Kodak Case Study

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1.1 background
In 1880, Eastman Kodak Company was founded by George Eastman. In the imaging and photography field, this company was deemed to be a leader and pioneer, and its historical success definitely demonstrate Kodak’s operation was perfectly aligned to its operations.
In August 2013, Kodak’s exited from the bankruptcy protection that happened in the previous year. Now, the company has officially transformed into a new type of company. It does not focus on making cameras, traditional film, and photography products any more. Commercial printing and imaging technology become its main business (Feintzeig, R., & Gara, T. 2013).
Strategic failure was the main reason to put Kodak in trouble. The company was unable to quickly grasp the development the future of digital, and even when it realized the importance of innovation, it was performed too slowly to meet the needs of continuous change strategy and ultimately it lost its core competitive competency.
1.2 Purpose
Regarding to Kodak’s historical failure, company should evaluate its existing risks and estimate the risks would happen in the future, which can assist manager to mitigate or minimize the risks may affect the development of the company.
This risk assessment will provide a clear view of exposed risks, no matter internal or external, historical or forward-looking. Most importantly, this assessment will determine company’s risk responses by defining risk likelihood and impact. Therefore, the company can maintain the appropriate controls to perform efficient and effective operations, and reduce the costs or losses because of business disruptions.
1.3 Report Scope
For the sake of determining the scope of this report, it is necessary to understand the company’s objectives a...

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...t are of expertise in manufacturing or other related areas.
For strategic and management threats, Kodak may need to train its staff, especially those managers who are weak in vision and strategy. For instance, managers can learn design methods to react correctly when the external environmental factors are changed (Fraser, 2007).
For the threats of customer and competition, it is essential for Kodak to do innovation through technological advancement. It not only can help company to produce the products effectively, but also helps Kodak maintain the competitive position in the marketplace. The company should adopt advanced features in its products to attract new customers and retain existing customers. In the meantime, in order to increase profitability and enhance productivity, the firm should also invest in the innovation to produce more qualitative digital camera.

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