Suggestions and Recommendations
It would be more careful if Kodak positions itself on the services side in the digital imaging chain, for e.g. kiosks at retailers, digital mini-labs, and online services for image manipulation, storage, printing, and delivery.
The company can look into new ideas like running photography courses. It is definitely beneficial to help users along and train them in the ways of photography, because as users become more skilled, they will feel the need to purchase extra lenses, extra batteries, external flashes, and other accessories
Kodak should structure its operations and organizational hierarchy that will enable them to better identify and develop disruptive technologies.
It should also benchmark its internal and external processes in order to find out and then imitate the best practices in the company. A little flexibility will do a lot for the company to regain its position and become successful once again.
Conclusion
Merely surviving in the market is not the aim of successful companies but growth is. A company should have management that is capable of running the business efficiently and effectively in the challenging and demanding market and enabling it to face and compete rivalry. The management should be able to sense the gaps that can be tapped in for new opportunities. It should also be able to sense future threats and devise future plans accordingly.
From the cases discussed above, it can be seen that successful companies are usually flexible in structure. The specialization is not high and formalization is also low. Decision making is decentralized and management is people oriented. The managers act as leaders rather than supervisors.
The culture in the successful companies is such that it welcomes changes and innovations rather than sticking to old ways of doing things and escaping from challenges.
Companies can manage their product portfolios with the help of BCG Matrix and kill the unwanted dogs and reach the stars.
References:
Chaffey, D. (2009). Strategy, implementation and practice. In Internet Marketing (4th ed.). Edinburgh, UK: Pearson Education limited.
http://www.thinkingmanagers.com/lmr/recession-tips-for-ceos
http://walmartstores.com/aboutus/297.aspx
http://www.mba-tutorials.com/marketing/277-wal-mart-swot-analysis.html
http://www.managedecisions.com/blog/?p=444