Kodak vs. Fujifilm Essay Essay Example

Kodak vs. Fujifilm Essay Paper I began composing to demo how concern can rapidly travel out of concern if the proprietors do non maintain an oculus on its public. Kodak failed to run into its customer’s demands. so the company could non maintain up with demands. Have you of all time gone shopping and found yourself seeking for an point you have seen advertised in another shop. merely to be told that the point was out of stock or this shop does non transport that merchandise. This is what happens when supply does non maintain up with demand. The company goes under. under the strain of their competitor’s reactiveness. Kodak needed to do alterations sooner instead than subsequently when their direction made determinations that could assist or ache Kodak. Fuji invariably made alterations and made the necessary alterations to run into their customer’s demands. As a concern proprietor being able to make and understand each client will assist in gross revenues so net incomes will lift. We will write a custom essay sample on Kodak vs. Fujifilm Essay specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Kodak vs. Fujifilm Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Kodak vs. Fujifilm Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Many people continue to shop where merchandises are inexpensive and convenient. Staying in concern is cognizing and run intoing different people with different wants and demands and so assisting them with happening an cheap agencies of happening them. That is the nature of concern and a manner to maintain a client satisfied. Constructing a relationship with clients is the most of import facet in concern. If the concern does non talk straight to its customer’s they will shortly hold a loss in clients. Management plays an of import portion in the structuring of a concern if the director is non being active in the hunt for new thoughts. Therefore technics to better the company that company will be lost. New merchandises must be advertised and sold in order to turn successfully. Ideas must be turned into merchandises and jobs refering issues in a merchandise must be changed into betterments for the client. All these things must be completed to do certain there is a changeless grow ing in concern. so its gross revenues could be turned into capital to spread out the concern. Kodak vs. FujifilmTurning up in a large household where parents loved taking images and capturing that particular minute. Kodak and Fujifilm played an tremendous function in many families around the universe. When it comes to history and competition. direction schemes play a cardinal function in the manner two competitory companies embrace invention. Kodak and Fujifilm companies focus on both picture taking and imagination as their nucleus concerns. Kodak had an upper manus by get downing earlier than Fujifilm. 1888 compared to 1934 ( Kodak and Fujifilm. 2012 ) . Fujifilm adapted more to the market alterations and presently still is a taking force in the movie industry. Kodak was in bankruptcy protection since January 2012 under Chapter 11 with hopes to seek to reconfigure its concern schemes. Slow and comp lacey adaptation dominated in Kodak Company’s while Fujifilm embraced diversified spirit in all facets of the market relevancy. Each company’s moralss and societal a ttack clearly reflects their profitableness to give back to the community. Production criterions were maintained that satisfied all consumers. Possible alterations of the decision-making procedure that would encompass flexibleness and be the best manner to guarantee diverseness and invention in any organisation. Describe the History and Core Business of Each Company Kodak Kodak was officially known as Eastman Kodak Company. The laminitis George Eastman ( 1888 ) . patent and developed a engineering that would alter the manner we see things in still life. Eastman launched the easiness to photography. the first simple chink camera. picture taking equipment. movie. paper. and colour chemicals. Kodak was doing a net income by the 1990’s. ( â€Å"Building the Foundation† . n. d. ) . Although Kodak developed the basic engineering for the digital cameras in 1975. the thought was dropped due to the fright that it would endanger the movie concern ( Williams. 2013 ) . Kodak dropped the ball on what would hold been the biggest engineering development in the movie industry because they could non see the hereafter without traditional movie. Digital cameras are much faster and more efficient than the traditional movie. so Kodak gross revenues dropped well. Competition from other companies would finally take to Kodak’s loss of market portions in United States and worldwide. January of 2012. the company filed Chapter 11 bankruptcy protection. and a twelvemonth subsequently. the tribunal approved funding. Kodak. they sold patents to a group of companies: Apple. Microsoft. Google. and others. Fujifilm The Nipponese company was founded in 1934 ( Fujifilm. n. d. ) . They focused on picture taking and imagination. The company shortly ruled the Nipponese market. which was ranked 2nd after the United States in movie use ( Fujifilm. n. d. ) . Finally. the company entered the planetary and American market with a bold move. utilizing aggressive selling and low monetary values ( Fujifilm. n. d. ) . The turning point of the Fujifilm’s success in this venture was marked by the 1984 Los Angeles Olympics ( Fujifilm. n. d. ) . when they became the official movie of the event. This placed Fujifilm on the market for good. and the company started taking over Kodak’s market portion by offering equal quality merchandises for a cheaper monetary value ( Fujifilm. n. d. ) . As Fujifilm prepared for the fast changing demands in the market. it widened its concern range to digital cameras. pressmans. photocopiers. and optical devices ( Fujifilm. n. d. ) . It besides tapped into the wellness sector. bring forthing medical equipment that includes X-ray imagination and chemicals ( Fujifilm. n. d. ) . Compare and Contrast the Approach to Management That Each Company has Pursued in Order to Embrace Innovation. Kodak’s failure to encompass invention in a timely manner could be blamed on its management’s attack. They seemed to â€Å"rule† from behind the desk from their Rochester central office. which made them ignorant about the coming alterations in engineering and customers’ demands. and how it would impact them. Even when they were advised that the move to digital engineering was necessary. direction still refused to take action. In fact. avoiding revolutionising the engineering they originally created is the chief ground behind Kodak’s current problems and loss of portion in the market ( Williams. 2013 ) . Although they created the first of all time digital camera back in 1975. top-level direction rejected the thought in fright of losing its nucleus concern in movie. Looking back. this seems to be the turning point in the company’s luck ( Mui. 2012 ) . The predicted alteration to digital engineering 20 old ages subsequently was seen as the far future. and as the company enjoyed success. leading did non see a ground for alteration. In recent old ages. neverthe less. Kodak tried to alter its direction scheme in encompassing invention. They shifted to delocalize research and collect informations. in order to garner more information about consumer penchants. They besides diversified top-level direction to guarantee best accomplishment input in each field. and implemented a more democratic direction manner that listens to staff suggestions and thoughts ( Williams. 2013 ) . Fuji. on the other manus. took a different attack from the beginning ; while they were successful in the movie concern. they prepared for the switch to digital engineering and developed new concern lines. Initially. they started off as a picture taking and imaging company. so diversified into different other merchandises such as digital cameras. cosmetology. and medical equipment. This enabled Fujifilm to accomplish net incomes depending on the penchants of their assorted client bases. After its successful laterality in the Nipponese market. Fujifilm realized the potency in embarking into the planetary market. The 1984 Olympics in Los Angeles marked the discovery point in this venture. when Fujifilm became the official movie of the event. This provided the company the chance to acquire a turning part of Kodak’s market portion ( Schum. 2012 ) . A joint venture with the UK based Xerox ( Fuji Xerox ) helped set up farther planetary production and gross revenues. Their amalgamate financess equipped both companies with capableness for invention. research A ; development. and investings. Determine what other direction differences have impacted the comparative success of Kodak and Fujifilm. Provide specific illustrations to back up your response. Opposing to alter by direction was a major cause for the failure of Kodak. Even though they dropped the ball on the digital engineering. Kodak got the recognition for the digital innovation. They felt their initial programs and scheme worked so good that alteration was non needed. The direction squad believed that its nucleus strength was in the trade name and selling that they could merely spouse up with or purchase into a new industry such as drug or chemicals. But without in-house counsel. Kodak lacked the ability to incorporate the companies it had purchased and to negociate profitable partnerships ( Schum. 2012 ) . Unlike Kodak. Fujifilm implemented its ends and thoughts. and the company’s speedy reaction to alter was an advantage over Kodak. The success of Fujifilm can be chiefly associated with Management’s flexibleness to be advanced and venture into new engineering. which has put the company at the top of the photographic industry since its initiation in 1934 ( K. N. C. . 2012 ) . When Fuji realized that digital picture taking would be the manner of the hereafter. the company went through some alterations to acquire off from the same type of selling that Kodak was stuck on. Fuji still went through a figure of old ages of losing net income because of doing movie fabrication and gross revenues its chief concern. but finally Top Management had to implement new schemes. Evaluate each Company’s attack to Ethical motives and Social Duties and the impact those attacks have had on each company’s profitableness. In 2004. Kodak was ranked 58th out of the top 100 companies surveyed for the listing of. â€Å"Best Corporate Citizens† . This recognition was given by Business Ethics Magazine. and harmonizing to the article. Kodak had been in the running for 5 old ages ( Business moralss names. 