KODAK AND FUJI FILM
Kodak and Fujifilm
Management Concepts
Professor Nekia Hackworth
Ife Morrison
5/8/2014
In 1879 George Eastman traveled to London to obtain a patent on his plate coating machine. The patent was granted a year later. Once the patent was granted Mr. Eastman got an investor at the name of Henry A. Strong. Soon after, Henry Strong and Mr. Eastman decided to go into business together. They created a company called Eastman Dry Plate Company. At that time Mr. Eastman quit his job as a banker in order to devote his full attention to his new business venture. Eastman Dry Plate Company was innovative for its time. Mr. Eastman was the first to announce that film could be put on rolls. This attraction to the filming industry made Mr. Eastman a true pioneer in the business. In 1884 the business became known as the Eastman Dry Plate Film Company. The company had 14 shareholders; something that was very rare for its time. It has been noted that Eastman Kodak Company was built on different principles. The principles included mass production at low costs, international distribution, extensive advertising, and a true focus of customer service. They also held principles of business which were foster growth and development through continuous research, treat employees in fair self-respecting ways, and reinvest profits to build and extend the business. Mr. Eastman believed that employees should have more than just good wages. In 1899 he gave bonuses to all of his employees. This act of kindness and generosity was unheard of in his time. He later created wage dividends to which each employee benefited in to the proportion of the dividend of the stock. He believed that businesses became successful by their workers not necessarily because of their inventions or their patents. In 1919 Mr. Eastman gave 1/3 of his holdings of the company’s stock to his employees; which was in the excess of 10 million dollars. He also established retirement annuities,
Management Concepts
Professor Nekia Hackworth
Ife Morrison
5/8/2014
In 1879 George Eastman traveled to London to obtain a patent on his plate coating machine. The patent was granted a year later. Once the patent was granted Mr. Eastman got an investor at the name of Henry A. Strong. Soon after, Henry Strong and Mr. Eastman decided to go into business together. They created a company called Eastman Dry Plate Company. At that time Mr. Eastman quit his job as a banker in order to devote his full attention to his new business venture. Eastman Dry Plate Company was innovative for its time. Mr. Eastman was the first to announce that film could be put on rolls. This attraction to the filming industry made Mr. Eastman a true pioneer in the business. In 1884 the business became known as the Eastman Dry Plate Film Company. The company had 14 shareholders; something that was very rare for its time. It has been noted that Eastman Kodak Company was built on different principles. The principles included mass production at low costs, international distribution, extensive advertising, and a true focus of customer service. They also held principles of business which were foster growth and development through continuous research, treat employees in fair self-respecting ways, and reinvest profits to build and extend the business. Mr. Eastman believed that employees should have more than just good wages. In 1899 he gave bonuses to all of his employees. This act of kindness and generosity was unheard of in his time. He later created wage dividends to which each employee benefited in to the proportion of the dividend of the stock. He believed that businesses became successful by their workers not necessarily because of their inventions or their patents. In 1919 Mr. Eastman gave 1/3 of his holdings of the company’s stock to his employees; which was in the excess of 10 million dollars. He also established retirement annuities,