Kodak and Fujifilm Essay Example | Topics and Well Written Essays - 1500 words - 1

Kodak and Fujifilm - Essay Example The founder of Kodak, George Eastman, an American, was dedicatedly fascinated on still photography and cameras. He patented photographic film to be stored in a roll in 1884 and after four years he had developed the first camera in the world of his invention and started operating in London. Subsequently, gradually the company became the global leader and started to dominate in the global market which has transcended beyond a century. In 1975, firstly, the company brought in significant change in the world of photography inventing digital camera. However, after 1984 in the photographic industry Kodak noticed profound changes in relation to the behavior of customers but still it remained indifferent about the changes in technologies and marketing strategies. As a result, in the 21st Century, it had to stop to manufacturing of a number of products one by one for being unable to sustain and owing to a lack of demand of the products. Finally, in the year 2012, the company filed for bankrup tcy (Beaudette & Palank, 2013). Fujifilm, a Japan based company was established in 1934 and within a decade it spread its landmark in the global market with the incorporation of effective strategies and continuous modernization of technology. In 1980, in keeping with customer requirements and to ensure its sustainability in the global market, the company made a switch from the film to digital market. As a result, it was able leverage huge amount of money from the film business and gradually reached the pinnacle of success in the photographic segment (Fujifilm Europe, n.d.). Core Business of Kodak and Fujifilm Kodak is a well known organization in the photographic film products, equipments, materials, digital imaging and services. Another principal business of Kodak is Kodak international-financial & banking business (Francis & Nias, 2012). The primarily business activities of Fujifilm entail to be involved in the development, production, sales and services of the color photographic film, digital cameras, color paper, photofinishing chemicals, graphic arts materials and equipments, medical imaging equipments, optical devices, photocopiers and printers. By the availability of these varied products, segmentation and innovation, it has captured a big global market after 1990s and has become a market leader in the photographic world in recent times (Fujifilm Europe, n.d.). Compare And Contrast About The Approach Of Management Of Both The Companies To Embrace Innovation And Management Differences That Have Impacted The Relative Success Of Kodak And Fujifilm In the global market perspective, the key dimensions of ‘change’ and ‘innovation’ are the key determinants of success to sustain in the competitive business world. These two factors are the main reasons for the downfall of Kodak and pinnacle of success for Fujifilm in the photographic market. Though Kodak entered in the market of Japan in 1905 but the management of the organization did n ot take the market seriously for strengthening the distribution system, marketing strategies, segmentation, and for making customers needs and demands assessment. After a long period in 1977, it started to focus to strengthen the marketing chain, distribution system and advertising. As a result, it became one of the best photographic product producers of the year in Japan by