Kodak vs. Fujifilm

The following sample essay on Kodak vs. Fujifilm tells about the competitiveness of two large companies and customer satisfaction.

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 to a 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 the strain of their competitor’s restiveness. Kodak needed to do alterations sooner instead than subsequently when they 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.

Many people continue to shop where merchandise 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 a cheap agency 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.

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Management plays an of import portion in the structuring of a concern if the director is nonbeing active in the hunt for new thoughts. Therefore technics to better the company that company will be lost. New merchandise must be advertised and sold in order to turn successfully. Ideas must be turned into merchandise and jobs refering issues in a merchandise must be changed into betterments for the client. All these things must be completed to make certain there is a changeless growing concern. So its gross revenues could be turned into capital to spread out the concern.

Turning up in a large household where parents loved taking images and capturing that particular minute. Kodak and Fujifilm played a 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 competing companies embrace invention. Kodak and Fujifilm companies focus on both picture taking and imagination as their nucleus concerns. Kodak had an upper menu by getting 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 has been 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 morals and societal attack clearly reflect their profitableness to give back to the community. Production criteria were maintained that satisfied all consumers. Possible alterations of the decision-making procedure that would encompass flexibleness and be the best manner to guarantee diversity and invention in any organization.

History and Core Business

Kodak

Kodak was officially known as Eastman Kodak Company. The lament George Eastman (1888). Patent and developed an engineering that would alter the manner we see things still life. Eastman launched the easiness to photography, the first simple chink camera, picture taking equipment, movie, paper and color chemicals. Kodak was making a net income by the 1990’s. (“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 sold the 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 the 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 merchandise for a cheaper monetary value (Fujifilm n.d.). As Fujifilm prepared for the fast changing demands in the market. It widened its concern range of digital cameras pressmen, photocopiers and optical devices (Fujifilm. n.d.). It tapped into the wellness sector bring furthering 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 “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 revolutionizing the engineering they originally created is the chief ground behind Kodak’s current problems and loss of a 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 a 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, nevertheless Kodak tried to alter its direction scheme in encompassing invention. They shifted to delocalize research and collect information in order to garner more information about consumer penchants.

They besides diversifying top-level direction to guarantee best accomplishment input in each field and implemented a more democratic directional manner that listens to staff suggestions and thoughts (Williams. 2013). Fuji on the other man’s 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 merchandise 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 finances’s equipped both companies with capableness for invention research; development and investing. 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 negotiate 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 profitability. In 2004. Kodak was ranked 58th out of the top 100 companies surveyed for the listing of “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 morals’s 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 morals’s names. 2004). From a societal duty point of view. Kodak contributes to and supports a figure of community organizations such as the United Way museums, cultural installations and executing humanistic disciplines organizations (Community personal business’s. 2013). The lone facet of hapless societal duty that I can use 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 ethics and societal responsible operations that include keeping safe work environment and supplying quality merchandise. Kodak’s single-use recycling plans help to avoid waste while salvaging resources and cut down the cost of recycling the recycled stuff. All in an attempt to advance Kodak’s images as a trustworthy and thorough company. Fujifilm is obligated to morals 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 the 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 processes. They implemented a transparent 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 the 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 in 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 man’s 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 the Kodak direction squad. Their diverse in-house expertness insured a smooth transmutation (Schumpeter. 2012). Recommend three ways any company should construct in flexibleness to endorse up its decision-making procedure in order to accommodate altering market conditions. An unfastened head: Management should hold upward communicating with 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 operational 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 ideas and will be a great plus to the growing of any company or concern. Global Expansion to Long Term-Planning: Planing their merchandise harmonizing to the planetary market alterations. Making remarks to increase the merchandises and services by invariable measuring and bettering the procedures used to make those merchandises. By doing so the company could spread out in selling faster dependable and satisfactory merchandise 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 letting employees work together as a squad to acquire a Client’s order completed.