Quality Innovation Process Of Eastman Kodak Commerce Essay Example

and neighbors. We have established a company Health, Safety and Environmental Policy based on a set of Corporate Responsibility Principles as our strategic framework for achieving goals.

Implementing innovative strategies will enable the company to surpass competitors in terms of profit growth, market share expansion, and earnings per share.

Eastman Kodak's invention schemes consist of the following sub-advanced schemes. These schemes form the foundation for the company's CEO and the specific details are as follows.

Advanced enterprise schemes

These enterprise schemes offer the company a sustainable competitive advantage. Successful companies strategically allocate their efforts globally. Eastman Kodak should pursue stretch exercises, not fit exercises.

In order to exceed customer satisfaction, the entire team at Eastman Kodak needs to adhere to an overall organizational plan. The CEO will collaborate with my management to develop a strategy for the company that adds value for targeted clients in the long run by consistently meeting their needs better than Eastman Kodak's competitors. Innovative business strategies will guide Eastman Kodak's positioning in the market and its competitive stance against other companies.

Advanced strategies for corporate growth

To achieve and sustain high performance, innovation must go beyond chance. The best companies establish structures, processes, and conditions that increase the probability of long-term innovation. The CEO will implement an advanced growth strategy along with efficient technology strategies and a fast product launch process.

The corporate development strategies rely on knowledge rather than hardware. The advanced corporate development strategy will aid the CEO and management in reviewing or revising their corporate policy and empowering corporate management. To achieve this, the firm can employ the lean six sigma approach because Lean Six Sigma pertains to a time when

quality and speed have the highest importance in manufacturing. Six Sigma emphasizes the need to identify opportunities and eliminate defects according to customer-defined standards.

The Eastman Kodak can overcome its global recession by implementing advanced growth strategies that focus on increasing customer value. The key variables and advantages of these strategies are outlined below.

Advanced Venture Strategies

Advanced venture strategies refer to the methods used by an organization to form alliances or partnerships in either its entire business or specific units. In order to address its weaknesses in certain regions and markets, the Eastman Kodak Company can form joint ventures with other companies within its industry.

The current net income limits of the Eastman Kodak Company are currently under pressure. However, there is a possibility that a joint venture can help the company recover from potential losses or business failures in these continents. (Jane Henry; A; David Mayle, 2nd edition) Adopting innovative venture strategies could give Eastman Kodak a competitive advantage and distinguish it from its rivals, ultimately generating positive economic benefits and increasing shareholder value. By identifying new products and services based on core capabilities within successful companies that have created new markets, Eastman Kodak can achieve competitive advantage and differentiation. Implementing advanced venture strategies would enhance the company's core competencies and potentially increase its stock price in less profitable continents.

Advanced competitive strategies

Eastman Kodak can overcome the main challenge of its global business decline by formulating and implementing advanced competitive strategies.

The implementation of advanced competitive strategies can be beneficial in the market. Several market rivals have gained ground or even surpassed the leader. In this regard, Eastman Kodak should adopt the market challenging techniques used by reputable

companies.

An example of competitive strategies

Toyota produces more vehicles than General Motors and British Airways serves more international passengers than the former leader, Pan Am, did in its prime. Airbus delivers a higher number of aircraft compared to Boeing.

Rivals such as Airbus have ambitious goals and use their resources effectively, while the market leader often continues with business as usual. A competitor in the market must first establish its strategic objectives, with the primary goal being to increase its market share. Similarly to Toyota, Eastman Kodak can challenge the market leader in areas where it has low profit margins. However, this strategy may be risky for Eastman Kodak and may only prove favorable if the leader fails to analyze the competitor's trends and desires. (Philip Kotler, 12th edition)