One of the biggest camera companies in the world, Kodak has recently declared bankruptcy. The downfall of camera giant Kodak was an interesting process that involved seemingly one major mistake. This mistake has lead the company to bankruptcy and created an uncertain future for the direction of this company. After talking to Professor Henry Lucas from the University of Maryland it is evident that Kodak’s biggest mistake was it’s inability to accept the digital camera as the future of photography.
The Influence of the Digital Camera on Kodak's Bankruptcy
The lack of adaption of the digital camera by Kodak is a clear misstep that greatly contributed to the company going bankrupt. Kodak's inability to recognize the digital camera as the future of film proved to have a great impact on the company going bankrupt.
How Kodak Could Have Avoided Bankruptcy By Embracing The Digital Camera
Unfortunately, the chance to avoid bankruptcy was there for Kodak as they had concepts of the digital camera as well as a small section of the company that was devoted to this technology. However, Kodak was not able to foresee the impact of digital cameras and so it kept with the analog form of film, which had been very profitable for Kodak. Ultimately, this was the wrong decision.
The Possible Future Plans for Kodak
The two main
future plans for Kodak to escape Bankruptcy involve expanding their share of the printer marker and selling off their patents. Although Kodak faces an uphill climb it is possible for them to become a relevant and successful company again.
Some Facts About Kodak and their Bankruptcy.
No comments:
Post a Comment