In my colleague Tom Tang’s blog post, the topic of Kodak’s future was raised. Kodak is in a dilemma with no way of getting out.
To further Tom’s blog, I examined what I thought might have contributed to the downfall of the company. The organizational structure of Kodak was clearly missing a solid management team. Kodak did not advance out of their past successes when the company was a notorious leader in the chemically photographic age of cameras. Kodak fell behind in the digital revolution. Companies such as Fuji, and Apple were technologically innovative unlike Kodak which clearly shows that without the drive, the company will not go anywhere. When a new dominant technological product hits the market, companies need to adapt quickly. Kodak ceased to come up with new innovative products such as Fujifilm and I-phone. In doing so, they did not deliver consumer needs, thus, the company gradually lost market positioning. It’s definitely too late to find the managerial talent and market leadership needed to transform the company internally. Because Kodak’s management team has not pushed for innovation, the company continues to fall behind in keeping up with its competitors in a market they once dominated.
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