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Literature receive on Disruptive Technology: How Kodak Missed The Digital Photography Revolution

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Abstract

Kodak's introduction of the digital revolution was creative and capable of defeating the evil forces. A common belief throughout numerous relationships that bringing digital transformation to a firm will revolutionize it is a realistic concept. In Kodak, there is a general instance. The Kodak R&D department first unveiled the central digital camera in 1974, and as a result, it finally released the central single-lens reflex camera in 1989. The middle film and production firms see the new invention as a goliath wager. Fisher committed to transforming the business fast from a compound-based company to a technology-based enterprise. Fisher asserts that the best method for controlling a partner's compensation and the company's profitability is to invest in digital technology. He finished several changes both internally and internationally as a result. Fisher internally divided Kodak into numerous divisions because he felt it was necessary to convert the company's vertical structure to a horizontal one. By doing so, Fisher neglected to take into account the challenges brought on by the systematic adjustments. Systematic adjustments need for a high level of learning and working inside an organization. Fisher was also never able to decide where to place the photographic elements. Fisher was incredibly baffled by the film industry that could be safeguarded more and continually reestablishing the opening with the other enticing companies and was unable to comprehend the benefit in the power of being completely digital. Nearby, Fuji was successful in initiating a dialogue with Kodak and gaining significant additional market shares and profitability, all the while decreasing Kodak's profits.

The overall film market share showed that Kodak's market share fell to 40% from 50% during Fisher's leadership, while Fuji succeeded in increasing its market share to 30% from 20%. The corporation faced a significant threat from Japanese businesses and US-based digital technical organizations in the digital industry. Kodak needed this component and was unable to choose to develop technical drive because of the fascinating problem that the enticing businesses were consistently accomplishing to draw in items at astonishingly unnecessary prices. Making room that Fisher concentrated on the fact that Kodak shared well in all types of image viewpoints, including picture acquisition, limitation, result, planning, and human growth, but he neglected a significant amount of interest components. The business made a massive investment in this area for a total of 5.7 billion USD, but it did not take long for camera phones to gain traction in the consumer market. Kodak's resistance to shift in terms of its capacity to produce and market film using digital technologies became a barrier to its growth while other connected firms practically adapted to new technology. If the corporation had succeeded in transforming itself to produce and sell film before Kodak, it would have continued to be cognizant of its dominant position in the market. To make up for the crippled in limit, Kodak also created a core project remote from the camera social event. However, the rethinking management was unable to achieve the spreading out of outside information to the own internal knowledge, which was necessary for additional innovation. The misalignment of Kodak's structure was greatly impacted by complacency as such. Despite making enormous investments in its R&D and maintaining a cordial connection with customers, the corporation was brimming with complacency.

Introduction

The chosen article titled as, “Disruptive Technology: How Kodak Missed The Digital Photography Revolution” by (Henry C. Lucas Jr and Jie Mein Goh, 2009).

This study fills a gap in our understanding of how businesses respond to pressure from massive improvements in technology that upend their usual, successful course of action. A reference to (Christensen, 1997)'s "theory of disruptive technologies" is made in the goliath or expert case study of the Kodak Company. "Eastman Kodak faced difficulties that may have affected the company's existence as well as its ability to grow in the future. To claim that George Eastman founded another industry is an overstatement in both the beginning and the conclusion. He obtained a patent in 1879, which served as the security for photography's ability to recall rolls of film. In less than ten years, his new business began distributing and promoting Kodak cameras for unskilled visual professionals. The Eastman Kodak Company had sold 100,000 cameras by 1896. George Eastman Kodak spread out his business in New York in 1889, but it now has its headquarters in Rochester. The corporation has depended on product-mix expansion in the last five years in digital and image from amateurs to create coordinated well-informed experts, particularly in prosperity imaging, In depictions correspondence in addition to focusing on cutting-edge display gadgets and components. Additionally, they began manufacturing inkjet printers, ink cartridges as their primary obsession, and quick business inkjet printers in 2007. Since product mix expansion was the prior innovation adopted by Kodak and brought about them in high advantage primarily until the 1990s, but by then after that they have been doing fighting to stay on their feet and even went bankrupt in the late 1990s and expected to get moves in millions by respectability of the rot of products and not having the choice to remain mindful of competitors like Apple, Canon, and Epson who are outrunning them in digital imaging. The method to be used over the next five years is to reduce the product mix, while also thinking twice about cameras in mobile phones, smartphones, and tablets. Since product mix expansion was the prior innovation adopted by Kodak and brought about them in high advantage primarily until the 1990s, but by then after that they have been doing fighting to stay on their feet and even went bankrupt in the late 1990s and expected to get moves in millions by respectability of the rot of products and not having the choice to remain mindful of competitors like Apple, Canon, and Epson who are outrunning them in digital imaging. The method to be used over the next five years is to reduce the product mix, while also thinking twice about cameras in mobile phones, smartphones, and tablets.

The 20th century was Kodak's most successful period, with 90% of its pie coming from camera sales and 85% from visual film sales in the US, despite the fact that in the late 1990s company began to struggle financially. As a result of its goods losing money and a $60 per plan shortage in 2004, it made the decision to cease producing still cameras and switch to producing digital ones. The firm invested millions of dollars and returned to the market in 2007 with AIO (All in One) ink stream printers. Part of the focus was on inexpensive ink cartridges rather than printers, and the company is currently aiming to slowly eliminate the digital camera industry.

In the 1980s, a time when Kodak rules the globe. In Philippine culture, there has long been a financial exchange for "pictures." We can not deny that Filipinos have incredible social affluence; they valued spending time with their friends, especially at the heights of the workweek. Additionally, they have everything set up such that when events occur, everyone gathers to celebrate significant holidays like Christmas, weddings, and anniversaries. These extraordinary events may be seen with only one tick thanks to Kodak. Kodak Company's solid districts for central for developed for a name strong region for epic for and have been a model in photography in all situations. Consequently, they rank as one of the top consolidated picture print yields. Additionally, due to the existence of a few booths on one side of the nation and then on the other, the free film business in the nation was influenced, and Kodak took the lead and gained recognition outside.

Most evidence points to Eastman Kodak as the example of a relationship that has not changed quickly. In 2005, the corporation, which in 1981 had revenues of almost $10 billion US, had a net growth of just US$139 million. Additionally, Kodak's image reputation fell drastically. A typical US$2.6 billion was lost as a result of the association's image respect declining. Different variables were acknowledged as playing a significant role in Eastman Kodak's terrible deterioration. The primary issue that contributed to Kodak's demise was the company's tendency to base its management decisions on outdated ideas, which prevented it from demonstrating the best motivation for integrating digital technology into its digital communications division. Another significant failure in the execution of change occurred when Kodak's management failed to realize that it needed to continuously monitor the changes taking place in the environment and then quickly take small continuous steps towards the completion of a specific change in the hopes that assessment would reveal that it was actually ideal appropriate for the overall moderate prosperity. The following sections will conclude a point-by-point explanation of what ultimately proved to be astonishing at Eastman Kodak and what are the feasible, obvious advancements that may be made. Although the business anticipated that the industry would undergo significant change and that new technologies would emerge, Kodak did not adapt to these developments. One of the main issues was Kodak's method of market research for the digital goods. Although there was no market for the new digital photographs yet or at least it was in its early stages, the corporation concentrated on the conventional methods of market research, which involved closing market size and development limits. By doing this, the corporation muddled the significance of the data gathered by the R&D teams and eagerly leaned on the data gathered by the marketing team. The offensive thing was that they connected the digital framework to whatever degree would be fundamental and completely disregarded how the technology and customer needs will develop over the course of the next several years. The reason why this research will be conducted is to understand the process that lead to backruptcy of Kodak. The process will start from understanding the disruptive technology, leading with the strategy implemented by Kodak and what was the reason for failure of Kodak.

