kodak case study answers

Why Did Kodak Fail? | Kodak Bankruptcy Case Study

Yash Taneja

Kodak, as we know it today, was founded in the year 1888 by George Eastman as ‘The Eastman Kodak Company’ . It was the most famous name in the world of photography and videography in the 20th century. Kodak brought about a revolution in the photography and videography industries. At the time when only huge companies could access the cameras used for recording movies, Kodak enabled the availability of cameras to every household by producing equipment that was portable and affordable.

Kodak was the most dominant company in its field for almost the entire 20th century, but a series of wrong decisions killed its success. The company declared itself bankrupt in 2012. Why did Kodak, the king of photography and videography, go bankrupt? What was the reason behind Kodak's failure? Why did Kodak fail despite being the biggest name of its time? This case study answers the same.

Why Did Kodak Fail? Biggest Reason Of Kodak's Failure - Fights against Fuji Films Kodak's Bankruptcy Protection Ressurection of Kodak: Kodak in the mobile industry?

Why Did Kodak Fail?

Kodak, for many years, enjoyed unmatched success all over the world. By 1968, it had captured about 80% of the global market share in the field of photography.

Kodak adopted the 'razor and blades' business plan . The idea behind the razor-blade business plan is to first sell the razors with a small margin of profit. After buying the razor, the customers will have to purchase the consumables (the razor blades in this case) again and again; hence, sell the blades at a high-profit margin. Kodak's plan was to sell cameras at affordable prices with only a small margin for profit and then sell the consumables such as films, printing sheets, and other accessories at a high-profit margin .

Using this business model, Kodak was able to generate massive revenues and turned into a money-making machine.

As technology progressed, the use of films and printing sheets gradually came to a halt. This was due to the invention of digital cameras in 1975. However, Kodak dismissed the capabilities of the digital camera and refused to do something about it. Did you know that the inventor of the digital camera, Steven Sasson, was an electrical engineer at Kodak when he developed the technology? When Steven told the bosses at Kodak about his invention, their response was, “That’s cute, but don’t tell anyone about it. That's how you shoot yourself in the foot!"

Kodak ignored digital cameras because the business of films and paper was very profitable at that time and if these items were no longer required for photography, Kodak would be subjected to huge losses and end up closing down the factories which manufactured these items.

The idea was then implemented on a large scale by a Japanese company by the name of ‘Fuji Films’. And soon enough, many other companies started the production and sales of digital cameras, leaving Kodak way behind in the race.

This was Kodak's first mistake. The ignorance of new technology and not adapting to the changing market dynamics initiated Kodak's downfall.

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Biggest Cause Of Kodak's Failure

After the digital camera became popular, Kodak spent almost 10 years arguing with Fuji Films , its biggest competitor, that the process of viewing an image captured by the digital camera was a typical process and people loved the touch and feel of a printed image. Kodak believed that the citizens of the United States of America would always choose it over Fuji Films, a foreign company.

Fuji Films and many other companies focused on gaining a foothold in the photography & videography segment rather than engaging in a verbal spat with Kodak. And once again, Kodak wasted time promoting the use of film cameras instead of emulating its competitors. It completely ignored the feedback from the media and the market . Kodak tried to convince people that film cameras were better than digital cameras and lost 10 valuable years in the process.

Kodak also lost the external funding it had during that time. People also realized that digital photography was way ahead of traditional film photography. It was cheaper than film photography and the image quality was better.

Around that time, a magazine stated that Kodak was being left behind because it was turning a blind spot to new technology. The marketing team at Kodak tried to convince the managers about the change needed in the company's core principles to achieve success. But Kodak's management committee continued to stick with its outdated idea of relying on film cameras and claimed the reporter who said the statement in the magazine did not have the knowledge to back his proposition.

Kodak failed to realize that its strategy which was effective at one point was now depriving it of success. Rapidly changing technology and market needs negated the strategy. Kodak invested its funds in acquiring many small companies, depleting the money it could have used to promote the sales of digital cameras.

When Kodak finally understood and started the sales and the production of digital cameras, it was too late. Many big companies had already established themselves in the market by then and Kodak couldn't keep pace with the big shots.

In the year 2004, Kodak finally announced it would stop the sales of traditional film cameras. This decision made around 15,000 employees (about one-fifth of the company’s workforce at that time) redundant. Before the start of the year 2011, Kodak lost its place on the S&P 500 index which lists the 500 largest companies in the United States on the basis of stock performance. In September 2011, the stock prices of Kodak hit an all-time low of $0.54 per share. The shares lost more than 50% of their value throughout that year.

Kodak's Bankruptcy Protection

By January 2012, Kodak had used up all of its resources and cash reserves. On the 19th of January in 2012, Kodak filed for Chapter 11 bankruptcy protection which resulted in the reorganization of the company. Kodak was provided with $950 million on an 18-month credit facility by the CITI group.

The credit enabled Kodak to continue functioning. To generate more revenue, some sections of Kodak were sold to other companies. Along with this, Kodak decided to stop the production and sales of digital cameras and stepped out of the world of digital photography. It shifted to the sale of camera accessories and the printing of photos.

Kodak had to sell many of its patents, including its digital imaging patents, which amounted to more than $500 million in bankruptcy protection. In September 2013, Kodak announced it had emerged from Chapter 11 bankruptcy protection.

Ressurection of Kodak: Kodak in the mobile industry?

Celebrated camera accessory manufacturers of yesteryear, Kodak, is looking to join Chinese smartphone manufacturing giant Oppo for an upcoming flagship smartphone. This new smartphone is rumored to have 50MP dual cameras, where the cameras of the device will be modeled upon the old classic camera designs of the Kodak models.

The all-new flagship model of Oppo is designed to be a tribute to the classic Kodak camera design. The camera of this Oppo model will allegedly use the Sony IMX766 50MP sensor. Furthermore, the phone will also embed a large sensor in its ultrawide camera as well along with a 13MP telephoto lens and a 3MP microscope camera.

No other information on this matter is currently available as of September 13, 2021.

The collaborations between Android OEMs and camera makers are not something new. Yes, numerous other companies have already come together with other camera manufacturing companies like Nokia, which joined hands with German optics company Carl Zeiss earlier in 2007 to bring in the camera phone Nokia N95. This can be concluded as the first of such collaborations that the smartphone industry has seen. Numerous other collaborations happened eventually, which resulted in outstanding results. OnePlus' partnership with Hasselblad, Huawei pairing up with Leica and the recent news of Samsung's associating with Olympus are some of the significant collaborations to be mentioned.

Kodak had earlier made a leap into the smart TV industry and is ushering in success through this new move. Kodak TV India has already commissioned a plant in Hapur, Uttar Pradesh in August 2020, designed to manufacture affordable Android smart TVs for India. Furthermore, the renowned photography company is looking to invest more than Rs 500 crores during the next 3 years for making a fully automated TV manufacturing plant possible in Hapur. The company committed to this plan as part of its ‘Make in India’ initiative and will leverage its Android certification. Kodak's announcement, as it seemed, was further recharged with the Aatmanirbhar Bharat campaign launched by PM Narendra Modi in the wake of the coronavirus pandemic in 2020.

The TV industry of India imports most of its raw materials and exhibits a value addition of only about 10-12%. However, with the investment that Kodak has promised the company has aimed to increase the value-added to around 50-60%. The Hapur R&D facility will foster the manufacturing of technology-driven products and introduce numerous other lines of manufacturing aligned with the "Make in India" belief.

