Kodak Photography Company is a technology-based company in America that deals with imaging and photography. Kodak is headquartered in Rochester - New York and has been in operation since 1888. Being an innovative organization with the best technology in photography, Kodak managed to open stores globally.
According to Bennett (2018), Kodak was the leading in regards to imaging and photography globally, the organization used to employ over 140,000 employees with expertise in photography. It was in the year 2012 that the company went bankrupt, and that was the beginning of its failure. Kodak has continued to shrink with most of its buildings being demolished and its patent being sold. This is one company that was always ahead in technology. However its failure was associated with marketing and branding and also the fact that the company underestimated the power of digital. Kodak resisted the change which made it difficult to adapt to the new digital era; this saw the company fail as the digital era organizations began to slowly gain competitive advantage. The fact that Kodak invented photography, was a reason as to why it could have taken over the digital photography, however, because of the challenge to change, the company is still struggling to become relevant in the digital photography era (Altman, & Narayanan, 1997) .
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To revive, Kodak Photography could focus on rebranding and marketing through the use of new technology. The fact that the company operated globally makes it clear on the customer loyalty it gained. Therefore it could convince its customers of the new and innovative filming, imaging and photography. The organization could also embrace the digital era by focusing on current ideas in its line of business. The company could also merge with a photography company as a way of salvaging the remaining business assets. Research and development are very important for any business, Kodak could have invested in more research to establish a strategy to guard the organization from failure (Lucas & Goh, 2009) .
Reference
Altman, E. I., & Narayanan, P. (1997). An international survey of business failure classification models. Financial Markets, Institutions & Instruments , 6 (2), 1-57.
Bennett K,(June 7,2018) Great American Companies in Serious Danger of Disappearing Forever.; wall street journal; retrived from; https://www.cheatsheet.com/money-career/great-companies-on-the-brink-of-death.html/
Lucas Jr, H. C., & Goh, J. M. (2009). Disruptive technology: How Kodak missed the digital photography revolution. The Journal of Strategic Information Systems , 18 (1), 46-55.
Munir, K. A., & Phillips, N. (2005). The birth of the'Kodak Moment': Institutional entrepreneurship and the adoption of new technologies. Organization studies , 26 (11), 1665-1687.