The greatest strategic error made by Eastman Kodak's management was its complete failure to foresee the demands of making time. The management at Kodak was ecstatic to be left with the old goods and perspectives while the rivals around them were constantly developing and preparing new items as demonstrated by the shifting market demands. The management's approach to working with associations on strategic problems was a key factor in the startling downfall of Kodak. As time passed and savage competition began to emerge, Kodak proved the necessity of switching its middle business technology from silver-halide film technology to digital technology. RTP was successfully used by Kodak in its early years when RTP was the central perspective being customary by leading affiliations all over the world. This requirement to anticipate change and adhere to RTP was a major strategic error made by Kodak's management, which Eastman's management might have easily avoided. Kodak managed the association's strategic concerns by employing the Generative Thinking Perspective (GTP). Another contributing factor to the alliance's slow tangle into an amazing gateway was Kodak's inability to adapt to the altering electrical and crazy movements market. The affiliation's administration, led by Daniel Carp, was unable to foresee the other alliance's impending wager on the introduction of such a unique product. In 1981, Sony Corporation introduced the Mavica, a filmless digital camera that should have served as an early warning sign for Kodak's management. However, the company's senior management failed to foresee the impending signals of a letdown. When the 1980s came around, a provocative management gathering would have embraced the Continuous Renewal Perspective (CRP) and started moving towards a full social event of digital technology ambitions. The CRP monitoring system would have greatly aided Kodak in retaining its position as the unchallenged market leader in the camera sector. The troubles of Kodak's management do not end here. Years later, when digital technology has completely taken over the camera manufacturing industry, the management is still uncertain about whether it should or should not opt for DRP as it joins the management in acknowledging the degree to which it is essentially not used.

Aim

This study depends on understanding the factors causing Kodak's market share to deteriorate in order to make the decision to issue one more notice before it is too late to restore Kodak's strategies and profitability in light of the article "Disruptive Technology: How Kodak Missed The Digital Photography Revolution" by Henry C. Lucas Jr and Jie Mein Goh.

Research questions

The researchers need to know the responses to the following questions as Kodak struggles to overcome its bankruptcy and the erosion of its market share:

  1. What led to the business's insolvency in the last decade of the 1990s?
  2. What problems has the business run into that prevent it from seeming successful during the revolution into digital photography?
  3. What could have been the strategy by Kodak to continue in the photography industry?

Literature review

Disruptive technology

The term "disruptive technology," as used by Christensen, refers to another technology that, although having lower cost and performance as compared to industry norms, has greater auxiliary performance. According to Christensen, disruptive technologies have the potential to enter the market, create strongholds for massive, serious companies, and eventually target widely dispersed items in their conventional marketplaces. While crucial, this beginning is also maintaining in a number of ways.

Christensen ignores other discontinuous patterns of change that can be equally important or more so by adding the overall "attack from below." Furthermore, even in Christensen's early writings, the fundamental idea of disruptive technology was not simply that it may hinder the diffusion of goods. Instead, it is a reliable area that is important for consistently creating marketplaces and providing fresh comfort.

According to Christensen's theory of disruptive technology, the assistance of another market component serves as a conduit for the new product to reach the market's cutting edge or early adopters. The spread out product in its typical market is where the innovation starts to go from the early to late more distinct piece of customers. Here, we show a hypothetical situation in which a more advanced and expensive invention is introduced to the market segments with the greatest potential for growth before moving on to the mainstream market.

As a result, he refers to "adroit good management" as the factor that determines the default in adaptation. The establishment of affiliations and the asset distribution procedures that pay them for their services allow them to justify intrusive approaches.

Despite Christensen and Overdorf's (2000) recommendations, he provides a system consisting of resources, procedures, and values to deal with disruptive changes. Here, resources include people, technology, product design, money, stuff, and affiliations; processes determine the firm's plans and operational patterns; and values produce the standards that experts use to distribute decision-making boundaries. He goes so far as to say, "Managers construct procedures with the purpose that experts do efforts in a consistent method undeniably exactly as expected; they are not meant to alter." The primary initiatives for defeating these technologies are those that shorten market research and slacken down economic estimates in the context of the company's cadenced development condition. As the professionals highlight their qualities by focusing on their clients and the orders, which include the enticing level of any notion, they use values to join the lifestyle of the foundation. All of this contributes to the way of life of any establishment, expressing the goals and needs while encouraging any innovation.

Kodak's Digital Imaging Strategy during 1992-2012

One of the American technology companies, The Eastman Kodak Company, produces other camera-related goods with a few of its residential areas dedicated to photography. The enterprise's major settlement was established in Rochester, New York, and further solidified in New Jersey. Enterprise Inkjet Systems, Micro 3D Printing, Print Systems, Software, Packaging, and Solution are all businesses that Kodak is a part of, close to Consumer and Film (Harris, 2014). It has been discovered that Kodak's visible level management pays close attention to technology advancements in imaging during the 1980s. In essence, Kodak Alliance is committed to a digital imaging strategy that has been further fixed from the standpoint of its CEO, George Fisher (MacKnight, 1995). From 1992 through 2012, the association supported a digital strategy that further aimed to transform the company from a conventional visual firm into a forerunner in the burgeoning digital imaging industry.

The goal of this change was to transition from direct technology to digital technology, from a long design cycle to quick prototyping, from current gathering processes to flexible social occasion processes, from regard areas of strength for basic for considering to regard thinking about digital strategies for example "product + consumables + services," from goliath scope making, enormous inventories to practically all competing, just set up, again attempted products, and from high-end to low-end products. The business intended to produce digital cameras rather than film-based ones as part of this approach. The building blocks of the technology should be developed by the company's researchers. The business unveiled the Advantix Preview film and camera structure in 1996 (Lucas Jr and Goh 2009). The clients were able to see their images and see how many prints they would need. In reality, it was produced with paper and picture film. Later on, nevertheless, management relaxed in order to support the wise strategic choices. A section on printed pictures, a consistent viewpoint on managing the shift to digital imaging, the social occasion of traditional photography business, outside knowledge acquisition through picking, alliances, and acquisitions, as well as a few strategies for the consumer market, were used to illustrate the main strategy adopted by Kodak Enterprise.

