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Subject Code : MGMT501
Country : Saudi Arabia
Assignment Task

Turnaround Kodak George Fisher

George Fisher Works to Turnaround Kodak George Fisher is the first outsider ever to become CEO of Rochester-based Eastman Kodak Co. Fisher was recruited in 1993 from Motorola, where he was CEO, to take the helm of the troubled photography giant. Kodak has been suffering from declining earning, slow growth, heavy debt, and a demoralized work force. A big part of Fisher’s job is to plan a strategy for troubled Kodak. Over the years, the company had envisioned that its photographic technology might some day become outmoded and had done some preliminary work on digital images. However, many in the company were concerned that going in the digital direction would destroy Kodak’s core photography business, which relies on selling film and development process. Indeed, at this point in time, the photographic business accounts for about 90 percent of Kodak’s $14 billion in revenues. Fisher, though, has painted a vision of the company as a global digital image leader. With digital imaging technology it will eventually be possible for consumers to take pictures, crop them, print them, and send them electronically. Fisher, who had a Ph.D. in applied mathematics, believes the photographic business will be important for years to come, but unless Kodak assumes leadership in the area of digital images, the company will eventually become technology obsolete. Since coming to Kodak, Fisher has been putting in 18-hours days studying every part of Kodak’s business, even to the point of learning how to operate a photo finishing minilab and comparing Kodak photographic pictures with the competition. Many observers say that Kodak’s culture tends to support emphasis on hierarchical authority and long deliberation before taking action, a culture illsuited to the stiff competition the company faces. Fisher is trying to change the dysfunctional culture by setting tough goals and then letting his managers decide how best to achieve them. He also sold Kodak’s health and home products divisions and used the money to pay off a big part of Kodak’s burdensome debt. Despite his view that digital imaging technology will be an important part of Kodak’s future, Fisher believes that Kodak’s photographic business also has significant growth potential. He considers expansion in international markets to be particularly important. For example, he wants the company to do better in the fast growing economies of Asia, where Kodak trails its archrival Fuji Photo. There are also major markets in Russia, India, and Brazil that offer vast potential, but have barely been tapped by Kodak. Within the United States, Kodak has been quickly growing its share of the wholesale photofinishing market through its Qualex subsidiary, which handles most of the photofinishing for large retailers, such as Wal-Mart and Kmart. This approach will likely be expanded internationally as well. Now that Kodak has made a commitment to building strength in digital imaging, Fisher has set up a new digital division composed of various digital resources that had been spread throughout the company. He has also hired an executive from Digital Equipment Corporation to lead it. The company has also announced several product and service alliances with companies like IBM, Microsoft, and Sprint. By Kodak’s own account, the company faces no fewer than 599 global competitors who are also trying to make their mark with the emerging technology. To help break through the rigid bureaucracy and covey his message throughout the organization, Fisher has made himself more accessible than Kodak’s CEOs of the recent past. He frequently visits the offices of researchers to obtain information and talks with employees in the cafeteria where he has breakfast every morning. He invites employees to send him e-mail messages and usually answers them within a day with handwritten notes on the messages his secretary print out. At meetings, Fisher often puts up a slide with a single word: accountability. In the past, goals would be set, but managers often missed them by a wide margin with no consequences. Now Fisher works with managers to set realistic goals, but he makes it clear that he expects them to track their progress and meet the goals. Compensation systems are being adjusted to reward managers who meet their performance goals. Fisher is particularly concerned about cycle time, the time it takes to do things like introduce new products. There still are tough times ahead, Kodak’s costs are high. According to one estimate, Fuji brings in $358,000 per employee versus $144,000 for Kodak. No one knows how quickly the digital technology will overtake photographic technology. And changing the culture of a large company takes time.

 

Questions: 1. Categorize each of the Fisher’s activities according to the four functions of management: planning, organizing, leading, and controlling.

2. Do you think Fisher possesses technical, human, and conceptual skills? Give evidences of your answer.

3. Identify environmental factors affecting Kodak. How Fisher faces these factors? Do you think his efforts were successful in this regard? Justify your answer..

4. What motivational theories and techniques Fisher used to motivate his employees? Do you think these methods was successful? Justify your answer.

5. Identify the marketing strategies used by Kodak and evaluate their effect on company’s performance 

6. Using your knowledge in operations management suggest possible ways by which Fisher can reduce the cycle time and costs of Kodak.

7. Using SWOT analysis, identify the major strengths, weaknesses, opportunities, and threats of Kodak..

 

 

 

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  • Posted on : July 03rd, 2019

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