backburner, while pursuing other business ventures. Taking advantage of its many skills Fujifilm has ventured into skin care products, biotechnology, medical diagnostic systems, touch-sensitive screens, and lenses to explore space. Fujifilm unlike Kodak has embraced the innovation needed to allow them to still operate efficiently and grow.
Determine what other management differences have impacted the relative success of Kodak and Fujifilm. Provide specific examples to support your response.
Kodak really dominated the industry during the 20th century. The management team found it best to connect with the market and most of its products reflected the needs and expectation of the customers. They were successful because it largely dominated the market with over 90% market share in 1976. Ensuring that the products they sold and especially the cameras were inexpensive and so affordable by most of the customers was a reason for Kodak’s success. In Kodak’s early years of success they used the Push system where it produced goods and the market was only to...