Reason for Kodak’s failure

In addition to performing poorly financially, research shows that Kodak failed to connect with the emerging digital photography industry. How many business failures increased progressively between 2007 and 2011 from 343 to 506 when they occurred with preparations made before interest and charges. The failure of Kodak to implement its digital strategy in respect to becoming a direct fosterer of the broadly prevalent capacities to compete in the field of digital imaging was another problem that Kodak examined. In light of major challenges, Kodak's market was absurdly poor, which helps to explain why things are bad for the company. According to research, Kodak's aim for supporting its market as a forerunner in the digital photography industry was wholly unfulfilled (Moon 2019). The primary factor in Kodak's demise is the existence of digital technology, and the management was not adaptable to the digital market by paying little attention to how the client's envisioned digital cameras would be produced. The following are a few factors that led Kodak and its management's adopted strategy to completely fail.

High change reluctance: The Kodak employees were very resistant to change since they did not find additional motivation for their work, which prevented them from performing any more tasks beyond those that were required of them by their job description. The staff's lack of enthusiasm for learning new things served as the primary impetus for the failure of Kodak's major strategy.

Lack of advanced technology setup: Kodak lacks an advanced technology setup, which is why they struggle with innovation and a lack of freedom in the R&D sector. In light of the division of its advance technological strategy, Kodak's rivals adopted new technologies quickly, while the company has production problems while shipping its new camera goods.

No innovation in strategy: The connection's adopted strategy lacked any originality at all, which further lowered its success rate. In essence, inability to implement new and restored technology-based devices was another major factor that contributed to the total failure of the adopted Digital Imaging Strategy between 1992 and 2012.

Poor strategic judgment: According to studies, Kodak made business mistakes by overlooking opportunities in digital photography (Ho and Chen 2018). The staff at Kodak did not demonstrate any enthusiasm for organizing and reestablishing themselves with technological advancements, which is crucial because it has been found that no technology preserves areas of strength for enormous, serious, or exceptionally ought to be vivified with ongoing redesign in the area of technology to make the company qualified to stay aware of its competitors. Additionally, the strategic failure was the quick justification for Kodak's very obvious demise, such as digital photography, which ultimately destroyed the alliance's economic model dependent on film.

As technology and mobile phone use continue to advance, it has been seen that the makers of cell phones have begun to incorporate sophisticated cameras into their devices, further reducing the need for Kodak cameras as they are more expensive to purchase than a cell phone. Kodak wastes a typical opportunity to develop fresh plans for boosting sales of its cameras and imaging equipment. The team's concessions to launch a new product and the lack of creativity in their ongoing business strategy are appropriately the primary causes of this disaster.

Strategic management tools

Product market mix

One of the most important tools for marketing strategy and strategic management is the product market mix, which is used to examine four aspects that might break an alliance, and these factors in the context of the Kodak association are discussed below this section fundamentally approach.

Price: Kodak now uses a competitive product study approach and sets the prices of its products in accordance with this important strategy. The fact that Kodak prefers to charge more for its goods than its competitors has a terrible influence on the customer base and payment speed of the relationship since customers tend to seek out businesses that can provide them with top-notch goods at more affordable prices. Kodak produced cameras and other devices with extra components that were not introduced by its competitors since it liked to raise the price of the products to its benefit. In order to create a client completely remembered to be the disruptive strategy, Kodak is also utilizing the product pack studying approach, as seen by the way the items are packaged together and offered at cheaper prices than the single pricing of similar products ( Koen et al. 2011). Additionally, the association offers an alternate product research method for a selection of its goods in which the alliance delivers the price of the base product unreservedly and distinct pricing for the guidance of basic products to maximize financial gains. Given that the association included the expense of development to the client's doorstep when selling things online, the costs of the goods are expensive. Kodak prefers a fixed cost strategy for a certain class of products, therefore customers should not anticipate seeing such items. By explaining the aims of the products and setting clear allowances from gaining a large market share, the relationship with the customer may be maintained. Additionally, Kodak Company might choose a different mental examination approach to get the most benefits.

Place: In addition to using a direct strategy for coordinating customers and selling products through the alliance's website, Kodak also offers its goods to wholesalers who can then distribute them to a variety of retailers across the nation, allowing customers to access the product through these middlemen. The association has adopted a serious marketing strategy in which the company's experts try to sell their goods to a large number of merchants with the primary goal of increasing their total sales rate. Kodak furthermore employs an omni-channel distribution strategy, whereby the company has combined its two types of physical and online storefronts to provide customers access to a wide range of the company's products right once. The Kodak Company's experts should establish up company-operated true blue stores where it would be crucial for them to provide their customers with a wide range of goods (Yuzawa et al. 2018). This strategy would also save the organization a staggering amount of money because there would be no distributor or retailer margins to worry about when trying to build the planned company-backed store.

Promotion: Kodak uses a variety of media outlets to promote its products among a goliath clientele on every continent where it now operates and plans to do business. The organization is also leaning toward the use of social media marketing tactics, which is really simply picking the use of a constant, reliable online connection, which is a significant necessity for every partnership these days. Given that the marketing team of the affiliate is fully aware of utilizing these social media complaints, Kodak uses a few social media apps, including Facebook, YouTube, and Twitter, to promote its goods. In addition to successfully participating at a few events and trade exhibitions, Kodak also offered proposals to increase the sales rate in the company's legitimate storefronts.

Product: According to research, the Eastman Kodak Company marketed its goods under five broad categories, with each sale contributing to the success of another product line (Gershon 2013). The customers are provided a massive product selection, making it easier for them to choose the goods with enthusiasm. Eastman Kodak's goods are extremely constrained when you take shifting customer demands and market trends into account. In order to maintain itself in line with the most recent technical trends and draw a massive clientele to the association's five-star products and services, Kodak Alliance management constantly updates its technological approach. The items Kodak introduced are seen as being extremely crucial since it is crucial to distinguish the products of the connection from those offered by the rival alliances. It is widely known that Kodak's goods are of a superior caliber than those of its adversary alliances. Additionally, it has been observed that Kodak's customers are willing to accept a higher price tag for the product because of the superior quality Kodak conveys. Kodak enjoys making improvements to its ongoing product designs, but it should focus on introducing technologically advanced and novel products that are separated from the products and designs that are already selling by them in order to retain the largest possible customer base and even to accelerate the association's rate of remuneration. Kodak could also refine its product packaging so that it is simple to ship the goods to customers without much concern for their intelligence.

Relevant Theories

The hypotheses offered by Christensen are explained in the table below along with their applicability and interpretations in light of the Kodak situation.

Theory of Christensen’s

APPLICABILITY

INAPPLICABILITY

Items that are dependent on difficult innovations are frequently less expensive, easier to use, more modest, and often more advantageous.

Advanced cameras were first more expensive and large; over time, they grew less expensive, easier to use, and more modest.

Digital cameras transformed photography more than the actual curio since they allowed everyone to take a picture and a photograph was merely one way to display the picture. Digital photography also altered how images were distributed, shared, and replicated online.

ABOVE AND BEYOND MARKET INTEREST, INNOVATIONS CAN PROGRESS.

 

It suggested that the market interest in digital cameras was stimulated.

“…investing aggressively in disruptive technologies is not a rational financial decision for them to make…By and large”, A PROBLEMATIC INNOVATION IS FIRST ACCEPTED BY THE MARKET'S LEAST PRODUCTIVE CLIENTS.

