Kodak and Fujifilm Essay Example | Topics and Well Written Essays - 1500 words - 3

Kodak and Fujifilm - Essay Example Although Fujifilm has in the past two decades become one of the leading names in the industry, Kodak possessed a long standing history of more than 130 years. In 1988, Kodak camera was launched in the market of the United States (US). Contextually, it came to prominence as a distinct organization with its slogan of â€Å"You Press the Button, We do the rest† which influenced the people to buy its offerings (Kodak, n.d.). George Eastman was the founding figure of the Eastman Kodak Company whose main aim was to make the facet of photography more useful, simpler along with pleasurable. The core principles that were followed by Eastman from the inception of Kodak entail a clear focus upon the needs of the consumers, global distribution, widespread advertising and mass production or manufacturing at relatively reduced cost (Kodak, n.d.). Conversely, Fujifilm is essentially a Japan based company which too is one of the giant companies in its segment. Fuji Photo Film Co., Ltd started its operations in Japan in the year of 1934. As a key turning point in the success of Fujifilm, it established its United States based manufacturing unit in 1988 which facilitated the company to challenge the dominance of market leader Kodak. In the last decade the company has made a number of acquisitions and has established its subsidiaries in emerging economies such as India, Indonesia and Colombia among others. A few of the areas of innovations where Fujifilm’s interests lie include graphics cards, optical devices, high tech gadgets and a wide range of cameras. Kodak’s core business lies on manufacturing cameras, photographic films, slide projector, scanner and printer. It also engaged itself in performing video analysis and motion processing, mobile communication and audio signal processing. Whereas, Fujifilm deals in offerings digital cameras,3D image products, films, binoculars, medical systems, graphic systems, photofinishing products, motion picture products, optical devices, recording media, industrial products, image management and semiconductor materials among others. Thus, it is apparently visible that the business of Fujifilm is quite diverse. In this regard, it is observed that despite being a giant in the technological field, Kodak faced bankruptcy situation in the year of 2012 due certain drawbacks in its approach such as a lack of focus on innovation. Fujifilm, on the other hand, has been maintaining its market share and profitability quite successfully (Fujifilm Corporation, n.d.). Comparison Between Management That Each Company Pursued In Order To Embrace Innovation In order to make the comparison between these two ‘technology based’ corporations regarding their management approach to sustain innovation, it is imperative to learn about how much the companies provided importance to innovation and technological feature development. The management of Fujifilm always plans to upgrade its innovation process through ex cellent research and development (R&D) process. The management of every company invests a good percentage of capital on its R&D to compete with its competitors. Fujifilm has followed the similar path. It has build ‘Fujifilm Advanced Research Laboratories’ to continue its innovation process in the year of 2006. It has facilitated to create milestone offerings in bio chemistry, pharmaceuticals and printing technologies segments. On