2004 ) . Some of the countries that Kodak was recognized for were for the company’s anti-discrimination policies. and its just intervention of adult females and minorities ( Business moralss names. 2004 ) . From a societal duty point of view. Kodak contributes to. and supports a figure of community organisations such as. the United Way. museums. cultural installations. and executing humanistic disciplines organisations ( Community personal businesss. 2013 ) . The lone facet of hapless societal duty that I can use to Kodak would be from the old ages of hapless direction determinations and a waste of money on a division of the company. Kodak did non fix for the hereafter. and ended up holding to register bankruptcy. which stained the company’s image. Hopefully. Kodak direction has learned from the errors of the past and be a well-thought-of trade name. Kodak is committed to environmental. ethical. and societal responsible operations that include keeping safe work environment and supplying quality merchandises. Kodak’s single-use recycling plans help to avoid waste while salvaging resources and cut downing cost of recycling the recycled stuff. All in attempt to advance Kodak’s images as a trustworthy and thorough company. Fujifilm is obligated to moralss and societal duty every bit good. The company’s mini-lab web provided them with benefits of international economic graduated tables for both fabrication and selling operations ( Tsurumi A ; Tsurum. . 1999 ) . For illustration. Fujifilm’s cost of goods sold as a per centum of gross revenues continued to worsen from 1980’s to 1990’s. although it had to absorb perennial cost of imported Ag stuffs. Fujifilm spent 10 times more for advertizement than Kodak did in Japan ( Japan Market Research. 1995 ) . This ensures that these steps and values are integrated in all company processs. They besides implemented a transparence policy to maintain the authorities and clients cognizant of its concern activities. Discuss the extent to Which Management of both Companies adapted to altering Market conditions. From what I have researched and wrote approximately. Kodak stood house in their traditions and was confident in their trade name and selling schemes. Kodak direction had great inability to accommodate to the altering selling conditions when the marks were at that place for the hereafter. That inability led them straight to bankruptcy ( Schumpeter. 2012 ) . Presently. the company is seeking to retrace its schemes with a chief focal point on commercial printing. Fujifilm. on the other manus realized that major alterations were necessary the coming of the new photographic movie. Management made the appropriate moves to fix for the future selling conditions. They ability paid away. Fujifilm direction squad displayed the true value of invention. scheme. and executing compared to Kodak direction squad. There diverse in-house expertness insured a smooth transmutation ( Schumpeter. 2012 ) . Recommend three ( 3 ) ways any company should construct in flexibleness to endorse up its decision-making procedure in order to accommodate to altering market conditions. An unfastened head: Management should hold upward communicating in its companies marketing scheme and determination devising procedure. The lower-level direction squad gives the high-level direction squad positive or negative feedback on the operation issues. jobs. and public presentation of a company in order for all operations to run right and swimmingly. Broad minded employees are unfastened to new ideals and will be a great plus to the growing of any company or concern. Global Expansion to Long Term-Planning: Planing their merchandises harmonizing to the planetary market alterations. Making remarks to increase the merchandises and services by invariably measuring and bettering the procedures used to make those merchandises. By making so. the company could spread out in selling faster. dependable. and satisfactory merchandises in services to do clients return. Teamwork: Directors and non-managers join forcesing with concern proprietors.providers. employees. and clients working together to do betterments and work out jobs in a company. Uniting different accomplishments and leting employees to work together as a squad to acquire a Clients order completed. MentionsBloomberg. ( 1998 ) . Kodak-Fuji in U. S expected to heat up. New York. World Wide Web. articleslatimes. com/1998/feb/16/busines/fuji. bloombergnews Fujifilm. ( n. vitamin D ) . Fujifilm Global. Retrieved from hypertext transfer protocol: //www. fujifilm. com/ Kodak. ( n. vitamin D ) . Constructing the Foundation. Kodak. Retrieved from hypertext transfer protocol: //www. kodak. com/ek/US/en/Our_Company/History_of_Kodak/Building_the_Foundation. htmMui. C. ( 18 January. 2012 ) . How Kodak Failed. Forbes. Retrieved fromhypertext transfer protocol: //www. forbes. com/sites/chunkamui/2012/01/18/how-kodak-failed Schumpeter. ( 2012 ) . How Fuji movie survived. World Wide Web. economic expert. com/blogs/Schumpeter/2012/how-Fujifilm survivedWilliam. C ( 2012 ) . Management: MGMT5. ( fifth erectile dysfunction. ) . Mason. OH ) South-Western Cengage LearningZiemba. S. ( 1996 ) articles about Fuji-chigogotribune. World Wide Web. articles. chicogotribune. com/keyword/Fuji