As digital cameras decreased and more straightforward to utilise, shoppers took on them. Not satisfactory in case they saved on photography or not, however the providers of imaging administrations changed

Kodak thought at first that the primary market for digital photography would be the expert picture taker, not the novice shopper. It put vigorously in digital items, however didn't deal with that venture well ($5 billion when Fisher showed up).

THE BEST PERFORMING ORGANISATIONS... ARE VERY PROGRESSIVE IN THE FRAMEWORKS THEY USE TO KILL THOUGHTS THEIR CLIENTS DO NOT NEED. THESE ORGANISATIONS BELIEVE THAT IT IS VERY DIFFICULT TO PUT SATISFACTORY ASSETS IN DIFFICULT INNOVATIONS LOWER-EDGE OPENINGS THAT THEIR CLIENTS Do not NEED UNTIL THEY NEED THEM. By that time, it has also beyond the point of no return.

Kodak belittled the speed with which the buyer portion would embrace digital photography

Kodak appeared to be overlooking clients; it zeroed in on film since it was agreeable thus beneficial. The organisation had a simple, science outlook and couldn't think carefully

GREAT ADMINISTRATION BY ITSELF WAS THE MAIN DRIVER, WHICH IS THE EXPLANATION. THE GAME WAS PLAYED BY THE DIRECTORS IN THE CORRECT MANNER. THE CYCLES THAT REJECT PROBLEMATIC ADVANCES ARE THE EXACT DIRECTION AND ASSET PORTION PROCESSES THAT ARE THE WAY INTO THE ACCOMPLISHMENT OF SET UP ORGANISATIONS.

Kodak appears to be more in a state of denial than ever. This explanation may have initially discouraged them from participating, but Kodak began to promote a computerized method long after it was obvious to everyone else that it needed one.

Senior management provided funding for innovative products, but center directors disregarded the troublesome innovation.

GIVE ASSOCIATIONS WHOSE CLIENTS NEED PROBLEMATIC ADVANCEMENTS RESPONSIBILITY FOR THEM.

Kodak made an effort at a new hierarchical unit.

Kodak carried on organizing and putting everything back together. Information suggests that when a different alliance was formed, the computerized component and traditional photography actually fought for resources.

THE CENTRE CHIEFS SHOULD DECIDE WHICH THOUGHTS THAT RISE IN OR TO THEM THEY WILL SUPPORT AND CONVEY TO UPPER ADMINISTRATION FOR ENDORSE, AND WHICH THOUGHTS THEY WILL JUST PERMIT TO GRIEVE. THEIR RESPONSIBILITY IS TO SEPARATE THE GOOD FROM THE BAD AND TO IMPROVE THE GOOD THOUGHTS SO MUCH THAT THEY ROUTINALY SECURE SUBSIDIES FROM SENIOR ADMINISTRATION.

Kodak's center managers made it difficult to switch to more modern

Senior administration made several attempts to alter the way the center was run, but these were largely unsuccessful. In this case, it was not senior administration thinking about the center administration; it was the other way around.

Change in Christensen’s Disruptive Theory

According to the concept, management affinities can mobilize dynamic endpoints about change and combat focus rigidities by affecting the relationship's primary. What would have come of this ongoing conflict at Kodak?

The core failing at Kodak, according to the creator, was the inability to manage change: marshaling dynamic endpoints to effect change or successfully combat focal rigidities revealed dissatisfaction. George Fisher was used by the Kodak directorate to effect change, assist in transforming Kodak into a digital business, and create a digital viewpoint. Fisher added a new division of Digital and Applied Image for the company's imaging activities. At some point, Fisher appeared at Kodak's "networks and consumables" model. The business would engage in the imaging industry with clients, emailing pictures, printing photos using Kodak printers and paper, and using Kodak print corners.

Conflict of Interest among Stakeholders

Employees at Kodak might prioritize their personal interests over those of the firm. Conflicts between Kodak's workers and the powerful corporation have the potential to hurt the firm in its dealings with third parties to the degree that decisions or inquiries made about those dealings also influence how the employees conduct company business. Employees may also complete rehearsals that result in solitary loyalties (Prenatt et. al 2015). Given the behavior of the master's family, such a conflict of interest may occur. Potential conflicts of interest among employees can be grouped into financial interests and social events involving compensation from other sources, such as parties or businesses. Regarding the goliath responsibility, the master's close family member can have a considerable financial stake. In this context, the term "substantial financial interest" refers to a possible or actual investment or ownership. It excuses the insurance ownership that is listed on a reputable stock market, as well as all of the delegate's and his/her close family members' security assets, which represent less than 1% of Kodak's striking assurances. An immediate relative of a Kodak master might, with rumors unaffected by the company's interest, go as a boss or go without inquiry as a Kodak delegate about a social event of pay from a distance. An immediate family may have a conflict of interest if they function as a courier, mediator, or finder for transactions, are chosen as an outside vendor to carry out Kodak's services, join Kodak's property or vital methods for private concern, or use their own property to run Kodak's business. One potential area of conflict of interest between customers and Kodak Mix is the postponement of a product or affiliation. A customer could be pushed to the point where the person being referenced requests a discount. Despite the fact that Kodak probably will not need to justify a late vehicle, the customer's perspective might trigger precaution. An important step is to express regret and assure the person that the problem is being addressed. Giving the customer a discount on future purchases or offering them free transportation is a smart move to help them relax or figure out what is going on.

Methodology

Research Philosophy

The research philosophy used for this literature review is Positivism. Positivism is a philosophy that holds that only information that is "factual" and derived from observation (the senses), including measurement, is reliable. The researcher's responsibility in positivist investigations is restricted to the gathering and impartial analysis of data. In other words, the researcher approaches the topic as an impartial analyst who dissociates herself from personal values. Research outcomes in these kinds of investigations are frequently observable and quantitative.Quantifiable observations that result in statistical analysis are necessary for positivism. For many years, it has dominated the fields of business and management research. As a philosophy, positivism is said to be in line with the empiricist theory that knowledge derives from human experience.

Research Stategy

Without a doubt, the quantitative research approach is standard for the field. The study strategy is dependent on accessible and transparent data. Additionally, in each of the talks that are held more closely together, the topic materials are described at a crucially important level. In qualitative research, the data collected appears to be of a high level. It functions in the flexible plans in an astonishingly simple manner. The intricacy of the data might be considered in the findings of qualitative research. promotes a full grasp of the elements that make up human personality and behavior. It is essential to achieving significant societal change. The qualitative investigation keeps an eye on taking into consideration each person's uniqueness. The systematic approach of doing research is referred to as research methodology. In numerous types of research, monstrous tactics are employed, and the phrase is typically thought to encompass study design, data collection, and data processing. When we look at research methodology in relation to a research issue or study, we typically find answers to the following questions: Why a research study has been embraced, how the research issue has been portrayed, how and why the hypothesis has been sorted out, what data have been collected and what unambiguous strategy has been taken on, why express system of keeping data has been used, and an incomprehensible social event of relative various questions.

