This assignment is focused on the quality and its own implementation in the firm. The researcher has chosen Eastman Kodak company and he described the impact of quality on the businesses and functions of the company.
The company bears the name of its founder, George Eastman, who became interested in photography through the late 1870s while planning for a vacation from his job as a bank clerk in Rochester, NY. Going for a coworker's suggestion to produce a photographic record of his intended trip to Santo Domingo, the 24-year-old Eastman soon found that the camera, film, and wet-plate-developing chemicals and equipment he previously purchased were much too bulky. Rather than following through with his original vacation plans, Eastman spent enough time studying how to make photography far more convenient. He found out a description of the dry-plate process that was being employed by British photographers. He tried to replicate this process in his mother's kitchen at night after work.
After three years Eastman produced a dry glass plate with which he was satisfied. In 1880 he obtained a U. S. patent for the dry plate and then for a machine for preparing many plates at onetime, and he started manufacturing dry plates on the market to photographers. Henry A. Strong, a local businessman impressed by Eastman's work, joined him on January 1, 1881, to create the Eastman Dry Plate Company. Eastman left his position at the bank later that year to give his complete attention to the new company.
Quality Innovation Procedure for Eastman Kodak
As a CEO of the Eastman Kodak, I have analyzed the challenge areas of the company and then frequently I've discussed the issues like the global recession of the company, with the management. The combined decision making is very essential for the better performance of the business. As the key issue area of the Eastman Kodak is its low profit margin and share price due to the recession, therefore it is the need of the hour to introduce a well organized innovation procedure for the Eastman Kodak. For this purpose I've described the following innovation process of the Eastman Kodak to solve out the problem of the Eastman Kodak. The innovation process of the Eastman Kodak contains the following key factors.
2. 1 Mission of the Eastman Kodak
2. 2 Vision of Eastman Kodak
The explanation of the key factors of the innovation process is as follow
Mission of the Eastman Kodak
The mission statement is designed to pull together an organization's vision, values and strategy. Mission statement tells the broad reason for the operation. It offers a frame work into which specific objectives and project will fit.
Kodak has plan to grow quicker than its competitors by giving customers with the solutions they need to capture, store, process, output and communicate images. anywhere, anytime. We will derive our competitive advantage by delivering differentiated, cost-effective solutions. Including consumables, hardware, software, systems and services. quickly and with flawless quality. All of this is because of our diverse team of energetic, results-oriented employees with the world-class talent and skills essential to sustain Kodak as the entire world leader in imaging.
When the business will provide the better and ground breaking products and services to its customers, then you won't only maintain its current customers but also the new possible client and business will be started to raise the market share and share price of the Eastman Kodak. However Eastman Kodak is focusing on its short-term mission at the moment i. e. to increase its share price and also to overcome the recession problems. http://www. kodak. com/US/en/corp/careers/why/newvaluesmission. jhtml?pq-path=2217/923/10669/10677
Vision of Eastman Kodak
A vision statement is seen as a feeling of purpose that draws together all elements of an organization's efforts. The vision statement of the Eastman Kodak is
Eastman Kodak Company is to make measurable improvements in medical, safety and environmental aspects of our products, services and operations - and do so continually.
"To realize this vision, all Kodak operations and employees about the world interact to protect the quality of the environment and the health and safety of the employees, customers, and neighbors. To be a strategic framework to keep us on the road to our goals, we have established a business Health, Safety and Environmental Policy and Guiding Principles based on a series of Corporate Responsibility Principles". http://wwwuk. kodak. com/US/en/corp/HSE/VisionStrategy. jhtml?pq-path=7285
3. 0 Formulation of Innovation Strategies
"Innovation is the conversion of new knowledge into services and services. Innovation is about creating value and increasing productivity, and for that reason growing your business" http://www. 1000ventures. com/business_guide/innovation_mgmt_main. html
These innovation strategies will provide help to the company to increase its profit, market share, and earning per share as compared to its competitors. The innovation strategies of the Eastman Kodak are the following sub- progressive strategies.
3. 1 Innovative enterprise strategies
3. 2 Innovative corporate growth strategies
3. 3 Innovative venture Strategies
3. 4 Innovative competitive strategies
These innovation strategies that will provide a simple infrastructure to CEO of the company and the details of these innovation strategies are as follow.
3. 1 Innovative enterprise strategies
The innovative enterprise strategies provide the sustainable competitive advantage to the company. Successful companies focus their efforts strategically all over the world. The Eastman Kodak Company should set a stretch exercise, not really a fit exercise. To meet and exceed client satisfaction, the whole team of the Eastman Kodak must follow an overall organizational strategy. For this function, the CEO will connect to my management that they may formulate that technique for the enterprise which adds value for the targeted customers over the long term by constantly meeting their needs better than the competition of the Eastman Kodak. The ground breaking enterprise strategies will provide the best way to the Eastman Kodak to orient itself towards the marketplace where it operates and toward the others on the market place against which it competes.
