Strategic Plan for Eastman Kodak Company

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Strategic Analysis on Eastman Kodak Company

Executive Summary
From the report, it is identified that strategies analysis is helpful for a company to create effective and suitable strategies in order to achieve their vision, mission and objectives in effective manner. In the report, it is also identified that the mission statement of Eastman Kodak Company emphasis on huge R&D activities that helps the company to innovate different products and services to the customers. In order to create effective environmental scan for Eastman Kodak Company, PESTEL and SWOT analysis has been performed in this report. From the PESTEL analysis, it is identified that the operation and management activities of Eastman Kodak Company is affected by the several factors. From the SWOT analysis, it is identified that company has a good position in the market and the brand name creates the possibilities to grow in the market. With the help of brand name, company generates finance and creates huge R&D activities to support the innovations within the company.
From the analysis of SWOT, it is recommended that company should use the aggressive strategy that help to maximize their opportunities to grow in the market and minimize their weaknesses to create effective competitive environment in the international as well as domestic market. In order to achieve their long term objectives in the market, company should more focus on vertical integration strategy to create product development for the customers. Company should also more focus on conglomerate diversification strategy. It is identified that with the help of conglomerate diversification strategy, company can invest their money in other products and satisfies customer needs. From the report, it is also analyzed that innovation and technical infrastructure are the key success factor of company in order to compete in the international market. Report is also identified the strategy implementation plan for effective implementation of a strategy in the company. This report also recommends an effective risk management plan for the company.

Table of Contents
Introduction 6
Background 6
Vision Statement 6
Mission Statement 6
Value Statement 7
External Analysis of Kodak 7
PESTLE Analysis: 8
Political Factors: 8
Economic Factors: 8
Social Factors: 8
Technological Factors: 8
Legal Factors: 8
SWOT Analysis: 9
Strengths: 9
Weakness: 9
Opportunities: 9
Threats: 10
Findings of SWOT Analysis 10
Competitive position of Eastman Kodak 11
Long-term Objectives 11
Strategy for Eastman Kodak Company 12
Strategy Recommendation for Short Term 12
Implementation Plan 13
Short-Term Objectives: 13
Functional Tactics: 13
Action Items: 14
Milestones and a Deadline: 14
Tasks and Task Ownership: 14
Resources Allocation: 15
Key Success Factors of Eastman Kodak 15
Technical Infrastructure: 15
Innovation: 15
Budget 16
Assumptions: 16
Forecasted Income Statement 16
Risk Management Plan 18
Identification of Risk: 18
Quantification of Risks: 19
Developing a Risk Response: 19
Monitoring and Control of Risk: 19
Conclusion 20
References 21

Introduction
Strategic analysis helps the company to analyze their strengths and weakness and explore the opportunities in order to establish an effective plan for the market. This paper discusses the strategic analysis of Eastman Kodak Company in order to develop strategic plan in the future. This paper also discusses the short and long term strategies to achieve objectives in effective manner.
Background
Eastman Kodak Company is a leading multinational manufacturing company in the world. Company deals in imaginary and photographic materials and equipments to the customers into worldwide market (About Eastman Kodak, 2011). Eastman Kodak is US based firm that focuses over two major market or segments such as digital photographic and digital printing.
Vision Statement
"The vision of Eastman Kodak 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" (Kodak, 2011). The vision statement of Eastman Kodak Company also emphasizes on "capture pleasant movement with more energy and technical advancement & innovation". It would help the firm to attract the customers towards the products of firm due to providing extra featured cameras that will help the customers to save their pleasant moments.
Mission Statement
According to the mission statement, Eastman Kodak is planning to grow in the market and create competitive advantage over its competitors by providing best customers solutions, which help them to capture, store, process output and communicate images anywhere and anytime in the world (Kodak, 2011). This mission statement will be helpful for the company to achieve its vision in future. With the help of mission statement, company will be able to provide world class and innovative cameras to its customers. It will be also helpful for the company to create cost effective products with maintaining quality. Company's mission statement also includes huge R&D on products and technology that will be helpful for the company to produce effective products and services to the customers. It will also helpful to make a world class and leading company at international platform (Padoan, Brenton and Boyd, 2003, p.44).
The brand name of Kodak helps the company to create huge investments in the market. With the help of brand name, company is become able to collect sufficient finance for its R&D activities that help company to produce innovative and cost effective products and services for the customers. The brand name also helps the company to create a strong relationship with its stakeholders that help the company to retain their stakeholders in order to create innovations in products and services (Abbing, 2010, p.9).
Value Statement
Company has six different key values such as dignity of individual, upholds uncompromising integrity, give and receive unquestionable trust, prove and maintain constant credibility, recognize and celebrate achievements and support for continual improvement and personal replacement. With the help of these six key values, company drive its competitive advantage by delivering differentiated and cost effective solution within the time and with flawless quality to the customers (Kodak, 2011).
External Analysis of Kodak
Under the external analysis, PESTL and competitor's analysis are included. These are as follow:
PESTLE Analysis:
Political Factors:
Factors that are controlled by the government of any country are included under the political analysis. Changes in political parties, rules and regulation of particular country will affect the operations of Eastman Kodak. So, the firm should determine all political changes and formulate strategies according to the changes that will be beneficial for the firm (Bensoussan and Fleisher, 2008, p.136).
Economic Factors:
Various factors are included under the economic condition that affects the operations of Eastman Kodak such as inflation, recession, interest rate fluctuation, etc. Additionally, changes in economy of any country may affect the firm's revenues, expenses, financial factors ...