Design

For this research we will be collect research papers from google scholar based on the timeline that is all research papers written in last 10 year. In grand words, research technique is utilized to make it clear what the researcher is trying to accomplish with their work. Research technique creates the ideal environment for the researcher to display the research work in congruity to create sound game-blueprints, allowing for planning at the optimal times and advancing the research effort. The researcher is also guided by research technique to establish and be active in their own area of investigation. Even if the aims and flow of the study may alter, the research's goal and focal point are typically not inherently problematic, this may be accomplished by using a sound technique.

Essentially, addressing research philosophy in your dissertation entails identifying and forming your assumptions and views. The identification of research philosophy is located at the outer layer of the "research onion," as shown in the image. The research methodology guides the researcher through every step of the process, from choosing the topic through doing the study. The chance of the appropriate research approach is what supports the full research strategy. Additionally, through the research methodology, the outside world is the research by giving an overall thought to setting the proper research objective, followed by making perspective, considering that picked analysis through interviews or study openings will be received finally closed the message by this research. A researcher should create a research approach for the topic they have chosen. One should examine if the research approach is unique depending on whether the research strategy taken into account for two concerns is appropriate. The researcher should be familiar with both the methodology and the research techniques that are crucial for the current research project.

Paradigm

The research methodology encapsulates the internal environment by comprehending and observing the appropriate research, strategy, thinking, time horizon, and methods, followed by the appropriate systems and procedures taking their research work into account. Additionally, the research methodology serves truthfully as the operational center point considering how it limits the scope of the complete study. To produce high-quality work, both the internal and external environments must adhere to the proper research methodology approach.

Research methodology refers to the process of gathering data for research undertakings. For example, management research may be strategically conceptualized in close proximity to operational planning technique and change management. The data may be pooled for either speculative or conventional research. The veracity of the research data, ethical considerations, and the conviction that a substantial portion of your task is completed after the data analysis is complete are a few other crucial components of research technique.

The investigation done here uses both primary and secondary sources. The primary sources are Technical reports from Kodak and secondary sources are journal articles, reviews, and academic books. They obtained yearly reports from Kodak, read the creation to aid in an accurate timeline of the key developments in digital photography and Kodak's response to this novel technology, and looked back at earlier Kodak problems to gauge changes in public relations and methods. People from an inspection group visited Kodak as part of a manager experiment with IT-driven reforms, and they spoke with two delegates the company was willing to make available to us. Additionally, as part of the more important research, we invited Carly Fiorina, the former CEO of HP, to expand on her excellent analysis and observations on Kodak's strategy for experiences with digital photography. During this time, we made a presentation establishing focused examination, books, and a taped collection with one of the Kodak CEOs.

Discourse analysis offers an entry-level systemic technique for genuine researchers who place emphasis on constructing reasonable sentences that are both reasonable and inter-convincing.

Discourse analysis's speculative framework strongly relies on a "constructionist epistemology," which believes that language is significant and productive rather than sharp and ordinary.

This approach offers several action plans for comprehending how the goals and objectives that interact with the social world are consistently met. Traditional enormous systems aid in analyzing the social reality that exists now. It assists in concentrating in on tactics of "social growth" and maintains awareness of other significant exams employed for the theory of alliance and management as needed. As a connection between the plan of content that brings anything into this ongoing reality and the associated displays of content show, flow, and cutoff, this fills a requirement that is not quite clearly established. In this approach, it combines the methodical analysis of show content with usage of flow and use that confirms the relationship between discourses, as well as widely shown experts and producers in relation to social reality. Discourses may consist of discrete frameworks with outlined texts, audibly communicated words, images, stories, or other perceivably meaningful materials.

ResearchGap

It is important to spin around the specific mad stuff since it interacts with other substance and relies heavily on other discourses. They are goliaths, and the methods used to produce, attain, and make use of them are beasts. Before his retirement in 1925, George Eastman underwent a number of changes. In essence, Eastman's viewpoint focused on restoring development and development. This was accomplished using a variety of strategies, such as making sure that exams were passed, treating employees fairly and with respect, and reinvested profits into the company to fuel its growth. However, Ivan Boesky and his friends took a number of risks to acquire control of the business throughout its rise in the 1980s (Gebremeskel Tesfaye. and Nguyen 2012). The company's planning managers made an effort to protect the corporation from its scale by acquiring the influence of irrelevant businesses. These obligations for the corporation, which are the focus, total $7 billion. The expected growth from the advances did not occur. In the unnecessary digital areas, George Eastman lacked the necessary beast bounds to prevail. Kodak's purchases of inconsequential enterprises turned out to be completely unprofitable over time, creating a huge debt for the company's most remote and uttermost reaches. Focus shift was another issue at Kodak. For instance, Fujifilm of Japan, its main rival, was expanding its market in the United States while the straightening out management concentrated on getting buyers and following with efforts of action and approaches. Additionally, digitalization was starting to become a legitimate problem at the time. Sony's Mavica range of digital cameras was discontinued in 1981, making it famous for the potential Kodak disaster. Kodak then decided to launch the circular film lens in 1982 rather than shifting their attention to digital photography at that time (Vinokurova and Kapoor 2013).

Disruptive technologies are tolerated by large corporations because of their successful decision-making and resource allocation procedures. A paradigm for managing disruptive change that shines a spotlight on resources, procedures, and values is presented by Christensen and Overdorf (2000). People, tools, technology, money, product designs, and affiliations are all examples of resources. Values are the criteria that workers utilize especially far when making judgments, while processes are the technique and operational patterns of the company. Managers create procedures with the intention that workers carry out tasks consistently and should not vary. The background processes that the organization uses to gather plans and financial plans, market research, and interpret it into financial predictions are some examples of the key processes that are altering as a result of disruptive technologies. As they finish up, employees regularly demonstrate which orders are more significant, what needs consumers have, and whether a concept for a different product is appealing. The lifestyle of the alliance is the behavior of these traits. Culture demonstrates what the organization can and cannot achieve, and in this way, it might act as a brake when another innovation is present.

As proposed by Christensen, middle managers at Kodak did not act as a barrier to examinations that air pocket up from lower levels of the relationship to determine what to require top management. With everything else being equal, middle managers disagreed with digital photography when considering a variety of criteria, which ultimately hurt their ability to keep their employment. Fisher and the other top management members were unable to overcome these rigidities. Kodak had significant solid regions for enormously significant for varied, yet at this time its talents in film processes confused those in digital processes. The techniques Kodak administrators created for gathering five-star film and printing paper were incredibly successful. As such, Kodak possessed a variety of technological resources that worked together for its success in the film industry, including expertise in science, film manufacturing, and licensing for its methods. Additionally, there were stand-alone resources in place for publicizing initiatives and one of the most recognizable brands in the world. The obvious path for Kodak was via film. For express staff, digital technology truly swung things around in a brand-new way. In Kodak's instance, a century-long wager on film-based technology failed in lieu of a transition to new technologies. In response to digital photography, Kodak's focus rigidities clearly replaced the focus competences that were previously a threat to its performance, notably in the positions of middle managers.