Super Plastronics Pvt Ltd, a Noida-based company has obtained the license from Kodak Smart TVs to produce and sell their products in India in partnership with the New-York based company and has already launched a range of smart TVs already, as of September 2021 including:

• Kodak 40FHDX7XPRO 40-inch Full HD Smart LED TV
• Kodak 43FHDX7XPRO 43-inch Full HD Smart LED TV
• Kodak 42FHDX7XPRO 42-inch Full HD Smart LED TV
• Kodak 32HDXSMART 32-inch HD ready Smart LED TV

and more. Besides, Kodak HD LED TVs were also up for sale at the lowest prices for 2020, in partnership with Flipkart and Amazon for The Big Billion Days Sale and the Great Indian Sale respectively. This sale, which took place between 16th and 21st October 2020, also included the all-new Android 7XPRO series, which starts at Rs 10999 only and is currently dubbed as the most affordable android tv in India.

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What happened to Kodak?

Kodak was ousted from the market of camera and photography due to numerous missteps. Here are some insights into the same:

• The ignorance of new technology and not adapting to changing market needs initiated Kodak's downfall
• Kodak invested its funds in acquiring many small companies, depleting the money it could have used to promote the sales of digital cameras.
• Kodak wasted time promoting the use of film cameras instead of emulating its competitors. It completely ignored the feedback from the media and the market
• When Kodak finally understood and started the sales and the production of digital cameras, it was too late. Many big companies had already established themselves in the market by then and Kodak couldn't keep pace with the big shots
• In September 2011, the stock prices of Kodak hit an all-time low of $0.54 per share
• Kodak declared bankruptcy in 2012

Why did Kodak fail and what can you learn from its demise?

Kodak failed to understand that its strategy of banking on traditional film cameras (which was effective at one point) was now depriving the company of success. Rapidly changing technology and evolving market needs made the strategy obsolete.

Is Kodak still in Business?

Kodak declared itself bankrupt in 2012. Kodak's bankruptcy resulted in the formation of the Kodak Alaris company, a British organization that part-owns the Kodak brand along with the American Eastman Kodak Company.

When did Kodak go out of business?

Kodak faced its demise in 2012.

Is Kodak a good camera?

Kodak's cameras and accessories were of premium quality and the first of the choices professional photographers and others. The company was a winner in the analogue era of photography. However, the company dived down to hit the rock-bottom level.  

What does Kodak do now?

Currently, Kodak provides packaging, functional printing, graphic communications, and professional services for businesses around the world. Better known for making cameras, Kodak moved into drug making and has secured a $765m (£592m) loan from the US government in 2020.

Why was Kodak so successful?

Kodak adopted the 'razor and blades' business plan. The idea here was to first sell the razors with a small margin of profit. After buying the razor, the customers will have to purchase the consumables (the razor blades in this case) again and again; hence, sell the blades at a high-profit margin. Kodak's plan was to sell cameras at affordable prices with only a small margin for profit and then sell the consumables such as films, printing sheets, and other accessories at a high-profit margin.

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Here’s Why Kodak Failed: It Didn’t Ask The Right Question!

Remember walking past Kodak studios during your childhood? I do! Do you?

Okay if not, we often map it to those pretty (vintage?) cameras, isn’t it? Yes, it’s the Kodak we’ve known all these years.

For almost a hundred years, Kodak has led the photograph business with its innovations. But then why did it fail, being a pioneer in this industry? Is it because it didn’t make a huge push into digital, i.e saw risks of cannibalizing its strong core business?

George Eastman founded the ‘The Eastman Kodak Company’ in 1888. In the 20th century, Kodak was the go-to name when it comes to the world of photography and videography.

It indeed brought about a revolution in the filming industry! At a time when cameras were only available at big companies for recording movies, Kodak enabled the use of cameras in every household by producing cameras that were portable and affordable. Until the 1990s it was regularly rated one of the world’s five most valuable brands.

In the 1980s, the photography industry was beginning to shift towards the digital. A Kodak engineer, Steve Sasson by name, invented the 1st ever digital camera , in 1975! Kodak’s action towards the digital world seemed to be the most logical step.

Deeper Insights On Kodak’s Business Model

Kodak adopted the ‘ razor and blade ’ business model. Kodak sold cameras at much affordable prices with only a small profit margin and then sold the consumable supplies such as films, printing sheets, and other accessories with high-profit margins.

This model refers to the idea that consumers buying razors, will buy blades in a recurring manner. Kodak did benefit from having adopted this model and made huge amounts of revenue.

What did the core business revolve around? The clients would take photos with the Kodak camera and then send it to the Kodak factory where the camera’s film was developed, and photos were printed.

The company’s core product was the film and printing photos, not the camera.

Why could Kodak never become a major player in the evolving industry?

Kodak’s management failed to understand the disruption and ended up becoming a victim to the aftershocks of a disruptive change. Kodak makes a great case for cognitive biases that led the management to take irrational decisions.

Kodak created a digital camera and invested in technology. It even understood that photos would be shared online. The company did, in fact, pursue the digital photography business in a serious way.

In fact, its EasyShare line of cameras were top sellers. It also made big investments in quality printing for digital photos. Long before social media and digital media was popularized, Kodak made a purchase, acquiring a photo-sharing site called Ofoto in 2001. Instead of making Ofoto a pioneer of a new category where people could share pictures, Kodak used Ofoto to try to get more people to print digital images.

Read on to know what led Kodak to declare itself bankrupt in 2012!

Once one of the most powerful companies in the world, today the company has a market capitalization of less than $100Mn. More than 145,000 jobs were lost.

Here’s What Kodak Didn’t Do: It Didn’t Have A Careful Yet Holistic Take!

The management team at Kodak did a commendable job at realizing and thus tapping the full potential of the diverse teams of the enterprise – understanding how they interacted within the architecture of the existing technology then.

However, the research at the Kodak Research Laboratory on digital technology wasn’t appreciated as much. Executives also feared cannibalizing their core film sales and didn’t gear up to make revolutionary changes – although going digital was proving to become the trend then.

Lesson learnt – Adopt agility as an organisational strategy for development.

More than 90% of agile respondents say that their leaders provide actionable strategic guidance; that they have established a shared vision and purpose; and that people in their unit are entrepreneurial (in other words, they proactively identify and pursue opportunities to develop in their daily work)

The concept of organizational agility is catching fire as companies scurry to deal with rapid change and complexity.’ ~ McKinsey&Co 2017

Kodak Failed To Listen To The End Customers

As digital imaging was becoming dominant, Sony and Canon saw an entry and charged ahead with their digital products! Another Japanese firm called Fujifilm adopted this disruptive tech in their product portfolio and tried to diversify it too.

Competitor neglect was also a major reason that led the company to lose its Kodak moment reputation as the best in the business. Kodak’s competitors had far more superior digital cameras. Kodak simply neglected the ability and action of its rivals.

Kodak had bet on their marketing strategy, given it was resistant to the change the reshaping markets that favored the digital front of the industry brought. As Forbes highlights, the essence of marketing is first asking ‘What business are we in?’ and not ‘How do we sell more products?’!

Read: How to Create a Self Sustaining Customer Experience

Kodak did not ask the right question..

‘Its unwillingness to change its large and highly efficient ability to make-and-sell film in the face of developing digital technologies lost it the opportunity to adopt an ‘anticipate-and-lead design’ that could have secured it a leading position in the industry!’

They focused on the product and not the value they provide!

The problem was that, during its 10-year window of opportunity , Kodak did little to prepare for the disruptive revolution that followed. And by the time Kodak released its 1st digital camera in 1991, the market had multiple other major players!

Lesson learned – Companies must adapt to the requirements of the market, even if that means competing with themselves.

Kodak didn’t have an ‘enterprise mindset’

With the executives in the firm changed quite frequently, Kodak couldn’t fix strategies for a digital transformation. Since it meant being open-minded enterprise-wide.

During the years of being resistant to changes, Kodak invested its funds in acquiring numerous small companies. The company’s downfall truly began when Kodak made a late entry to the market with its 1st digital camera in 1991. Since, the drift also meant a massive restructuring of the organization leading to laying off ~ one-fifth of the workforce then.

