Fujifilm
Question 3: How did Fuji Photo Film start to turn around?
1.1. Solutions to Fuji Photo Film’s problems:
1.1.1. Short term solutions:
Reorganization: To slash cost and increase efficiency, CEO Komori formulated a 2-year, full-scale reorganization costing 1.57 billion euros.
Shutting down unprofitable business
E.g: Photo film, which was once the mainstay product of the company, was phased out
Mass layoff:
E.g: cutting of 5000 jobs
Outsourcing: Moving of production from Japan to emerging countries
E.g: Fuji Xerox (a joint venture partnership of Fujifilm & Xerox Corp.) now based 90% of production in China.
Streamlining its supply chain
E.g: Fujifilm UK adopted new online service manager system to handle repair works increase 15% of efficiency without increasing employees.
1.1.2. Long term solution:
1.1.2.1. Change of mission and vision:
Original vision: focus on becoming world’s leader in film and printing pictures industry
New vision: Fujifilm is determined to remain a leading company by boldly taking up the challenge of developing new products and creating new value.
New mission: transcend past boundaries of “Imaging and Information” to advance the development of culture, science, technology and industry across society and furthermore improve human health and protect the environment.
1.1.2.2. Restructuring the company:
Change from “Fuji Photo Films Co.” to “Fujifilm Holdings Corp” which consists of subsidiaries that specialized in different fields.
E.g: Fujifilm Corp., which will manage the group’s photo film business, and Fuji Xerox Co., which will handle office equipment manufacturing and sales.
1.1.2.3. Expanding to new business fields:
Originally, Fujifilm focuses on “Imaging solution”, which emphasizes the film and printing technology.
Follow the new vision & mission, Fujifilm Holdings Corp diverse its business into 3 main segments
Notably, the company invests greatly on brand new fields, such as medical systems or
1.1. Solutions to Fuji Photo Film’s problems:
1.1.1. Short term solutions:
Reorganization: To slash cost and increase efficiency, CEO Komori formulated a 2-year, full-scale reorganization costing 1.57 billion euros.
Shutting down unprofitable business
E.g: Photo film, which was once the mainstay product of the company, was phased out
Mass layoff:
E.g: cutting of 5000 jobs
Outsourcing: Moving of production from Japan to emerging countries
E.g: Fuji Xerox (a joint venture partnership of Fujifilm & Xerox Corp.) now based 90% of production in China.
Streamlining its supply chain
E.g: Fujifilm UK adopted new online service manager system to handle repair works increase 15% of efficiency without increasing employees.
1.1.2. Long term solution:
1.1.2.1. Change of mission and vision:
Original vision: focus on becoming world’s leader in film and printing pictures industry
New vision: Fujifilm is determined to remain a leading company by boldly taking up the challenge of developing new products and creating new value.
New mission: transcend past boundaries of “Imaging and Information” to advance the development of culture, science, technology and industry across society and furthermore improve human health and protect the environment.
1.1.2.2. Restructuring the company:
Change from “Fuji Photo Films Co.” to “Fujifilm Holdings Corp” which consists of subsidiaries that specialized in different fields.
E.g: Fujifilm Corp., which will manage the group’s photo film business, and Fuji Xerox Co., which will handle office equipment manufacturing and sales.
1.1.2.3. Expanding to new business fields:
Originally, Fujifilm focuses on “Imaging solution”, which emphasizes the film and printing technology.
Follow the new vision & mission, Fujifilm Holdings Corp diverse its business into 3 main segments
Notably, the company invests greatly on brand new fields, such as medical systems or