Kodak Strategic Plan
Comprehensive Strategic Plan for Eastman Kodak | For Terry Bell, VP of Strategy, Eastman Kodak Company |
Executive Summary
This report’s objective is to create a comprehensive strategic plan for Eastman Kodak. An assessment of Kodak’s value and mission will assist in understanding the overall strategy and operation of the company. The development of strategic objectives is based on a review of the company’s competitive environment and an analysis of its core business functions. This report will also give recommendations on how Kodak can use its resources to create capabilities that will push its competitive advantage and realign its organizational structure and management systems.
Mission and Values
Kodak's core values are, Respect for the Dignity of the Individual, Uncompromising Integrity, trust, Credibility, continuous improvement and personal renewal, and recognition and celebration (Kodak, 2012). The company was considered a pioneer and leader in the photography and imaging industry and the historical success certainly proves that the company's operations and strategy was perfectly aligned to these core values.
Kodak’s mission is to “grow more rapidly than our competitors by providing customers with the solutions they need to capture, store, process, output and communicate images anywhere, anytime. We will derive our competitive advantage my delivering differentiated, cost effective solutions including consumables, hardware software, systems and services quickly and with flawless quality”(Kodak,2012).
Kodak’s vision “is to be a world class company and a leading imaging company in protecting the quality of environment and the health and safety of customers, employees and communities in which company operates its business and to capture pleasant movement with more energy and technical advancement and innovation” (Kodak, 2012).
The current situation that Kodak is in shows that it failed to align strategy to values. Failure by the company to
Executive Summary
This report’s objective is to create a comprehensive strategic plan for Eastman Kodak. An assessment of Kodak’s value and mission will assist in understanding the overall strategy and operation of the company. The development of strategic objectives is based on a review of the company’s competitive environment and an analysis of its core business functions. This report will also give recommendations on how Kodak can use its resources to create capabilities that will push its competitive advantage and realign its organizational structure and management systems.
Mission and Values
Kodak's core values are, Respect for the Dignity of the Individual, Uncompromising Integrity, trust, Credibility, continuous improvement and personal renewal, and recognition and celebration (Kodak, 2012). The company was considered a pioneer and leader in the photography and imaging industry and the historical success certainly proves that the company's operations and strategy was perfectly aligned to these core values.
Kodak’s mission is to “grow more rapidly than our competitors by providing customers with the solutions they need to capture, store, process, output and communicate images anywhere, anytime. We will derive our competitive advantage my delivering differentiated, cost effective solutions including consumables, hardware software, systems and services quickly and with flawless quality”(Kodak,2012).
Kodak’s vision “is to be a world class company and a leading imaging company in protecting the quality of environment and the health and safety of customers, employees and communities in which company operates its business and to capture pleasant movement with more energy and technical advancement and innovation” (Kodak, 2012).
The current situation that Kodak is in shows that it failed to align strategy to values. Failure by the company to
References: Associated Press. (2012, April 27). Associated press. Retrieved from http://finance.yahoo.com/news/eastman-kodak-1q-loss-widens-152924392.html De La Merced, M. (2012, January 19). Eastman kodak files for bankruptcy. Retrieved from http://dealbook.nytimes.com/2012/01/19/eastman-kodak-files-for-bankruptcy/ Grant, R.M. (2010). Contemporary strategy analysis. West Sussex, UK: John Wiley & Sons. Kodak. (2009, 2011). Annual Report. From http://investor.kodak.com/phoenix.zhtml?c=115911&p=irol-secfilings Kodak (2012). About Kodak. Retrieved from http://www.kodak.com/ek/US/en/Our_Company/Careers_at_Kodak/Why_Join_Kodak/Kodak_Values_and_Mission.htm Porter, M. (1979). How competitive forces shape strategy. Harvard Business Review. Retrieved from http://prolog.univie.ac.at/teaching/LVAs/KFK-LM/WS07/Porter.pdf Jay Yarow. (2011). The iPhone Makes Point And Shoot Cameras Obsolete. Available: http://articles.businessinsider.com/2011-04-18/tech/30088650_1_iphone-flickr-camera-business. Last accessed 11th Aug 2012.