Read: Top Brand Mantras and Principles of Brand Management

Success today requires the agility and drive to constantly rethink, reinvigorate, react, and reinvent. Bill Gates

Innovation is key. Only those who have the agility to change with the market and innovate quickly will survive. Robert Kiyosaki

Retrospective analysis of Kodak’s Case study

The information had been available, and the decision could have been made in a better way. Despite its strengths—hefty investment in research, a rigorous approach to manufacturing and good relations with its local community—Kodak had become a complacent monopolist. If we look for the logic behind these behaviors, various cognitive bias offers the best explanation.

Pattern recognition Bias

Kodak’s leadership ignored the information about the threat and highlighted the advantages of analog photography. Due to a strong confirmation bias, Kodak decided to be too dependent on their laurels and discounted the potential threat of digital photography.

Stability Bias-

Kodak had employed a lot of chemists and developers which were specialized in the analog field and had huge chemical installations for the development of the films. Kodak was the leading company in analog photography and it had invested tons of resources. Underutilization of those resources was in itself a huge sunk cost bias.

Action-Oriented Bias –

Kodak was under a huge delusion of success of its existing analog business that it missed the rise of new digital technologies. It was overconfident and over-optimistic about their own abilities.

Kodak Moments

Although film and cameras are far more sophisticated and versatile today, the fundamental principles behind Kodak’s inventions have not changed.

Kodak eventually managed to recover from bankruptcy and remains manufacturing film, with a focus on independent filmmakers . 

Kodak didn’t last as it could’ve, but a Kodak moment certainly will. After all, we users owe it to the pioneers of the industry!

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The Real Lessons From Kodak’s Decline

Eastman Kodak is often mischaracterized as a company whose managers didn’t recognize soon enough that digital technology would decimate its traditional business. However, what really happened at Kodak is much more complicated — and instructive.

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Eastman Kodak Co. is often cited as an iconic example of a company that failed to grasp the significance of a technological transition that threatened its business. After decades of being an undisputed world leader in film photography, Kodak built the first digital camera back in 1975. But then, the story goes, the company couldn’t see the fundamental shift (in its particular case, from analog to digital technology) that was happening right under its nose.

The big problem with this version of events is that it’s wrong. Moreover, it obscures some important lessons that other companies can learn from. To begin with, senior leaders at Kodak were acutely aware of the approaching storm. I know because I arrived at Kodak from Silicon Valley in mid-1997, just as digital photography was taking off. Management was constantly tracking the rate at which digital media was replacing film. But several factors made it exceedingly difficult for Kodak to shift gears and emerge with a consumer franchise that would be sustainable over the long term. Not only was a major technological change upending our competitive landscape; challenges were also affecting the ecosystem we operated in and our organizational model. Ultimately, refocusing the business with so many forces in motion proved to be impossible.

A Difficult Technology Transition

Kodak’s first challenge had to do with technology. Over the course of more than a century, Kodak and a small number of its competitors had developed and refined manufacturing processes that enabled consumers to capture and preserve images for a lifetime. Color film was an extremely complex product to manufacture. The 60-inch “wide rolls” of plastic base material had to be coated with as many as 24 layers of sophisticated chemicals: photosensitizers, dyes, couplers, and other materials deposited at precise thicknesses while traveling at 300 feet per minute. Wide rolls had to be changed over and spliced continuously in real time; the coated film had to be cut to size and packaged — all in the dark. With film, the entry barriers were high. Only two competitors — Fujifilm and Agfa-Gevaert — had enough expertise and production scale to challenge Kodak seriously.

The transition from analog to digital imaging brought several challenges. First, digital imaging was based on a general-purpose semiconductor technology platform that had nothing to do with film manufacturing — it had its own scale and learning curves.

About the Author

Willy Shih is the Robert and Jane Cizik Professor of Management Practice in Business Administration at Harvard Business School. From 1997 to 2003 he was a senior vice president at Eastman Kodak Co. and served as president of the company’s consumer digital business.

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Craig mcgowan, stephen waybright, giovanbattista testolin, karl schubert, arthur weiss, julian koor, victor yodaiken, john krienke, jeffrey hardy, butch cunnings, charles h. green.

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Kodak: The Rebirth of an Iconic Brand

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• | Pages: 20

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• Kodak: The Rebirth of an Iconic Brand  By: Anat Keinan, Giana M. Eckhart and Michael Beverland

The Innovator’s Dilemma: Lessons from Kodak

By: Johannes Gottschall

I guess everyone knows the tragic story of the EastmanKodak Company: founded in the 19th century, dominating the photographic film market during most of the 20th century and finally collapsing into bankruptcy in the early 21st century, shaken by a new technology they had once decisively initiated.

Now here comes the interesting thing. You might say, Kodak’s management was just unable to identify digital photography as a disruptive technology or “the next big thing,” which—with no doubt—was certainly the case for a while, but this is just too easy. The look behind the curtain to understand why Kodak stayed in denial for so long leads to a situation, which Clayton Christensen already described in 1997 as “innovator’s dilemma.”

We should challenge the common interpretation that the top dogs and market leaders fail to recognize and identify new trends, are not willing to embrace them, not ready to reorganize, not able to develop new ideas.

‘Cause this is plain wrong.

The world is full of examples and evidences that the incumbents are the ones adopting to new trends, developing new technology and bringing it to the market.

The problem is that they fail to evaluate the innovation’s value—to comprehend the true revolutionary core of the innovations and trying to adapt to the existing instead of creating something new.

And: innovations are weak, immature, without optimized cost-model and probable not fitting in existing market—and customer structures. (You can refer to the wide-known technology lifecycle, known as “S”-curve).

In fact, the problem is that managers do what they have to do in a successful enterprise: Keeping the KPIs in focus, evaluating ROI, optimizing performance and quality.

Clayton Christensen described it like this:

“The reason [for why great companies failed] is that good management itself was the root cause. Managers played the game the way it’s supposed to be played. The very decision-making and resource allocation processes that are key to the success of established companies are the very processes that reject disruptive technologies: listening to customers; tracking competitors actions carefully; and investing resources to design and build higher-performance, higher-quality products that will yield greater profit. These are the reasons why great firms stumbled or failed when confronted with disruptive technology change.”(1)

Doug McMillon, CEO of Walmart, identified this as one of the main hurdles on dealing with ecommerce in his company: “We hire talent, invested, and just kind of meandered along rather than hammering down, being aggressive, and making it a must-win aspect of our business. That’s partly because we had a bird in hand.” (HBR, 3/2017)

The question for the companies’ leader is if innovations and new technology are capable enough to generate significant turnover in the long-term and if so, shall they also cannibalizing themselves while investing money in a competing technology. The innovator’s dilemma.

George Eastman, the founder of Kodak, faced this dilemma already two times. He shifted from a profitable dry-plate business to film and pushed investments in color film even though the quality was inferior to the Kodak-dominated black-and-white film. So it seemed change was in the company’s genes, but let’s jump back into Kodak’s struggle with digital photography.

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Vincent Barabba, former head of market intelligence at Kodak, describes in his book Decision Loom how a study in the early 1980s (conducted with the support of Kodak’s CEO due to the launch of Sony’s first electronic camera in 1981) clearly pointed out the impact of digital photography and projected the upcoming changes and developments.(2)

So everyone was aware, but unlike George Eastman, the management at that time was not preparing for the new world of digital photography; they rather tried to adapt the new technology to Kodak’s existing product portfolio. So Kodak started to use the digital for quality improvements of film as they were so deeply involved in the photo film, chemical and paper business.(3)

The management of Kodak presided over the development of technological cornerstones but was also equipped with accurate market analysis. But it simply took the wrong choices.

This is what we shall take with us. We have to be clear either we only want to improve and optimize the current status, our current products and services or we want to transform. This is a cultural, a mindset question which become recognizable in the product development.

It might be hard, but we need to release ourselves from the never-ending optimization circle, not because optimization is per se a wrong approach; however, we need to consider that this is not always the best way and especially when it comes to transformation, it is more than dangerous because optimization limits us to an existing frame and solution set.