Data Analysis

Findings

The Sony Corporation created the first significant digital camera in 1981. It was the most significant digital still camera ever made. This was made feasible by academics creating a link between how digital photography and TV function. The significant digital camera had restrictions regarding the ability to capture images on a little plate that might be seen in a video viewer or a social gathering printer. However, there were unfortunate flaws in this Sony camera that made the images of a couple look sad and disturbing. The camera lens's knowledge was also shockingly lacking. When Kodak released the first professional digital camera with a 1.3 megapixel sensor in 1991, it was the final major advancement in the development of a professional digital camera. However, photojournalists and media sleuthing typically employed these cameras. Apple Inc. introduced the entry-level consumer digital camera, and other companies soon followed. Further developments took place, and most recently, better resolution cameras have been delivered. Additionally, cellphones are currently integrated with a digital camera, a state-of-the-art that was first developed in 2000 when the first camera phone was created. Action cameras have begun to evolve in response to new innovations, usually for shooting outdoor activities.

According to information shared on the research, Eastman Kodak claimed financial bankruptcy security in 2012. The action of attracting markets has also addressed the company's disastrous sales performance. Kodak never came to a decision regarding film, paying little attention to the developments and taking the lead in the digital photography revolution with cameras and services. Kodak closed 130 processing laboratories, 13 collection facilities, and 47,000 workers between 2003 and 2011. Since about 2004, it has not increased yearly, and its financial reserves were quickly drained. In general, the researchers will have strategies from the beginning of the entire month of October in 2014. The company's strategy for 2012 was to position itself as a business and customer inkjet printing provider. This would put it at odds with a number of the then-current printing businesses, including Seiko Epson, Hewlett-Packard, and Samsung. Eastman Kodak was ranked fifth among all commercial printing brands in 2011 with a market share of about 5%. By 2013, Eastman Kodak was expected to undergo a transition. The average capital was to be obtained from a variety of sources, including account holders' secure supporting plans and fees associated with adopting patents. Following the baffling first three months of 2012, SG&A definitely decreased by $84 million, with the specific time period during the prior year and liquidity improving by $500 million following $600 million in fresh cash flows. However, the catastrophe caused by ongoing ventures made before interest, retry charges, and capital expansions was fundamental and emerged obviously apart from a comparable era in 2011. Antonio Perez, the CEO of the company, examined the issue at that time and recommended that they take actions like watching via financial affirmation and leaving firms that do not produce increases throughout the quarter. The only safeguard for this was to hasten their transformation and, by 2013, to have a very successful and viable firm.

Product lifecycle of Kodak

Introduction stage: This is the major stage of the Kodak affiliation's product life cycle chart, which is connected to four key elements including product, pricing, distribution, and promotion. Instead of producing film-based cameras, the business had intended to produce digital cameras. Advantix Preview film and camera system, which allowed customers to preview their images and displayed the quantity of prints they need, were released by the business in 1996. The business really created, utilised, and produced picture film. Later on, though, management lost focus on making the best strategic choices. Kodak employs a fixed cost approach, a competitive product price strategy, and a fixed cost strategy. Kodak prefers to utilize its official website for product distribution, but for product promotion, the company's marketing executives prefer to use social media applications and systems alliance websites.

Growth stage: Kodak prefers to be informed about the supplemental components of its photography devices during the product's growth cycle. Kodak's experts work to control its price methods in accordance with customer preferences. As a result, Kodak gathers the dispersion channels as customers' interest in their products grows.

Maturity stage: At the maturity stage, Kodak further develops the product components to distinguish them from those being sold by its rival competitors, such as Sony. The relationship has currently adopted a fixed cost price approach. Inspirations and Intensives are wonderful because of their connection to client proclivities that drive customers to their own items.

Decline stage: As sales of the kodak product fall, the corporation must make certain options. For example, it may decide to collect the items, lower the price, trade the excess inventory, or provide the excess inventory to another alliance that wants to use the product to help with catastrophes.

Gap analysis: The business intended to produce digital cameras rather than film-based cameras under the right now adopted strategy. The company's experts need to make the technological checks more alive. The business unveiled the Advantix Preview film and camera system in 1996. The clients were able to see their images and see how many prints they would need. In reality, it made use of material, paper, and picture film. Later on, though, management lost focus on making the best strategic choices. Overall, it will be acknowledged that the association did not adopt cutting-edge product design and collection methodologies, which had a significant negative influence on the alliance's brand value, clientele, and reduced pay rate.

Game theory: This is a strategic management idea that Kodak's relationship may use to explain how its rivals in the market would continuously respond with broadened product pricing and product classes. Businesses mostly employ this theory to research how people respond to and behave in various choice situations. Kodak might pursue strategic business decisions with regard to an efficient product price strategy, client and master upkeep approach, as demonstrated by this game theory of strategic management.

Daniel Carp was appointed CEO of Kodak in 2000, and the corporation immediately focused on its role in digitalization. Carp made reference to digitization resources with $3 billion in investments in, among other things, web-based photo services, digitally operated cameras, printers, and photographic grade printing paper. The company's total compensation decreased to $13.2 billion, while its net expansion fell to $76 million. Carp thought up game-strategies to rationalize the business difficulties by promoting disposable cameras as well as films in moving approaching markets. The corporation reportedly reduced its employees once again to cut costs. Most astonishingly, the corporation paid $4 billion in 2003 since the digitization industry had turned profitable after a remarkably long period of experiencing catastrophes. Daniel Carp was replaced by Antonio Perez in the year 2005. Antonio Perez, who served as the interim head working power, has been a part of the team from its inception in 2003. Antonio had managed the expansion of the printing division at Hewlett-Packard for a significant amount of time before joining Kodak. One of Perez's most notable executive actions as CEO was inviting the company's senior executives to a social gathering. This move represented a break from Kodak's custom of implementing changes only after surrendering reviews. He wanted to do rid of the issue with how slowly the organization conducted exams. Financial friends were promised by Antonio Perez that, in light of digitization, the company's compensation would increase four times. One of the key goods promoted when Perez assumed power was Kodak's EasyShare-One digital camera, which could entice customers to download photographs, generate print sales, and communicate visual messages effectively. The EasyShare printer dock was the other innovation, which allowed customers to print images at home amicably.

Discussion

According to studies, the future does not involve some idiotic scheme for interstate digital information flow. In essence, it is the methodical advancement of specialty photography through the skillful use of a few digital technologies. Digital cameras had just a small portion of the market by the end of 2000, and it was also evident that most visual images had already largely replaced analog film. Kodak's extensive inventory has to be updated or replaced in light of technological advancements and changes brought on by the ongoing digital era. Finance is also an almost limitless resource because it forms the foundation for all other resources in a corporation. It affects a company's growth as well as its expected efforts in general. Another enormous resource is creativity, which serves as both the company's production head and the beast for the future. When George Eastman adopted the razor blade method at Kodak, cameras were marketed at cheap rates in order to transmit the benefit, which included sales of films for the cameras. Eastman Kodak was negatively impacted by the digital era to the extent that they hinted at financial stability in 2012. Their failure to adapt to changes brought about by technological growth contributed to their collapse. Kodak was in a position to assume dominance over the digital age since they were the first organization to discover digital cameras. They understood that nothing could ever truly be as well known as the movie, but they stuck with it since it was at the time imparting so many benefits. 1981 marked the beginning of the revolution brought about by the digital era. The top filmless digital camera, the Mavica, has been discontinued by Sony. Kodak failed to recognize the fundamental growth in value of film. If Kodak had recognized the need and made the necessary improvements when its designer discovered the digital camera back in 1995, they could find themselves in a different scenario now. They took their time admitting that a strategic shift should be made. Finally, when they saw that change was necessary, they took an absurdly broad stance in an effort to consider responding. Since few other producing breakthroughs are also intended to benefit from untouchables, it is typical that the riches that destroyed Kodak originated from outsiders. Any organization that wants to succeed must insist on new capabilities that prepare for the not too distant future.

