BFS Kul 1 What is a Business Feasibility Study Presentasi Google Chrome 2024 09 12 12 42 55

Summary

Kodak, once a photography giant, failed to adapt to digital technology despite inventing the first digital camera. Their overoptimistic market analysis and hesitance to transition from film to digital allowed competitors like Canon and Sony to dominate. Kodak's slow decision-making and internal resistance to change led to a significant loss of market share. By 2012, Kodak filed for bankruptcy, teaching us the importance of quick adaptation to market changes, avoiding overreliance on existing revenue streams, fostering organizational flexibility, and considering unforeseen risks.

Takeaways

• 📸 Kodak was once a dominant player in the film and photography market but faced a crucial decision with the emergence of digital technology.
• 🔄 Despite inventing the first digital camera in 1975, Kodak struggled to adapt to the shift from film to digital photography in the early 2000s.
• 📉 Kodak's feasibility study recognized the rise of digital photography but underestimated the speed at which consumers would adopt digital technology.
• 💼 The company's market analysis was overly optimistic about film demand, leading to significant investment in film while delaying a full commitment to digital.
• 🤔 Kodak hesitated to fully embrace digital technology due to concerns about cannibalizing their lucrative film business.
• 🚫 This hesitation led to missed opportunities as competitors like Canon and Sony advanced in the digital camera market.
• ⏳ Kodak's feasibility study projected a gradual decline in film sales, but the actual decline was much faster than expected.
• 🏢 The company faced significant internal resistance to change, with senior executives deeply invested in the film business.
• 🔄 Kodak's structure was not agile enough to adapt quickly, and its decision-making processes were slow and cumbersome.
• 📉 Kodak underestimated key risks such as rapid technological innovation and the rise of smartphones, which revolutionized photography.
• 📉 By the time Kodak entered the digital market, they had lost their edge, and in 2012, they filed for bankruptcy.

Q & A

What was Kodak's initial response to the emergence of digital technology in the late 20th century?

Kodak struggled to adapt to the digital technology shift despite inventing the first digital camera in 1975.

What did Kodak's feasibility study in the early 2000s highlight?

The study noted the rise of digital photography and the fall of the traditional film market, but Kodak underestimated the speed of consumer adoption of digital technology.

Why did Kodak hesitate to fully embrace digital technology?

Kodak was concerned about cannibalizing their lucrative film business, which led to hesitation in fully committing to digital technology.

How did Kodak's competitors, like Canon and Sony, capitalize on the digital shift?

Competitors like Canon and Sony advanced in the digital camera market while Kodak hesitated, allowing them to capture market share.

What was the projection of Kodak's feasibility study regarding film sales?

Kodak's feasibility study projected a gradual decline in film sales, which allowed for a steady transition to digital.

What internal factors contributed to Kodak's failure to adapt quickly to digital technology?

Kodak faced significant internal resistance to change, with senior executives deeply invested in film, creating a barrier to digital technology adoption.

How did Kodak's organizational structure impede its ability to adapt to market changes?

Kodak's structure was not agile enough to adapt quickly, and its decision-making processes were slow and cumbersome.

What unforeseen risks did Kodak underestimate in their market analysis?

Kodak underestimated key risks such as rapid technological innovation and the rise of smartphones, which revolutionized photography.

What was the ultimate outcome for Kodak in the digital market?

By the time Kodak entered the digital market, they had lost their edge and filed for bankruptcy in 2012.

What are the key lessons that can be learned from Kodak's failure to adapt to digital technology?

The key lessons include adapting quickly to market changes, avoiding overreliance on existing revenue streams, encouraging organizational flexibility, continuously updating feasibility studies, and considering unforeseen risks.