And it might be also against our DNA, but “best-practice exchanges” or “Continuous Improvement Process” can also block a required transformation if they are not taken place within a digital agenda, if simple and imaginable approaches dominating the revolutionary ones, if pragmatism blocks visionaries.

So visions often dominating the slides but behind we are tempting to trust the known paths. Transformation cannot happen “alongside;” this simply won’t work.

Hence transformation is always a risk or, just to say, “a dilemma.”

By Johannes Gottschall

About the author

He comprehends innovation as radical, valuable and an elemental cornerstone in times of digital disruption.

Johannes is equipped with a diploma in Business Informatics and has several years of experience in managing innovation, information and change throughout the world.

1 Clayton Christensen: The Innovator’s Dilemma: When New Technologies Cause Great Firms to Fail ² Vincent Barabba: The Decision Loom: A design or interactive decision-making in organizations ³ Also the fact that the Kodak labs invented the first mega-pixel camera in 1986 (as predicted in Barabba’s study) didn’t lead to a strategy change and it culminated in the introduction of the Advantix film and camera system in 1996. Beside others the photographer was now able to preview the shots and define the size of the picture. This was possible as Advantix was a digital camera system. However you still had to use film and paper. Conceivable the whole system flopped and Kodak wrote off 0,5 bilion development cost.

Featured image via Yayimages .

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Case Study: Kodak’s Downfall—A Lesson in Failed Digital Transformation and Missed Opportunities

The context: an iconic brand meets digital disruption.

Eastman Kodak, commonly known as Kodak, was once the undisputed leader in the photography industry, boasting a market capitalization of $31 billion at its peak in 1997. However, by 2012, Kodak had filed for bankruptcy, a staggering descent that is often cited as a cautionary tale in the annals of business history. So, what went wrong? How did a company that held 90% of the U.S. film market and 85% of the camera market in 1976 end up in bankruptcy?

The Dilemmas

1. complacency and over-reliance on legacy business models.

Kodak was heavily invested in the film-based photography market. The company’s complacency in sticking to its legacy business model, despite the seismic changes in technology, was its first major mistake. Film processing was a cash cow, and there was a reluctance to explore or transition to emerging technologies for fear of cannibalizing the existing business.

2. Ignoring Technological Innovations

Ironically, Kodak was one of the pioneers in digital photography and invented the first digital camera in 1975. Yet, they did not capitalize on this innovation. This was largely because they perceived digital photography as a threat to their film business. Their failure to adapt to and invest in the new technology would cost them dearly.

3. Misjudging Market Trends and Customer Needs

The management wrongly assumed that the transition from film to digital would be slow. They underestimated how quickly consumers would adopt digital cameras and later, smartphones. Kodak’s inability to read the market and customer needs accurately further exacerbated their downfall.

The Aftermath: The Costs of Inaction

By the time Kodak realized the significance of digital photography, it was too late. Other companies like Canon, Sony, and later tech giants like Apple and Google, had already captured significant market share. In 2012, Kodak filed for Chapter 11 bankruptcy and later emerged as a company focusing on digital imaging for businesses, a far cry from its glorious past.

The Data and Statistics

Kodak timeline.

• 1888: George Eastman patents the first roll-film camera and registers the trademark “Kodak.”
• 1900: Eastman introduces the Brownie camera, making photography accessible to the masses.
• 1935: Kodachrome film is launched, becoming the standard for color photography.
• 1962: Kodak introduces the Instamatic camera, popularizing point-and-shoot photography.
• 1975: Kodak engineer Steve Sasson invents the first digital camera prototype.
• 1984: Kodak launches the Photo CD system, allowing digital storage of photos.
• 1990: Kodak’s market share for photographic film peaks at over 80%.
• 1994: Kodak enters the digital camera market, but faces competition from industry newcomers.
• 1997: Kodak’s market capitalization reaches $31 billion.
• 2003: Kodak announces a major restructuring and begins shifting focus to digital technologies.
• 2012: Kodak files for bankruptcy, citing a failure to adapt to the digital age.
• 2013: Kodak emerges from bankruptcy as a restructured company focused on commercial printing.
• 2019: Kodak launches a blockchain cryptocurrency platform for photographers called KODAKCoin.
• Present: Kodak continues to innovate in various imaging and printing technologies, aiming to regain its prominence in the industry.

This timeline captures the major milestones and challenges faced by Kodak throughout its history.

What Could Have Been Done Differently?

• Scenario Planning : Kodak could have considered various future states of technology and the market to identify opportunities and threats better.
• Agile Methodologies : An agile approach to strategy and product development could have made the organization more responsive to change.
• Horizon Planning : A long-term strategy incorporating emerging technologies could have diversified their revenue streams and reduced their dependency on the film business.
• Prioritization : Resource allocation could have been better managed to focus on digital technologies, a future growth area.

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The Missed Goldmine: Kodak’s Untapped Digital Patents

One of the most perplexing aspects of Kodak’s downfall is the vast portfolio of digital patents the company held. Kodak was a pioneer in many digital imaging technologies and had over 1,000 patents related to digital cameras, image processing, and various other digital imaging technologies. This arsenal of intellectual property could have been a significant game-changer, positioning Kodak as a dominant player in the digital era. However, Kodak failed to leverage these assets effectively. While some of these patents were eventually sold for $527 million during the bankruptcy proceedings in 2012, the revenue pales in comparison to what could have been earned through strategic application or licensing agreements (Source: Reuters). Kodak’s failure to capitalize on its rich patent portfolio demonstrates a glaring missed opportunity and adds another layer to the tragedy of its downfall. These patents could have been the stepping stones to transition smoothly from a film-based photography company to a digital imaging powerhouse, if only the right strategies and focus were in place.

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Lessons for Other Organizations: Unpacking the Kodak Tragedy for Modern-Day Strategic Insights

The collapse of Kodak wasn’t just a loss for the company and its employees; it serves as a case study loaded with lessons for other organizations. The corporate world today, more than ever, requires companies to adapt swiftly to emerging technologies and market changes. Here are some key takeaways that could guide other companies in averting a similar fate:

Avoid Complacency

Kodak dominated the film photography industry for years, which likely contributed to an organizational culture of complacency. No matter how successful a business is today, tomorrow’s landscape could be entirely different. Continuous innovation and an ever-curious mindset are vital for long-term sustainability.

Harness Your Intellectual Property

Kodak’s patent portfolio was a goldmine that was not effectively utilized. Intellectual property can provide a competitive edge and open up new avenues for revenue through licensing or forming strategic partnerships. Evaluate your IP assets and think strategically about how to leverage them for future growth.

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Prioritize Adaptability

Kodak’s downfall illustrates the importance of adaptability. Employing frameworks like Agile and Horizon Planning can help a company remain flexible and responsive to market needs, ensuring that you’re not only reacting to changes but also anticipating them.

Stakeholder Involvement is Crucial

Kodak’s transition to the digital age was not a smooth one, partly because of resistance from various stakeholders who were invested in the existing film business. Ensure that all stakeholders are aligned with the company’s vision and strategy, and consider using a neutral facilitator to guide strategy meetings effectively.

Keep Your Roadmaps Dynamic

Technology and strategy roadmaps should not be static documents but should evolve with the industry landscape and internal capabilities. Regular updates and revisions keep the roadmap relevant and actionable, allowing for real-time adjustments to market changes.

Financial Prudence

In an era of rapid changes, conserving resources for future investments in innovation and strategic shifts is crucial. Kodak’s lack of financial prudence when the tides were turning led to a situation where they had fewer options when they finally decided to pivot.

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A Glimmer of Hope: Kodak’s Pivot to Blockchain and Continued Innovation

Even the most harrowing tales of downfall can have a silver lining, and in the case of Kodak, it’s their foray into blockchain technology and ongoing endeavors in imaging and printing technologies. These initiatives not only showcase the brand’s resilience but also provide valuable lessons on how to stage a comeback in the digital age.

