Kodak Strategic Management Strategy
The traditional approach to strategic planning assumes that top executives, by using the applicable tools, are able to predict the future of any business in an accurate manner. Based on those predictions they should be able to choose directions and build clear strategy. The reality often shows that the future is not so easy to foresee. The process often underestimates uncertainty causing the problem with protecting a company against the threats but on the other hand missing the opportunity advantage that is provided by the level of uncertainty. It is always possible though to trust the instinct, once all the traditional tools and analysis performed fail – but the result is still uncertain...
Building the strategy and implementing strategic
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The shapers intention is to play a leadership role in establishing how the industry operates (setting the standards/creating demand); mostly applicable for level one industries. One of the best examples is Kodak that in 1980s was the one of the most successful companies. Kodak has effectively collapsed, what was caused by the numerous invention in the area of digital technologies, whereby they should maintain their strong position by distributing the film-based products, for the possible longest time period. The managers of Kodak should in that case adapt to the future trends instead of trying to shape it. Often, when having the strong brand, the company can use innovation of someone else. The latter is the adaptation posture. The adapter’s strategy, as just mentioned is to react through the flexibility and agility in recognizing and capturing opportunities in existing markets. UPS is a good example in being successful in adapting to FedEx’s model of overnight delivery, once it turned out to be successful. UPS’s market share lost its market share, nevertheless still topped the industry. Needless to say, the market and the industry was much bigger after FedEx’s innovation. Reserving right to play tends to be a modified of adaptation, that is relevant in levels two to four. This posture involves investment sufficient enough to stay in business but in the same time to avoid premature commitments, what allows planning a strategy and re-optimising in the future after an industry becomes less uncertain. This posture is used by companies in pharmaceutical industry. In order to reserve the right to be present on the market of gene-therapy, the companies acquire smaller players or building alliances with biotech firms possessing the appropriate expertise. These actions enable the access, at low-cost, to the latest development in the
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