Failing business v. accomplished business
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I am in need of some help composing a 4-5 page report regarding a failing business and a business that is currently very accomplished. Specifically, one outling what factors (competition, environment, planning) played a role in the success of the accomplished business, and the factors that led to the downfall of the failing business. Any help would be greatly appreciated.
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Solution Summary
The answer to this problem explains the factors responsible for a failing business, and factors that led to an accomplished business. The references related to the answer are also included.
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In compliance with BrainMass rules this is not a hand in ready report but is only guidance.
The Failing Business:
The failing business is Eastman Kodak Company. It is historically a photography company. The company was founded by George Eastman in 1892. The company is known for its photographic products and held a dominant position in the photographic film. In 1990s the company faced declining sales of photographic film and could not easily transition to digital photography. The company tried to increase its revenues through digital photography, and digital printing. However, it failed and in 2012 Kodak filed for Chapter 11 bankruptcy.
There were several factors that played an important part in the downfall of Kodak. The technological environment around Kodak changed rapidly and the top management was caught unawares. The company always thought that there would always be a demand for hard prints. The market changed and people preferred digital cameras because they did not require hard prints! Further, digital device makers such as Sony were able to capture the market of Kodak by selling digital cameras in electronic retail outlets, next to other gadgets. Kodak had targeted women for its cameras, the market shifted and men were using digital cameras. Since, the film business had high margins, Kodak tried to prolong the life of film through smaller cameras and hybrid technologies. The technological change was so dramatic that Kodak was not able to fully realize the potential of the digital camera. The factors that led to the downfall of Kodak were the evolution of new technology, strong attachment to the brand, and being imprisoned in the photographic universe. The external factor was that digital photography was a disruptive technology.
The key environmental factor that led to the decline of Kodak was the evolution of digital photography. It was not able to adapt ...
Education
- BSc , University of Calcutta
- MBA, Eastern Institute for Integrated Learning in Management
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