KODAKCoin: A Step Towards Decentralization

In 2019, Kodak surprised the tech world by launching KODAKCoin, a blockchain cryptocurrency platform designed for photographers. This innovative move aimed to address issues around image rights and royalties, providing photographers with a secure and transparent platform to manage their intellectual property. With KODAKCoin, Kodak showed its willingness to explore frontier technologies, reflecting a newfound openness to adapt and innovate.

A Commitment to Imaging and Printing Technologies

Kodak has also continued its efforts to innovate in its core areas—imaging and printing technologies. Leveraging its historical strengths, the company is investing in new product lines and partnerships, aiming to re-establish itself as a leader in the industry. While the road to recovery is long, these actions signal a directional shift in Kodak’s strategy, focusing on modernization and value creation.

CDO TIMES Bottom Line Summary

The fall of Kodak serves as a cautionary tale that outlines the importance of adaptability, strategic planning, and stakeholder alignment in today’s volatile business environment. Organizations aiming to avoid a similar fate should consider adopting modern planning frameworks like Agile and Horizon Planning, stay open to revising their technology roadmaps, and leverage intellectual property assets strategically. These lessons are not just theoretical but actionable guidelines that could determine an organization’s survival in the fast-evolving corporate landscape.

Kodak’s pivot towards blockchain with KODAKCoin and its ongoing efforts in imaging and printing technologies show a company striving to reinvent itself. While it’s too early to predict if these steps will fully restore Kodak’s former glory, they do offer a glimmer of hope and a wealth of insights for other companies seeking to pivot or modernize. The lesson here is clear: innovation and adaptability remain at the core of corporate sustainability. For organizations looking to master these qualities, subscribing to CDO TIMES’ unlimited access membership offers an in-depth analysis of successful strategies, emerging technologies, and case studies, arming you with the knowledge you need to stay ahead of the curve.

Love this article? Embrace the full potential and become an esteemed full access member, experiencing the exhilaration of unlimited access to captivating articles, exclusive non-public content, empowering hands-on guides, and transformative training material. Unleash your true potential today!

In this context, the expertise of CDO TIMES becomes indispensable for organizations striving to stay ahead in the digital transformation journey. Here are some compelling reasons to engage their experts:

• Deep Expertise : CDO TIMES has a team of experts with deep expertise in the field of Digital, Data and AI and its integration into business processes. This knowledge ensures that your organization can leverage digital and AI in the most optimal and innovative ways.
• Strategic Insight : Not only can the CDO TIMES team help develop a Digital & AI strategy, but they can also provide insights into how this strategy fits into your overall business model and objectives. They understand that every business is unique, and so should be its Digital & AI strategy.
• Future-Proofing : With CDO TIMES, organizations can ensure they are future-proofed against rapid technological changes. Their experts stay abreast of the latest AI advancements and can guide your organization to adapt and evolve as the technology does.
• Risk Management : Implementing a Digital & AI strategy is not without its risks. The CDO TIMES can help identify potential pitfalls and develop mitigation strategies, helping you avoid costly mistakes and ensuring a smooth transition.
• Competitive Advantage : Finally, by hiring CDO TIMES experts, you are investing in a competitive advantage. Their expertise can help you speed up your innovation processes, bring products to market faster, and stay ahead of your competitors.

By employing the expertise of CDO TIMES, organizations can navigate the complexities of digital innovation with greater confidence and foresight, setting themselves up for success in the rapidly evolving digital economy. The future is digital, and with CDO TIMES, you’ll be well-equipped to lead in this new frontier.

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As the CDO of The CDO TIMES I am dedicated delivering actionable insights to our readers, explore current and future trends that are relevant to leaders and organizations undertaking digital transformation efforts. Besides writing about these topics we also help organizations make sense of all of the puzzle pieces and deliver actionable roadmaps and capabilities to stay future proof leveraging technology. Contact us at: [email protected] to get in touch.

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Kodak: The Rebirth of an Iconic Brand

By: Anat Keinan, Michael Beverland, Giana M. Eckhardt

Following its re-emergence from bankruptcy protection in 2014, the marketing team at Kodak has been charged with tripling brand value with consumers, with little marketing budget. The case focuses on…

• Length: 20 page(s)
• Publication Date: Dec 5, 2018
• Discipline: Marketing
• Product #: 519051-PDF-ENG

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Following its re-emergence from bankruptcy protection in 2014, the marketing team at Kodak has been charged with tripling brand value with consumers, with little marketing budget. The case focuses on the strategies used by senior Kodak marketers Steven Overman and Dany Atkins to leverage the brand's heritage for innovation and creativity with existing and new audiences. With few resources other than heritage, Overman and Atkins have focused on making Kodak 'cool' through partnerships with a range of brands targeting younger users while also reinforcing the brand's historic links with the motion picture industry and benefitting from the so-called 'analog revival'. The case explores issues of cultural branding, focusing on how relevance can be built through connections to crowd cultures, communities and other brands to build a platform for growth and revitalization.

Learning Objectives

Leveraging a brand's heritage to build cultural relevance through partnerships with other brands, influencers, and consumer communities.

Dec 5, 2018

Discipline:

Harvard Business School

519051-PDF-ENG

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Kodak and the Brutal Difficulty of Transformation

• Scott D. Anthony

2012 has not gotten off to a great start for Eastman Kodak. Three of the company’s directors quit near the end of last year, and word recently emerged that the company was on the brink of filing for Chapter 11 bankruptcy protection. The easy narrative is that Kodak is a classic case of a company […]

2012 has not gotten off to a great start for Eastman Kodak. Three of the company’s directors quit near the end of last year, and word recently emerged that the company was on the brink of filing for Chapter 11 bankruptcy protection.

• Scott D. Anthony is a clinical professor at Dartmouth College’s Tuck School of Business, a senior partner at Innosight , and the lead author of Eat, Sleep, Innovate (2020) and Dual Transformation (2017). ScottDAnthony

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The Kodak Comeback - A Case Study

By ritobroto mukherjee.

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About Kodak: 

The Eastman Kodak Company (referred to simply as Kodak ) is an American technology company that produces imaging products with its historic basis on photography. The company is headquartered in Rochester, New York and is incorporated in New Jersey. Kodak provides packaging, functional printing, graphic communications and professional services for businesses around the world. Its main business segments are Print Systems, Enterprise Inkjet Systems, Micro 3D Printing and Packaging, Software and Solutions, and Consumer and Film. It is best known for photographic film products.

Kodak was founded by George Eastman and Henry A. Strong on September 4, 1888. During most of the 20th century, Kodak held a dominant position in photographic film. The company's ubiquity was such that its "Kodak moment" tagline entered the common lexicon to describe a personal event that was demanded to be recorded for posterity. Kodak began to struggle financially in the late 1990s, as a result of the decline in sales of photographic film and its slowness in transitioning to digital photography. As a part of a turnaround strategy, Kodak began to focus on digital photography and digital printing, and attempted to generate revenues through aggressive patent litigation.

In January 2012, Kodak filed for  Chapter 11  bankruptcy protection in the United States District Court for the Southern District of New York. In February 2012, Kodak announced that it would stop making digital cameras, pocket video cameras and digital picture frames and focus on the corporate digital imaging market. In August 2012, Kodak announced its intention to sell its photographic film, commercial scanners and kiosk operations, as a measure to emerge from bankruptcy, but not its motion picture film operations. In January 2013, the Court approved financing for Kodak to emerge from bankruptcy by mid 2013.

Kodak sold many of its patents for approximately $525,000,000 to a group of companies (including Apple, Google, Facebook, Amazon, Microsoft, Samsung, Adobe Systems and HTC) under the names Intellectual Ventures and RPX Corporation.

On September 3, 2013, the company emerged from bankruptcy having shed its large legacy liabilities and exited several businesses. Personalised Imaging and Document Imaging are now part of Kodak Alaris, a separate company owned by the UK-based Kodak Pension Plan. On March 12, 2014, it announced that the board of directors had elected Jeffrey J. Clarke as chief executive officer and a member of its board of director.