The innovation strategies will provide the following advantages to Eastman Kodak.
Provide the resources of competitive benefits to the Eastman Kodak.
Provide the secure position to the business to keep its sustainability among the list of competitors.
Describe the key strategic priorities of the business.
3. 2 Innovative corporate growth strategies
"Innovative corporate growth strategy is a practical approach to attaining top-line growth and bottom-line results".
http://www. accenture. com/Global/Research_and_Insights/Outlook/By_Subject/Innovation/OutlookPOVMovingPerformance. htm
To achieve and sustain high performance, innovation must move beyond chance. The best companies set up the structures, processes and conditions that improve the likelihood that innovation will occur over the long run. The CEO of the company will implement the innovative growth strategy in addition with efficient technology strategy and quick speed of delivering the merchandise into the market. The organization growth strategies depend upon the data, not after the hardware.
The ground breaking corporate growth strategy will help the CEO and the management to examine or reformed their corporate policy and empower the management of the organization. For this function, the company can use the lean six sigma approach because Lean Six Sigma reach back to enough time when the best pressure for quality and speed are on manufacturing. Six Sigma emphasizes the necessity to recognize opportunities and eliminates defects as defined by the clients.
The innovative growth strategies of the Eastman Kodak can eliminate its global recession as these strategies focus on the business enterprise growth by increasing the client added values. Following are the key variables and advantages of the ground breaking corporate growth strategies.
Increase in customer added value
Managing innovation and software key skills together exploitation
New highly disaggregated business units or subsidiaries will form
Global outsourcing and service trading on huge scale
The success of the organization lies in understanding, integration and ability to control intellectual, technical and impressive resources.
3. 3 Innovative venture Strategies
The impressive venture strategies are those strategies that assist a business to make its alliance or ventures in whole business or some of the business' units. The Eastman Kodak Company can make its venture or alliance within its weaker continents and markets. For this purpose, the CEO of the company will try to produce a jv of the Eastman Kodak with some other company related to its industry. The income of the Eastman Kodak Company are already under pressure at the moment and there is likelihood that the joint venture can be well suited for the business and losing or failure of the business in these continents could be recovered. (Jane Henry & David Mayle, 2nd edition)
The ground breaking venture strategies are a good idea for Eastman Kodak to provide competitive advantage and for this function the shareholder value need sustainable competitive advantage, which distinguish the company from its competitors, and provide positive economical benefits Eastman Kodak can get competitive advantage and differentiation by identifying new products and services, beginning with core features within the companies who've succeeded to create new markets. Innovative venture strategies would be led to the better core competencies for the company and its own share price in its less profitable continents may increase.
3. 4 Innovative competitive strategies
Eastman Kodak can overcome the major problem of its global business recession by formulating and implementing the impressive competitive strategies. The marketplace challenger strategies can be useful in the theme of implementing ground breaking competitive strategies. Many market challengers have gained ground or even overtaken the leader. For this purpose, Eastman Kodak should follow the marketplace challenging techniques of some well reputed companies.
Example of competitive strategies
Toyota is producing more than General Motors and British Airways flies more international passengers than the former leader, Pan Am, did in its heyday. Airbus delivers more aircraft than Boeing. Challengers like Airbus set high aspirations, leveraging their resources as the market leader often runs the business as usual.
