I. Profile of a Struggling Company
A.Utilizing the fundamental principles of management relating to the P-O-L-C framework can help you in reaching optimal performance within a company. For example, Planningis used to set goals and objectives and helps create a plan of action.
A sub function of planning is strategic planning, which in Kodak’s case, could have been applied to help manage the innovation of new products in order to maintain a competitive advantage over other companies intheir industry.
The problem for Kodak was their inability to maintain and manage new products that were being demanded by a society that was so dependent on technology. Kodak had believedthat its existing products were enough to maintain their success.
They had built their strategic planning around their core products. In 1975, Steven Sasson, a Kodak engineer had developed the first digital https://www.solvedcollegepapers.com/product/ol-215-ol215-ol-215-ohara
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