Life: Photographic Film and Eastman Kodak Company
Kodak and Fujifilm
Assignment 1: Kodak and Fujifilm
Gyongyi Molnar
Professor David Penkrot
Strayer University- BUS 302
November 3, 2013
Describe the history and core business of each company.
Kodak, formerly known as Eastman Kodak Company, was founded by George Eastman in 1888. The company’s early success was based on the launch of its revolutionary camera which simplified the photo taking process (Kodak, n.d.). Kodak’s main focus was photography and imaging, and its products ranged from photography equipment to film, paper and color chemicals. By the 1980’s, Kodak’s market share reached an amazing 90%. Although they developed the basic technology for digital cameras in 1975, the idea was dropped due to fear that it would threaten the company’s film business (Williams, 2013). Because Kodak executives could not imagine the world without traditional film, they failed to realize how fast digital cameras would become common; the technology started to spread and film sales dropped considerably at the late 1990’s. The slow transition to digital technology, denial of the declining film usage, and competition from other companies eventually lead to Kodak’s loss of market share both in the United States and worldwide, placing Kodak at a 7th position. In January 2012, the company filed for Chapter 11 bankruptcy protection, and a year later the Court approved financing for them. Kodak sold many of its patents to a group of companies such as Apple, Google, Microsoft, and others.
Fujifilm, a Japanese company, was founded in 1934. They also focused on photography and imaging. The company soon ruled the Japanese market, which was ranked second after the United States in film usage. Eventually, the company entered the global and American market with a bold move, using aggressive marketing and low prices. The turning point of the Fujifilm’s success in this venture was marked by the 1984 Los Angeles Olympics, when they became the official film of the event. This placed
Assignment 1: Kodak and Fujifilm
Gyongyi Molnar
Professor David Penkrot
Strayer University- BUS 302
November 3, 2013
Describe the history and core business of each company.
Kodak, formerly known as Eastman Kodak Company, was founded by George Eastman in 1888. The company’s early success was based on the launch of its revolutionary camera which simplified the photo taking process (Kodak, n.d.). Kodak’s main focus was photography and imaging, and its products ranged from photography equipment to film, paper and color chemicals. By the 1980’s, Kodak’s market share reached an amazing 90%. Although they developed the basic technology for digital cameras in 1975, the idea was dropped due to fear that it would threaten the company’s film business (Williams, 2013). Because Kodak executives could not imagine the world without traditional film, they failed to realize how fast digital cameras would become common; the technology started to spread and film sales dropped considerably at the late 1990’s. The slow transition to digital technology, denial of the declining film usage, and competition from other companies eventually lead to Kodak’s loss of market share both in the United States and worldwide, placing Kodak at a 7th position. In January 2012, the company filed for Chapter 11 bankruptcy protection, and a year later the Court approved financing for them. Kodak sold many of its patents to a group of companies such as Apple, Google, Microsoft, and others.
Fujifilm, a Japanese company, was founded in 1934. They also focused on photography and imaging. The company soon ruled the Japanese market, which was ranked second after the United States in film usage. Eventually, the company entered the global and American market with a bold move, using aggressive marketing and low prices. The turning point of the Fujifilm’s success in this venture was marked by the 1984 Los Angeles Olympics, when they became the official film of the event. This placed
References: February 2, 2013 Running head: KODAK and FUJIFILM 2 * a focus on the customer (Kodak Eastman, 2013) With these principles The Kodak Company soon became one of the most successful companies of its time * Reactive Follower * Customer & Quality as the prime focus (Class, 2011). Business Teacher.org. (n.d.). A Case Study of Kodak. Retrieved 02 02, 2013, from Business Teacher: http://www.businessteacher.org.uk/free-business-essays/a-case-study-of-kodak.php Class, S Finance, Y. (2013). Eastman Kodak Company Company Profile. Yahoo! News network. Fujifilm. (2011). Corporate History. Japan: Fujifilm. FUJIFILM. (2013, 02 02). Corporate History. Retrieved 02 02, 2013, from FUJIFILM.Com: http://www.fujifilm.com/about/history/corporate_history/ Kodak Eastman Williams, C. (2013). Managememtn. Mason: Cengage Learning.