A market challenger must first define its strategic objectives and its own most aim ought to be to boost the market share. Same like Toyota, Eastman Kodak can attack its market leader in its low profit regions, but this may be risky for Eastman Kodak and can be resulted in the favor of Eastman Kodak if the first choice is not analyzing the challenger's trend and desires. (Philip Kotler, 12th edition)
Opportunities to improve competitiveness of Eastman Kodak
Following will be the opportunities to increase the competitiveness of the Eastman Kodak Company 4. 1 By Six Sigma
The management of the Eastman Kodak Company can improve its competitiveness within its leadership. The leadership of the Eastman Kodak Company can be increased by introducing the innovative and competitive briefing. For this function, the approach of Six Sigma is very helpful. Six Sigma is a proactive means of achieving in all business processes and gauge the performance or improvement in the financial profit. Six Sigma is a methodology for pursuing continuous quality improvement and reduce inherent variability. This approach develops the insights of customer expectations in the personality of the leaders of the business. The leaders of the Eastman Kodak can implement the essential methodology of Six Sigma by choosing right process for the business enterprise decisions within Eastman Kodak. Six sigma provides common goals to the leaders and approaches to problem solving within the business. The leaders of Eastman Kodak can form a transferable knowledge to al levels of employees and the moral of the employees will enhance which will be better for the efficiency of the company and it can contend with its competitors within an appropriate manner. Six sigma approach is the simplest way to improve the performance of the business of Eastman Kodak and its own customer quality. http://www. pstc. org/papers/pdfs/Osten. pdf
4. 2 IMPROVEMENTS BY TACIT AND EXPLICIT INNOVATION
The performance and quality of the Eastman Kodak products can be increased by implementing the tacit and explicit innovation. Tacit knowledge underlies many competitive capabilities. Tacit knowledge with innovative styles can provide a deeper insight to the management and CEO into the businesses and practices of the company. The business should follow the ground breaking tacit knowledge which include relationship, norms, values and standard operating procedures. Managing tacit knowledge is a substantial challenge in the business world and it needs more than mere knowing of barriers. Managers and innovation team leaders can use tacit knowledge to aid convergent thinking by creating guiding visions and concepts for teams involved with innovation.
The Eastman Kodak Company can improve its performance, share price and market share within its regional markets by introducing the techniques of innovation within its explicit knowledge. As innovation is the first application of knowledge in practical use. The surroundings of the Eastman Kodak should can be used to acquire global knowledge. The company should focus to get knowledge into use rather than just creating the data. The company can implement its impressive explicit knowledge within its products as well as services for the better competitiveness into the local and global markets.
http://info. worldbank. org/etools/docs/library/239735/DahlmanInnovationinAfrica. pdf
4. 3 IMPROVEMENTS IN DEVELOPING GREATER CREATIVITY
Creativity means that systems are able to self-evolve with no external intervention. Then we could define a system as creative in the event with the ability to evolve in a not known, not predetermined and not definable way. In other words it is not possible to foresee system's behavior just considering its input. The Eastman Kodak Company can improve its creative imagination by introducing and creating the innovative characteristics in the individuals and entire organization to attain the advantage over its rivals in its local and global markets. The following table is showing the creative imagination of the individuals and the entire organization regarding their low and high parameters and factors of creativity.
Organizations predicated on continuous development, on systematic research of efficiency
High rate of innovations
Few innovations, just imitations
Not effective organizations.
Low rate of innovations, sometimes radical, predicated on entrepreneurial spirit of individuals
http://www. diegm. uniud. it/create/Handbook/management/1_2OrganizationalCreativity2. htm
4. 4 IMPROVEMENT WITHIN THE CULTURE WITH THE COMPANY
The culture of the Eastman Kodak has leadership and loyalty for employees. The previous CEO of the has build-up a unique organizational culture for the Eastman Kodak Company in which the company is learned from its mistakes, and the ground breaking growth of the business is manufactured by developing the strong R&D environment in the company.
The CEO of Eastman Kodak should introduce the innovative and organizational developed culture in the organizational which would make progressive and flexible change bearing organization.
The new CEO and the management must be devoted to offer a strong and well-organized cultural environment in the Eastman Kodak where all employees flourish, and Human Resource policies, worker instruction and senior leadership shore up this goal. The visualization of the business must be empower and modern ideas creation for the complete organization.
An comprehensive culture for the Eastman Kodak can be build on the RECRUITING Principles for the purpose to value the self-esteem and significance of individuals, promote the proposals of every employee, challenge character functions and provide identical chance.
The management of Eastman Kodak wants to make a casual Information System which might share the information with the employees and get a feedback from them. For this function the management develops an Informal information System and that system tells us the quantity of people who want to share the information, the amount of information to talk about, and the amount of the time designed for sharing these details. This system demonstrates the key factor that, how much interest everyone has in using mail system to share information and this level of interest then influences just how many people share information and exactly how enough time they spend carrying it out. The diagrammatic representation of this system is really as follow;
Interest in sharing information
(The Informal Information System by Virginia Anderson & Lauren Johnson)
According to Stephen P. Robbins and Mary Coulter, organizational culture is a system of shared meaning and beliefs held by organizational members that determines, in large degree, how employees act.
Management of Eastman Kodak can build a strong organizational culture in conditions of developing work specialization, departmentalization, and chain of command, span of control, decentralization and formalization in the surroundings of the company. Management of the Eastman Kodak can alter one or more of these structural commands, e. g. the departmental duties of the Eastman Kodak could be combined, organizational level eliminated, or span of control widened to make Eastman Kodak flatter and less bureaucratic. The management of Eastman Kodak can raise the decentralization of power to make its decision making faster.