All businesses in the electronic equipment and digital imaging industries get their basic materials from large vendors. These monopolistic suppliers have the potential to reduce Eastman Kodak Company's total market margins. Strong providers in the market might raise prices by using their ability to sort. This also helps to temper the fighting to deal with supplier power. Eastman Kodak must address the problems that are mostly caused by the model nature of determining supplier power. In order to address these problems, Eastman Kodak must constantly link its effective and profitable inventory network with other suppliers. The corporation also has to investigate other options for developing new products using a variety of materials, so that if the cost of one durable material increases, it may switch to another.

Customers should avoid best liabilities by acting on insignificant or optimal cost while as frequently as possible implying that the firm provides good services. As a result, Eastman Kodak's profitability will suffer over the long term. The trading power of consumers and the capacity to look for setting boundaries would both increase the more astonishing and limited the alliance's customer base would be. The corporation has to build a massive clientele in order to deal with the obstacles imposed by the buyers' bargaining power because doing so will reduce their total planning power and open up new doors for them by simplifying their sales and manufacturing processes. Additionally, the launch of new items would aid in lowering the diverting of Eastman Kodak's current clients to other consumers.

The general profitability of the industry advances to a significant degree as soon as one additional product or association properly resolves the client's complaints in various ways. When an alternative product or service is ready to supply incentive that is remarkably not unambiguously distinct from current obligations provided by the industry, the stakes are really high. To address these difficulties, Eastman Kodak should fundamentally forge alliances as opposed to relying just on product partnerships and by understanding the unique needs of consumers rather than merely concentrating on what the customers are purchasing.

The total prices would drop and the profitability of the industry would be much reduced if the competition and conflict among the numerous current competitors in a given industry were genuinely severe. In essence, the Eastman Kodak Company operates in a highly competitive environment. The block imposes an enormous burden on the alliance's long-term prosperity.

The research mentioned here is from reliable and optional sources. We perused the piece of vivify that depicted an accurate timeline of the key developments in digital photography and Kodak's response to this new technology after receiving yearly reports from Kodak. We examined previous Kodak websites on www.archive.org to get a sense of how marketing and strategy had changed over time. As part of a larger project on IT-related developments, members of the research team visited Kodak and conducted interviews with two of the company's workers. We thus requested Carly Fiorina, the former CEO of HP, to include her early analysis and remarks on Kodak's history with digital photography as a part of the more focused research. During this time, we offered a displaying watch research, books, and a taped interview with a Kodak CEO (Ho and Lee 2015).

According to Christensen, disruptive innovations generally result in goods that are more practical, more user-friendly, and smaller than conventional items. Digital cameras were once a pointless trend that persisted, but makers quickly addressed their functionality and continued to cap prices. As previously stated, digital photography represented a product change in the acquisition, presentation, and display of images. Kodak drastically underestimated how rapidly demand for this novel technology would grow. According to Christensen's argument, investing in potentially disruptive technology will lose out to firm resource allocation procedures. However, Kodak invested massive sums in digital photography as opposed to his plate drive industrial strategies. In essence, it never really had anything to show for it. Kodak spent $5 billion on research and development for digital imaging before Fisher arrived, but the results were irrelevant (Chevreux et al. 2014). The corporation had 23 innovative digital scanning projects in development at one point, with sales and product development spread over more than twelve divisions.

Management affinities choose the outcome of the conflict between concentrate rigidities in viewing a basic technology and solid regions for fundamental for enormous for. This conclusion is a development of studies demonstrating the importance of managers in analyzing company performance results. Managers must interact with a plan that emphasizes the response to a disruptive technology and they must disseminate this plan throughout the organization. Senior managers need to become used to new technologies and promote the idea that change is crucial; they should spearhead the change effort. Therefore, supervisors should assist subordinates in developing ideas that provide value to the company. They should demonstrate to others in the group their vision for the company and oversee how the new business model and all its ramifications are handled by the staff. We refer to these management actions as tendencies or managers' propensities to act with a certain goal in mind. Complexities emerge as a result of the disruptive technology development and lead to divergent managerial cognitions at various management levels. Senior managers will categorically encounter focal length employees who exhibit focus rigidities and newer employees who are striving to develop and take advantage of the firm's strong endpoints when they expect it is enticing to transform the general course of a company.

Conclusion and recommendations

Recommendations

Managers at Eastman Kodak might have utilized Porter Five Factors to identify the several competing forces that most significantly affect overall profitability and support the creation of a successful plan for growing the Eastman Kodak firm. People in the electronic equipment and digital imaging industries bring a significant amount of innovation and new methods for carrying out various tasks, which puts incredible pressure on Eastman Kodak Company through alternative perspectives, such as lower pricing strategies, cost reductions, and offering redesigned benefit examinations to a significant portion of customers. New competitors face very low risks. In order to maintain its competitive advantage, Eastman Kodak must focus on overcoming these obstacles and gathering them. Eastman Kodak must work on a variety of goods and services to handle the risks posed by new customers. Such items would not just attract new clients; they would also encourage current clients to continue doing business with the company. Additionally, the business may have achieved this by establishing efficient economies of scale with the aim of fixing cost per unit.

Alternative strategy

Eastman Kodak Company needed to create a scale so it could better compete in order to meet the difficulties imposed by its rivals in the digital imaging sector. Instead of always vying for a smaller share of the market, it may gently cooperate with diverse rivals to increase the size of the total market. An alternate method that would have enabled unambiguous and consistent change may have been sought for by deconstructing all five competitive factors. Game-changing patterns should have been obvious well in advance and can perfectly respond with a goal to exploit the developing productivity with the aid of evaluation of diverse factors. By thoroughly examining and analyzing various components, Eastman Kodak may have developed a new approach as needed. This would have made it possible for the alliance's overarching plan to achieve outstanding success. Instead of sending a consistent model where one aspect of the business is modified at a time, an unmatched alternative technique would have been used. Giving a systematic plan for modifying the present business process would be possible as a result. The period from 1992 to 2012 saw a fast growth in digital technology. During this time, cellphones with digital cameras built in such as Apple, Blackberry, etc. began to become more popular (McCandless 1998). The use of digital cameras spread quickly. In order to do this, the company's researchers need to have an understanding of recurring trends and be able to adapt to changing market conditions. The teams should be able to control them close by.