*List of products by Kodak is given in Exhibit 1

The downfall of Kodak:

There are few corporate blunders as staggering as Kodak’s missed opportunities in digital photography, a technology that it invented. This strategic failure was the direct cause of Kodak’s decades-long decline as digital photography destroyed its film-based business model.

A new book by my Devil’s Advocate Group colleague, Vince Barabba, a former Kodak executive, offers insight on the choices that set Kodak on the path to bankruptcy. Barabba’s book, “The Decision Loom: A Design for Interactive Decision-Making in Organisations,” also offers sage advice for how other organisations grappling with disruptive technologies might avoid their own Kodak moments.

Steve Sasson, the Kodak engineer who invented the first digital camera in 1975, characterised the initial corporate response to his invention this way:

But it was filmless photography, so management’s reaction was, ‘that’s cute—but don’t tell anyone about it.’ [ via The New York Times (5/2/2008) ]

Kodak management’s inability to see digital photography as a disruptive technology, even as its researchers extended the boundaries of the technology, would continue for decades. As late as 2007, a Kodak marketing video felt the need to trumpet that “Kodak is back “ and that Kodak “wasn’t going to play grab ass anymore” with digital.

To understand how Kodak could stay in denial for so long, let me go back to a story that Vince Barabba recounts from 1981, when he was Kodak’s head of market intelligence. Around the time that Sony introduced the first electronic camera, one of Kodak’s largest retailer photo finishers asked him whether they should be concerned about digital photography. With the support of Kodak’s CEO, Barabba conducted a very extensive research effort that looked at the core technologies and likely adoption curves around silver halide film versus digital photography.

The results of the study produced both “bad” and “good” news. The “bad” news was that digital photography had the potential capability to replace Kodak’s established film based business. The “good” news was that it would take some time for that to occur and that Kodak had roughly ten years to prepare for the transition.

The study’s projections were based on numerous factors, including: the cost of digital photography equipment; the quality of images and prints; and the interoperability of various components, such as cameras, displays, and printers. All pointed to the conclusion that adoption of digital photography would be minimal and non-threatening for a time. History proved the study’s conclusions to be remarkably accurate, both in the short and long term.

The problem is that, during its 10-year window of opportunity, Kodak did little to prepare for the later disruption. In fact, Kodak made exactly the mistake that George Eastman, its founder, avoided twice before, when he gave up a profitable dry-plate business to move to film and when he invested in colour film even though it was demonstrably inferior to black and white film (which Kodak dominated).

The Comeback of Kodak: 

Returning to the Consumer Electronics Show (CES) for the first time in three years, Kodak came to the show with a roster of licensing partners who are bringing its iconic logo to some unexpected places, from a baby monitor (a CES Innovation Awards honoree) to the brand’s first smartphone. This is just one year after emerging from bankruptcy.

Brandchannel caught up with Steven Overman, Kodak’s Global Chief Marketing Officer (since Oct. 1st) and President of its Consumer and Film Division, during the CES fray to find out more about the comeback strategy—and also some insights into his new book, The Conscience Economy, about why and how brands must embrace corporate citizenship.

• Kodak in 2016 came into consumer electronics such as Television, Mobile accessories, Different types of cameras, LED Lighting, Home monitoring system, etc.
• They also introduced Eyeware division
• Being a pioneer in manufacturing printing machines and accessories, it continues to produce printing accessories.

*New product details of Kodak is given in Exhibit 2

Strategic Decisions by Kodak to Re-Build its Brand Image: 

Diversification into Consumer Electronics: This strategic decision will help the company to gain volume in sales as well as get into various markets. Also, the company is looking forward to finding the right product type or category which the consumer is likely to see Kodak into.

Trying out technological innovation and using online platforms like Flipkart: Kodak very recently came up with its very first smartphone “KODAK EKTRA”, which is a crossover between digital camera and smartphone. Having Android as its operating system and a really upgraded camera system inbuilt, the product is one of its kind to the market.

It is also exclusively available on Flipkart, a strategy taken by most of the smartphone makers, due to the havoc dependence on Online app based sales in the last 2 years.

Kodak is trying to replicate the online selling model followed by all the brands by using an aggressive promotion strategy. Usage of #OnlyOnFlipkart  is also a mode to increase the brand reach.

Retaining some of its iconic designs in camera: Kodak in its Gen-X camera’s, is providing with all the technological advancements that its competitors are giving, but, to create a point of difference, it has kept some of the camera model’s look similar to that of its iconic manual point and shoot cameras of the early 1990’s. This strategy will help Kodak establish its originality and heritage (Similar to the strategy followed by Rolls Royce)

Not just smartphones, Kodak is depending heavily on App based online shopping with its newly launched Smart TV’s being promoted aggressively online. It is also promoting its mobile accessories segment which provides a wide range of products such as Portable speakers, Power Banks, etc.

January 2017 , Kodak announced it was bringing back its Ektachrome film: Maybe this is a decision on a strategic level to restore the essence of heritage in the company.

Conclusion: 

Since Kodak faced a huge setback in recent years, it is expected to take some years to re-build its brand image, step by step. But with the aggressive strategic decisions the company is taking, it would hopefully capture some markets by the end of 2017.

Kodak had faced difficulties in adapting to the huge technological advancements, which went against them and led them to a massive damage. But this time, the company is back with its newer technologies, and they are trying to portray themselves at par with all its competitors.

Penetrating to the Cameras and Accessories market is difficult for Kodak due to the huge dominance by Nikon and Canon, hence, the companies main strategy is to establish its consumer electronics business.

We can hope to see Kodak emerge with newer strategies to re-launch itself as the pioneer camera makers of the world, and re-gain its market position.

Exhibit 1: 

Former list of products by Kodak: 

Still film cameras

Instant cameras

Image sensors

Digital cameras and camcorders

Digital picture frames

Kodak gallery

Document imaging

Film and photographic paper

Photo Kiosks

Later list of products & services by Kodak: 

Digital printing and enterprise

Flexo-printing

Functional printing

Enterprise professional services

Digital printing solutions

Consumer ink-jet cartridges

Graphics, Entertainment and Commercial Films(GECF):

Global technical services

Entertainment and imaging commercial films

Motion pictures and tv production

The current product range offered by Kodak: (Attached)

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Pranav Singh

Great insight to the overall story of Kodak.. May the company again come to the fore and be the leader in tech disruption :)... Thanks a ton Rotibroto

24 Jul 2017, 04.33 PM

+Read Replies (2)

Ritobroto Mukherjee

The author of this article is Mr. Ritobroto Mukherjee, who is currently pursuing MBA in marketing from IMI Kolkata. He is also the head of Cultural Committee at IMI Kolkata, done his internship from Future Retail Ltd. in Sales and Marketing. He is a music enthusiast, and has been part of various inter and intra college events.

