Strategic Plan for a Company in Serious Trouble: Eastman Kodak
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Please help choosing an organization as the focus for the Strategic Plan. The organization may be an existing company, nonprofit organization, religious organization, or governmental agency. I have to avoid an organization that is so large that historical data would be difficult to apply. Firms in the Russell 2000 index may fit well, whereas firms in the Dow 30 Industrial index probably do not.
The organization can be a start-up that you or a significant other may create in the future. For a start-up, focus on an entrepreneurial idea that is of substantive interest, so this project leaves you with a product you may leverage in the future.
If the organization has multiple businesses, the subject of your strategic plan must be at the business level and must fall into at least one of the following categories:
a. it is in serious trouble
b. it is facing disruptive change
c. it has not yet begun to operate.
For example, a brand new business for Procter & Gamble would be approved. Procter & Gamble as a whole would not be, because it is at the corporate level, nor would support departments such as IT or HR, or functions within a business, because they are at the functional level.
Justify selecting this organization. Include the following:
a. The organization's name
b. The purpose for this organization's existence
c. The category or categories two paragraphs up, and evidence why
d. Why this organization is of interest to you
e. Availability of organizational data: Avoid selecting an existing organization for which there is no publicly available historical data.
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Solution Summary
The solution discusses a strategic plan for a company in serious trouble.
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Strategic Plan: Eastman Kodak Company
Introduction
Strategic planning refers to the process of defining directions or allocating resources to achieve organizational goals. It is a management tool that helps the organization to focus its energy to assess and adjust the organization's direction in response to a changing environment. This paper discusses the strategic plan with the help of Eastman Kodak Company. The purpose of the existence of this company is its innovative services. It is a leading global developer of digital and traditional imaging products and services that includes cameras, films, home printer, photographic processing, online photo storage and sharing system etc. for both consumers and professionals.
Mission Statement
In order to create an effective strategic plan, mission statement of the company is as follow:
"With the help of six key values such as respect for the dignity of the individual, uphold uncompromising integrity, give and receive unquestionable trust, prove and maintain constant credibility, support continual improvement and personal renewal and recognize and celebrate achievement, company plan to grow more than the competitors by providing customers with the solutions they need to capture, store, process, output and communicate images anywhere and anytime. Company also delivers differentiated and cost effective solutions that include consumables, hardware, software, systems and services with quickly and flawless quality in order to drive competitive advantages (Kodak, 2011)".
Vision Statement
"The vision statement of Eastman Kodak Company is to be the world leader in imaging" (Kodak, 2011).
SWOT Analysis
In order to create effective strategic plan, company's SWOT analysis is as follow:
Strengths:
Eastman Kodak has a popular brand name in the market that creates the strengths for the company.
Company invests huge money in research and development that help company to produce high definition products and services. It is also helpful ...
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