What can be changed?

The most common misconception about Eastman Kodak is that its leadership were blind to how much of a threat digital technology would pose to the company's broader conventional business. However, the Kodak issue is inherently complicated, and there might be significant results. Companies like Microsoft, Sony, and Walt Disney might benefit from Eastman Kodak's failure to understand the entire implications of technological progress, which seriously jeopardized the company's operations. The fact that diverse occurrences are changing in a confused way is one of the most incredibly unsettling problems. It also provides a few key models that might be used by different firms. Second, the rate at which film was continuously being replaced by digital media was being closely monitored by Kodak management.

However, a number of circumstances came together that made it very difficult for Kodak to build a customer base that would be financially viable during a vital time period by changing the item dental transactions (Tellis 2006). Every case differs from one another from a vast array of angles, but there are certain Kodak experiences that, in particular, bring specific sobering concerns for managers who are dealing with significant technology-driven change. Some of these include the following: Is the middle technology being completely replaced by another level of universally robust technology, and is this replacement taking place? If this is the case, the firm may see a significant decline in its total production size as well as other early-mover advantages that would help to significantly reduce the legacy of a manufacturing learning curve.

Is the technology that keeps track of different company endeavors and operations prepared to transition to a mostly digital and express stage that will decrease the total entrance barriers? In the event that this is the case, the firm should take proactive steps to survive on such lower margins since the type of commoditization would be fundamentally certain.

Exist any capital-intensive legacy businesses? If it is large, the organization could come up with a plan that focuses on reducing output volumes, which is fundamentally effective in terms of capital and controls the entire manufacturing costs from increasing unreasonably. This might lead to the use of outdated machinery and the reuse of other manufacturing resources to draw alternate goods.

How does the overall distribution of power in the ecosystem alter as different parts of the continuous value chain are affected by technological progress? This should have been understood to mean: Will the pursuit of other objectives lead the business to operate in a manner that is blatantly at odds with other long-term interests? Strong districts for epic would necessitate careful consideration and well-informed decision-making over how the ecosystem's helpers will handle the development and modification of strategy.

In a similar manner, other businesses have gigantic representations that can be attributed to Eastman Kodak's strategic failure. The managers of the various alliances might abide by the aforementioned query, which would aid in the creation of an efficient commercial plan. The adoption of an efficient plan can help any association maintain its credibility and reasonability over the long term. In light of this, undergoing a significant technology transition is a complex process that has to be managed with extreme care (King and Baatartogtokh 2015). The above-mentioned questions will help relationship managers identify various aspects of existing business that will have an impact on the creation of an incredibly successful and realistic business plan.

Innovative Strategy: When a business employs a strategy that is extremely difficult for rivals to imitate, it is deemed effective. Managers should devote their resources in order to get a competitive advantage over rivals. This strategy's point of view illustrates Kodak's choice to usher in the digital revolution. By that time, Kodak's main competitive advantage was its cash-cow photographic film division. Conquering strategy as a method of putting together a competitive advantage is unquestionably effective in a corporation where the surrounding environment is long-term stable. This kind of climate is fleeting right now, and there is not really a good explanation for what will happen. The components in many areas have changed as a result of the ongoing technological advancement. Most people do not consider strategy to be one of the key focal abilities for gaining an advantage. Now, businesses need to concentrate on the significance of strategic innovation management. A company's core goal is to compete in established markets using its own technology while also searching for new markets to enter with the newest ones.

Innovation Portfolio:

In the end, businesses trust them to be portfolios of goods and services. The firms should view their product portfolio from a balanced viewpoint. The firm's liabilities that coordinate all three types of innovation are found in a balanced portfolio. This is a recipe for achievement and a plan to make sure the association is operated with a constant second, medium-term, and long-term outlook. Nagii and Tuff examined a 70-20-10 enticing formula that the businesses may use for a well-balanced portfolio. This demonstrates the necessity for businesses to concentrate on innovation, with 20% going toward covering innovation and 10% going for major innovation (Gershon and Albarran 2013). Every company dealing with disruptive transformation in the middle market must take into account a balanced portfolio.

Innovation Management: The significance of the innovation management, which is shifting away from those that are being used to manage the middle things, is something that leaders must also take into account in addition to a balanced portfolio. Unmistakable innovation involves visualizing the future and suggesting plans, goods, and services that do not already exist in their ongoing duties and business model. Consideration of tried-and-true business models is one of the main tenets of innovation management. Goliath innovation, on the other hand, speaks to the business strategy that ensures is considered as crucial to contribute.

CONCLUSION:

KODAK, which formerly held the title of market leader, faced bankruptcy in 2012 due to several inadequate change and innovation management practices. The ability of the company to sort out changes in market segments, conflicts, client needs, and future trends is crucial in today's quick-paced corporate environment where technology is ruling everything. The business, however, struggled to keep up with the demands and requirements of clients who were always changing. The goal of Kodak's digital imaging strategy from 1992 to 2012 was to transform the company from a traditional photography company into a market leader in digital photography. It is continually suggested to Kodak to adopt a diversification approach by providing clients with fresh, cutting-edge products by focusing on niche areas. Increased diversification does not guarantee the company's improved performance and success. The business should rely on market research, innovation management, and monitoring future trends.

The management team must understand the potential hazards and benefits of new data and communications technologies and set boundaries for change. This reform attempt must include combating focal rigidities, the association's lifestyle, and bringing in all levels of personnel worked with; otherwise, it will fail. This historical review of Kodak keeps in mind the suggested extensions of Christensen's theory, particularly the necessity to alter the organization and its way of life in the face of a disruptive technology.

Since filing for bankruptcy, Kodak has focused mostly on the commercial printing industry, selling a number of product lines to businesses with medium- to large-scale printing operations. Kodak also produces workflow applications for controlling the entire print production process. For companies and directors who prefer film to digital, Kodak still produces motion picture film. Only a small number of Kodak's actions are directly handled by them. Most items with the Kodak name are produced by other businesses under trademark licensing agreements. Kodak currently has a sizable business in this. This contains certain equipment and cameras that are no longer produced, as well as a range of clothes featuring vintage Kodak branding.

The price of certain full-frame DSLR cameras now is more than that of some vintage film cameras from the past. Prices for some camera models have risen 25–50% year-over-year as more people purchase the available cameras. Today, film photography is mostly practiced by amateurs. Since the world was initially amazed by the first image shot with a camera in the early 1800s, the medium has advanced in power and become more widely available as the tools of the trade have changed. What distinguishes modern digital tools from earlier daguerreotypes, tin types, and Polaroids is that they have made photography a part of daily life. Unlike previous innovations, digital photography has not rendered earlier methods obsolete even if it provides instant satisfaction and the potential to put professional equipment at your fingers. More photographers are choosing to shoot using traditional cameras instead of their cellphones or DSLRs. (Some people actually never ceased using film for their photography.) Film has a lasting, real appeal and is making a resurgence among pros and amateurs alike, just like vinyl, typewriters, and other analog technology. The most dedicated even go as far as developing their own prints in the darkroom. So still are still alive and moving forward forward from their lost existence.

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