Thank you for your valuable comment.. (my name is ritobroto)

24 Jul 2017, 09.28 PM |

Thanks a lot for your valuable comment.. and my name is ritobroto

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The Reinvention Of Kodak Case Study Solution Analysis

by HBR Five

The Reinvention Of Kodak Case Study Solution & Analysis. Get The Reinvention Of Kodak Case Study Analysis & Solution. Contact us directly at buycasesolutions(at)gmail(dot)com if you want to order for The Reinvention Of Kodak Case Solution, Case Analysis,... More

The Reinvention Of Kodak Case Study Solution & Analysis. Get The Reinvention Of Kodak Case Study Analysis & Solution. Contact us directly at buycasesolutions(at)gmail(dot)com if you want to order for The Reinvention Of Kodak Case Solution, Case Analysis, Case Study Solution. Ryan L. Raffaelli, Christine Snively Less

Email us for Any Case Solution at: [email protected] The Reinvention of Kodak Case Study Solution & Analysis The Reinvention of Kodak Case Study Solution & Analysis. Our tutors are available 24/7 to assist in your academic stuff, Our Professional writers are ready to serve you in services you need. Every Case Study Solution & Analysis is prepared from scratch, top quality, plagiarism free. Authors: Ryan L. Raffaelli, Christine Snively Get Case Study Solution and Analysis of The Reinvention of Kodak in a FAIR PRICE!! Steps for Case Study Solution & Analysis: 1. Introduction of The Reinvention of Kodak Case Solution The The Reinvention of Kodak case study is a Harvard Business Review case study, which presents a simulated practical experience to the reader allowing them to learn about real life problems in the business world. The The Reinvention of Kodak case consisted of a central issue to the organization, which had to be identified, analysed and creative solutions had to be drawn to tackle the issue. This paper presents the solved The Reinvention of Kodak case analysis and case solution. The method through which the analysis is done is mentioned, followed by the relevant tools used in finding the solution. The case solution first identifies the central issue to the The Reinvention of Kodak case study, and the relevant stakeholders affected by this issue. This is known as the problem identification stage. After this, the relevant tools and models are used, which help in the case study analysis and case study solution. The tools used in identifying the solution consist of the SWOT Analysis, Porter Five Forces Analysis, PESTEL Analysis, VRIO analysis, Value Chain Analysis, BCG Matrix analysis, Ansoff Matrix analysis, and the Marketing Mix analysis. The solution consists of recommended strategies to overcome this central issue. It is a good idea to also propose alternative case study solutions, because if the main solution is not found feasible, then the alternative solutions could be implemented. Lastly, a good case study solution also includes an implementation plan for the recommendation strategies. This shows how through a step-by-step procedure as to how the central issue can be resolved. Email us for Any Case Solution at: [email protected] Note: This Article is only for format and is not related to case study. If you want original case solution, please place your order on the Email.

Email us for Any Case Solution at: [email protected] 2. Problem Identification of The Reinvention of Kodak Case Solution Harvard Business Review cases involve a central problem that is being faced by the organization and these problems affect a number of stakeholders. In the problem identification stage, the problem faced by The Reinvention of Kodak is identified through reading of the case. This could be mentioned at the start of the reading, the middle or the end. At times in a case analysis, the problem may be clearly evident in the reading of the HBR case. At other times, finding the issue is the job of the person analysing the case. It is also important to understand what stakeholders are affected by the problem and how. The goals of the stakeholders and are the organization are also identified to ensure that the case study analysis are consistent with these. 3. Analysis of the The Reinvention of Kodak HBR Case Study The objective of the case should be focused on. This is doing the The Reinvention of Kodak Case Solution. This analysis can be proceeded in a step-by-step procedure to ensure that effective solutions are found. In the first step, a growth path of the company can be formulated that lays down its vision, mission and strategic aims. These can usually be developed using the company history is provided in the case. Company history is helpful in a Business Case study as it helps one understand what the scope of the solutions will be for the case study. The next step is of understanding the company; its people, their priorities and the overall culture. This can be done by using company history. It can also be done by looking at anecdotal instances of managers or employees that are usually included in an HBR case study description to give the reader a real feel of the situation. Lastly, a timeline of the issues and events in the case needs to be made. Arranging events in a timeline allows one to predict the next few events that are likely to take place. It also helps one in developing the case study solutions. The timeline also helps in understanding the continuous challenges that are being faced by the organisation. 4. SWOT analysis of The Reinvention of Kodak An important tool that helps in addressing the central issue of the case and coming up with The Reinvention of Kodak HBR case solution is the SWOT analysis. The SWOT analysis is a strategic management tool that lists down in the form of a matrix, an organisation's internal strengths and weaknesses, and external opportunities and threats. It helps in the strategic analysis of The Reinvention of Kodak Email us for Any Case Solution at: [email protected] Note: This Article is only for format and is not related to case study. If you want original case solution, please place your order on the Email.

Email us for Any Case Solution at: [email protected] Once this listing has been done, a clearer picture can be developed in regards to how strategies will be formed to address the main problem. For example, strengths will be used as an advantage in solving the issue. Therefore, the SWOT analysis is a helpful tool in coming up with the The Reinvention of Kodak Case Study answers. One does not need to remain restricted to using the traditional SWOT analysis, but the advanced TOWS matrix or weighted average SWOT analysis can also be used. 5. Porter Five Forces Analysis for The Reinvention of Kodak Another helpful tool in finding the case solutions is of Porter's Five Forces analysis. This is also a strategic tool that is used to analyse the competitive environment of the industry in which The Reinvention of Kodak operates in. Analysis of the industry is important as businesses do not work in isolation in real life, but are affected by the business environment of the industry that they operate in. Harvard Business case studies represent real-life situations, and therefore, an analysis of the industry's competitive environment needs to be carried out to come up with more holistic case study solutions. In Porter's Five Forces analysis, the industry is analysed along 5 dimensions. • These are the threats that the industry faces due to new entrants. • It includes the threat of substitute products. • It includes the bargaining power of buyers in the industry. • It includes the bargaining power of suppliers in an industry. • Lastly, the overall rivalry or competition within the industry is analysed This tool helps one understand the relative powers of the major players in the industry and its overall competitive dynamics. Actionable and practical solutions can then be developed by keeping these factors into perspective. 6. PESTEL Analysis of The Reinvention of Kodak Another helpful tool that should be used in finding the case study solutions is the PESTEL analysis. This also looks at the external business environment of the organisation helps in finding case study Analysis to real-life business issues as in HBR cases. • The PESTEL analysis particularly looks at the macro environmental factors that affect the industry. These are the political, environmental, social, technological, environmental and legal (regulatory) factors affecting the industry. • Factors within each of these 6 should be listed down, and analysis should be made as to how these affect the organisation under question. 7. VRIO Analysis of The Reinvention of Kodak Email us for Any Case Solution at: [email protected] Note: This Article is only for format and is not related to case study. If you want original case solution, please place your order on the Email.

Email us for Any Case Solution at: [email protected] This is an analysis carried out to know about the internal strengths and capabilities of The Reinvention of Kodak . Under the VRIO analysis, the following steps are carried out: • The internal resources of The Reinvention of Kodak are listed down. • Each of these resources are assessed in terms of the value it brings to the organization. • Each resource is assessed in terms of how rare it is. A rare resource is one that is not commonly used by competitors. • Each resource is assessed whether it could be imitated by competition easily or not. • Lastly, each resource is assessed in terms of whether the organization can use it to an advantage or not. • The analysis done on the 4 dimensions; Value, Rareness, Imitability, and Organization. If a resource is high on all of these 4, then it brings long-term competitive advantage. If a resource is high on Value, Rareness, and Imitability, then it brings an unused competitive advantage. If a resource is high on Value and Rareness, then it only brings temporary competitive advantage. If a resource is only valuable, then it’s a competitive parity. If it’s none, then it can be regarded as a competitive disadvantage. 8. Value Chain Analysis of The Reinvention of Kodak The Value chain analysis of The Reinvention of Kodak helps in identifying the activities of an organization, and how these add value in terms of cost reduction and differentiation. This tool is used in the case study analysis as follows: • The firm’s primary and support activities are listed down. • Identifying the importance of these activities in the cost of the product and the differentiation they produce. • Lastly, differentiation or cost reduction strategies are to be used for each of these activities to increase the overall value provided by these activities. Recognizing value creating activities and enhancing the value that they create allow The Reinvention of Kodak to increase its competitive advantage. 9. BCG Matrix of The Reinvention of Kodak The BCG Matrix is an important tool in deciding whether an organization should invest or divest in its strategic business units. The matrix involves placing the strategic business units of a business in one of four categories; question marks, stars, dogs and cash cows. The placement in these categories depends on the relative market share of the organization and the market growth of these strategic business units. The steps to be followed in this analysis is as follows: • Identify the relative market share of each strategic business unit. • Identify the market growth of each strategic business unit. Email us for Any Case Solution at: [email protected] Note: This Article is only for format and is not related to case study. If you want original case solution, please place your order on the Email.

