Produce a Strategic Audit for Kodak, including all eight sections.
IFAS, EFAS, and SFAS tables are to be presented in Excel format and comments in word. Analyze socio-cultural, political-legal, technological, and financial data to justify your available strategies and the one(s) you recommend.© BrainMass Inc. brainmass.com October 2, 2020, 12:46 am ad1c9bdddf
Running Head: STRATEGIC AUDIT
Strategic Analysis of Kodak
In present scenario of globalization, it is necessary for the organizations to know about their strategic factors. To analyze the strategic issues in the organization, strategic audit is conducted by the firms. In this way, to achieve organizational goals in terms of competitive advantage and growth, firms are using innovative tools and tactics. In the technological advanced age, it is important for the organizations to perform effectively. To develop the strategic factor based analysis, the firms are organizing SWOT analysis (Ryall & Craig, 2003).
SWOT analysis includes key aspects of the firm those are strength, weakness, opportunity and threat. Kodak is a multinational company that provides imaginary and photographic materials and equipments (About Kodak, 2010). To deal and manage the market challenges posed by the competitors, the firm wants to accomplish effective and efficient strategy. Strategic factors, strategic alternative, evaluation and control for the company will be discussed to assist the company in identifying the best strategy (Wilson & Gilligan, 2005).
Strategic Factor Analysis
Strategic factors play a vital role to determine the success and growth of the organization in the competitive market. To evaluate the organization's competitive position and add values to organization's business, many strategic tools are used by the organizations (Ryall & Craig, 2003). For Kodak, strategic factor analysis can be discussed as follow:
Financial Situation: Financial situation plays a fundamental role to determine the successful management of the business tactics in the particular country or business. According to the external factor analysis, financial or economic condition affects an organization's sales and profitability. Economic conditions act as a threat for the company due to fluctuation of the economic environment. Effective and well structured philosophy or strategy help an organization to manage this critical situation to run the business successfully and effectively (Matzler, Bailom, Anschober & Richardson, 2010).
Global Image: Global image of Kodak is an important strategic factor to increase the growth of the business. To fulfill the needs and wants of the customers, the firm has strong business philosophy (About Kodak, 2010). To ensure the best picture quality of its products, the firm has adopted many initiatives to attract the customers towards its products. The firm has focused on adopting social and cultural norms. According to the Internal analysis, it is inferred that global image of the firm acts as a strength of the firm. Through using corporate social responsibilities, the firm can fulfill commitment with its stakeholders. Due to high level of concern for the stakeholders, the sales and growth of the firm are high (Wilson & Gilligan, 2005).
Environmental Functions: Environmental functions are the important factor to cover some key issues like, governmental rules, regulations, policies and legal regulations. To run the business successfully, it is necessary for the organization to consider these factors (Ryall & Craig, 2003). According to the strategic factor analysis, it is identified that ...
The expert examines the strategic audit for Kodak. IFAS, EFAS, and SFAS tables are presented.