4. 5 IMPROVEMENTS IN MARKET SHARE AND CORE COMPETENCIES
"The management of Eastman Kodak should give attention to its weak areas and revise its planning and strategy in its low profitable continents such as Europe. More the target focus results more the complex and custom-made the Eastman Kodak will be".
(David L. Kurtz 2nd edition)
In this era of technology, globalization and progression, all the entities of Supply Chain Management, customers, consumers etc, want comfort and convenience. Eastman Kodak is providing each one of these facilities up to the satisfaction of its Supply Chain, however the important thing is the consistency in providing the convenience to all or any of its Supply Chain Management, buyers, consumers, customers and prospected customers. The factor of handiness can provide the superior edge to the Eastman Kodak in the introduction of its market share Eastman Kodak should be convenience provider atlanta divorce attorneys facet of its competencies such as dividends providing, salaries of employees, environmentally friendly, health and safety laws, internal and outside environment of the company, providing services to the consumers and customers, dealing using its suppliers, competitions among its competitors. By doing many of these ethical issues of convenience total the continents, the global image of the Eastman Kodak will be improved and the marketplace share and core competencies of the business increase.
Customers want to get hold of what they want and who they wish for anytime, from anyplace. Eastman Kodak should focus on the convergence oriented and this convergence can be attained by concentrating the current and customers. The management and the new CEO must focus on this convergence factor giving equally focus on the markets of all regions. "Innovation, horizontal and vertical growth in all the continents could possibly be the key tools to attaining the concentration of the main element customers and business groups in the scenario of the globalization".
The market share and share price of the Eastman Kodak can be increased by strong advertising campaigns. For this function, the company should use every major medium to provide their message to the clients. The best channels of advertising for the Eastman Kodak could be television, internet, magazines, newspapers, carrier bags and billboards. When people listen and view the strong advertising of any product, they choose the product of course, if the merchandise or service matches their expectation, then they becomes the regular consumer of that product and the psyche of those consumers turned into their loyalty get back product or service.
5. 0 SWOT Analysis
5. 1 Strengths
Kodak is the first company who developed first mega pixel electronic image sensor with 1. 4 million pixels
Kodak ahs launched some diversification initiatives in imaging and life sciences with several new imaging ventures
Kodak got a respected position in commercial imaging system that scanned, edited and prepare images for printing
Kodak has launched a number of services for electronic publishing, scanning and editing for the printing and publishing industry, including image link.
Kodak has become a leader in image storage and retrieval systems
Its information system provided computer-assisted storage and retrieval of microfilm image
Kodak has a range of data storage devices
Kodak is supplying batteries and videocassettes with the joint venture of Matsushita
Kodak has acquired IBM's copier services business
5. 2 Weaknesses
Kodak has been facing problems in providing the image technology to its customers
The brutal income in a few markets resulted by the Kodak's lack of experience with collapse of the photographic business.
Kodak has too little strategies to differ its digital business from its traditional business
5. 3 Opportunities
With the assistance of its digital business, its revenue will be grown
Its new digital imaging can give it edge over its competitors
Kodak can attain maximum gain providing mass production at low cost
Can foster growth and development through continuing research
Reinvesting profits to create and extend the business
5. 4 Threats
Different and complicated market of digital imaging
Strong array of competitors
Still grave doubts are existed about the Kodak's future capabilities
6. 0 CONCLUSION
Eastman Kodak is one of the most innovative company of the last century
Eastman Kodak has an evolving culture, however the parameters of that culture are traditional based
Eastman Kodak has supportive management environment and its has efficient TQM
The company has long term partnerships with its customers and suppliers
Eastman Kodak has slow growth in Europe and has less profit margin in these regions
Many senior managers left the company due to inefficient approach of previous CEO
The new CEO has introduced Quality based progressive strategies to improve the market share of the company
Strong advertising is adopted by the company to increase its sales income by the new CEO
The company is concentrating on its better quality to realize potential business and customers
7. 0 RECOMMENDATIONS
The management of the business should rely independently rules and regulations to fortify the company rather than practicing the experiments
Eastman Kodak should keep its technique to introduce the progressive and new product into the market
The Eastman Kodak should adopt the more quality based competitive strategy to become market leader in the Europe market
Eastman Kodak can adopt the marketplace challenger strategy in the European market but this strategy is based on the risky and high return involvement
The company can make alliance or venture using its leading competitor in its low profit regions and markets
The company should adopt low cost strategy to attain maximum market share
The benchmarking of the price leader company can be chosen by the management of the business to realize more profit and business
The company should introduced the luxury products for status quo people
The company should involve all of its employees in your choice making which technique will strengthen the company
The company should attract more folks to purchase the company through its commercialization and marketing campaign.
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