Email us for Any Case Solution at: [email protected] • Place these strategic business units in one of four categories. Question Marks are those strategic business units with high market share and low market growth rate. Stars are those strategic business units with high market share and high market growth rate. Cash Cows are those strategic business units with high market share and low market growth rate. Dogs are those strategic business units with low market share and low growth rate. • Relevant strategies should be implemented for each strategic business unit depending on its position in the matrix. The strategies identified from the The Reinvention of Kodak BCG matrix and included in the case pdf. These are either to further develop the product, penetrate the market, develop the market, diversification, investing or divesting. 10. Ansoff Matrix of The Reinvention of Kodak Ansoff Matrix is an important strategic tool to come up with future strategies for The Reinvention of Kodak in the case solution. It helps decide whether an organization should pursue future expansion in new markets and products or should it focus on existing markets and products. • The organization can penetrate into existing markets with its existing products. This is known as market penetration strategy. • The organization can develop new products for the existing market. This is known as product development strategy. • The organization can enter new markets with its existing products. This is known as market development strategy. • The organization can enter into new markets with new products. This is known as a diversification strategy. The choice of strategy depends on the analysis of the previous tools used and the level of risk the organization is willing to take. 11. Marketing Mix of The Reinvention of Kodak The Reinvention of Kodak needs to bring out certain responses from the market that it targets. To do so, it will need to use the marketing mix, which serves as a tool in helping bring out responses from the market. The 4 elements of the marketing mix are Product, Price, Place and Promotions. The following steps are required to carry out a marketing mix analysis and include this in the case study analysis. • Analyse the company’s products and devise strategies to improve the product offering of the company. • Analyse the company’s price points and devise strategies that could be based on competition, value or cost. • Analyse the company’s promotion mix. This includes the advertisement, public relations, personal selling, sales promotion, and direct marketing. Strategies will be devised which makes use of a few or all of these elements. Email us for Any Case Solution at: [email protected] Note: This Article is only for format and is not related to case study. If you want original case solution, please place your order on the Email.

Email us for Any Case Solution at: [email protected] • Analyse the company’s distribution and reach. Strategies can be devised to improve the availability of the company’s products. 12. The Reinvention of Kodak Strategy The strategies devised and included in the The Reinvention of Kodak case memo should have a strategy. A strategy is a strategy that involves firms seeking uncontested market spaces, which makes the competition of the company irrelevant. It involves coming up with new and unique products or ideas through innovation. This gives the organization a competitive advantage over other firms, unlike a red ocean strategy. 13. Competitors analysis of The Reinvention of Kodak The PESTEL analysis discussed previously looked at the macro environmental factors affecting business, but not the microenvironmental factors. One of the microenvironmental factors are competitors, which are addressed by a competitor analysis. The Competitors analysis of The Reinvention of Kodak looks at the direct and indirect competitors within the industry that it operates in. • This involves a detailed analysis of their actions and how these would affect the future strategies of The Reinvention of Kodak . • It involves looking at the current market share of the company and its competitors. • It should compare the marketing mix elements of competitors, their supply chain, human resources, financial strength etc. • It also should look at the potential opportunities and threats that these competitors pose on the company. 14. Organisation of the Analysis into The Reinvention of Kodak Case Study Solution Once various tools have been used to analyse the case, the findings of this analysis need to be incorporated into practical and actionable solutions. These solutions will also be the The Reinvention of Kodak case answers. These are usually in the form of strategies that the organisation can adopt. The following step-by-step procedure can be used to organise the Harvard Business case solution and recommendations: • The first step of the solution is to come up with a corporate level strategy for the organisation. This part consists of solutions that address issues faced by the organisation on a strategic level. This could include suggestions, changes or recommendations to the company's vision, mission and its strategic objectives. It can include recommendations on how the organisation can work towards achieving these strategic objectives. Furthermore, it needs to be explained how the stated recommendations will help in solving the main Email us for Any Case Solution at: [email protected] Note: This Article is only for format and is not related to case study. If you want original case solution, please place your order on the Email.

Email us for Any Case Solution at: [email protected] issue mentioned in the case and where the company will stand in the future as a result of these. • The second step of the solution is to come up with a business level strategy. The HBR case studies may present issues faced by a part of the organisation. For example, the issues may be stated for marketing and the role of a marketing manager needs to be assumed. So, recommendations and suggestions need to address the strategy of the marketing department in this case. Therefore, the strategic objectives of this business unit (Marketing) will be laid down in the solutions and recommendations will be made as to how to achieve these objectives. Similar would be the case for any other business unit or department such as human resources, finance, IT etc. The important thing to note here is that the business level strategy needs to be aligned with the overall corporate strategy of the organisation. For example, if one suggests the organisation to focus on differentiation for competitive advantage as a corporate level strategy, then it can't be recommended for the The Reinvention of Kodak Case Study Solution that the business unit should focus on costs. • The third step is not compulsory but depends from case to case. In some HBR case studies, one may be required to analyse an issue at a department. This issue may be analysed for a manager or employee as well. In these cases, recommendations need to be made for these people. The solution may state that objectives that these people need to achieve and how these objectives would be achieved. The case study analysis and solution, and The Reinvention of Kodak case answers should be written down in the The Reinvention of Kodak case memo, clearly identifying which part shows what. The The Reinvention of Kodak case should be in a professional format, presenting points clearly that are well understood by the reader. 15. Alternate solution to the The Reinvention of Kodak HBR case study It is important to have more than one solution to the case study. This is the alternate solution that would be implemented if the original proposed solution is found infeasible or impossible due to a change in circumstances. The alternate solution for The Reinvention of Kodak is presented in the same way as the original solution, where it consists of a corporate level strategy, business level strategy and other recommendations. 16. Implementation of The Reinvention of Kodak Case Solution Email us for Any Case Solution at: [email protected] Note: This Article is only for format and is not related to case study. If you want original case solution, please place your order on the Email.

Email us for Any Case Solution at: [email protected] The case study does not end at just providing recommendations to the issues at hand. One is also required to provide how these recommendations would be implemented. This is shown through a proper implementation framework. A detailed implementation framework helps in distinguishing between an average and an above average case study answer. A good implementation framework shows the proposed plan and how the organisations' resources would be used to achieve the objectives. It also lays down the changes needed to be made as well as the assumptions in the process. • A proper implementation framework shows that one has clearly understood the case study and the main issue within it. • It shows that one has been clarified with the HBR fundamentals on the topic. • It shows that the details provided in the case have been properly analysed. • It shows that one has developed an ability to prioritise recommendations and how these could be successfully implemented. • The implementation framework also helps by removing out any recommendations that are not practical or actionable as these could not be implemented. Therefore, the implementation framework ensures that the solution to the The Reinvention of Kodak Harvard case is complete and properly answered. 17. Recommendations and Action Plan for The Reinvention of Kodak case analysis For The Reinvention of Kodak, based on the SWOT Analysis, Porter Five Forces Analysis, PESTEL Analysis, VRIO analysis, Value Chain Analysis, BCG Matrix analysis, Ansoff Matrix analysis, and the Marketing Mix analysis, the recommendations and action plan are as follows: • The Reinvention of Kodak should focus on making use of its strengths identified from the VRIO analysis to make the most of the opportunities identified from the PESTEL. • The Reinvention of Kodak should enhance the value creating activities within its value chain. • The Reinvention of Kodak should invest in its stars and cash cows, while getting rid of the dogs identified from the BCG Matrix analysis. • To achieve its overall corporate and business level objectives, it should make use of the marketing mix tools to obtain desired results from its target market. Email us for Any Case Solution at: [email protected] Note: This Article is only for format and is not related to case study. If you want original case solution, please place your order on the Email.

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