BFS Kul 1 What is a Business Feasibility Study Presentasi Google Chrome 2024 09 12 12 42 55
Summary
TLDRKodak, 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.
Outlines
📸 Kodak's Struggle with Digital Transformation
Kodak, once a leader in the film and photography market, faced a pivotal decision in the late 20th century with the emergence of digital technology. Despite inventing the first digital camera in 1975, the company struggled to adapt. Kodak's feasibility study recognized the rise of digital photography and the decline of traditional film but underestimated the speed of consumer adoption. The company's market analysis was overly optimistic about film demand, leading to continued investment in film and delayed commitment to digital. Kodak's technical capability to produce high-quality digital cameras was overshadowed by concerns about cannibalizing their film business. This hesitation allowed competitors like Canon and Sony to advance, while Kodak's internal resistance and slow decision-making hindered adaptation. The company's failure to pivot effectively resulted in a significant loss of market share, and in 2012, Kodak filed for bankruptcy. The key lessons from Kodak's experience include the need for companies to adapt quickly to market changes, avoid overreliance on existing revenue streams, encourage organizational flexibility, and continuously update feasibility studies to consider unforeseen risks and disruptive technologies.
Mindmap
Keywords
💡Digital Technology
💡Feasibility Study
💡Market Analysis
💡Cannibalization
💡Competitors
💡Technological Innovation
💡Smartphones
💡Organizational Flexibility
💡Resistance to Change
💡Bankruptcy
💡Market Changes
Highlights
Kodak was once the dominant player in the film and photography market.
Digital technology emerged, posing a challenge to Kodak's traditional business.
Kodak invented the first digital camera in 1975 but struggled to adapt to the digital era.
Kodak's feasibility study recognized the rise of digital photography but underestimated the speed of consumer adoption.
The company maintained significant investment in film, delaying full commitment to digital.
Kodak's market analysis was overly optimistic about film demand.
Kodak hesitated to embrace digital technology due to concerns about cannibalizing their film business.
Competitors like Canon and Sony advanced in the digital camera market while Kodak hesitated.
Kodak's feasibility study projected a gradual decline in film sales, which did not materialize as expected.
The company continued to invest heavily in traditional film, draining resources from digital strategy development.
Internal resistance to change and a lack of agility in Kodak's structure hindered adaptation to digital technology.
Kodak's decision-making processes were slow and cumbersome, impeding quick adaptation.
The rise of smartphones revolutionized photography, a risk underestimated by Kodak.
Kodak's inability to pivot effectively led to a loss of market edge in the digital market.
Kodak filed for bankruptcy in 2012, marking a significant failure for a former industry leader.
Key lessons include the need to adapt quickly to market changes and avoid overreliance on existing revenue streams.
Organizational flexibility is crucial for companies to adapt to technological advancements.
Continuously updating feasibility studies is necessary as markets and technologies change rapidly.
Companies must consider unforeseen risks and the impact of disruptive technologies.
Established companies can fail if they do not anticipate market changes and adapt to technological advancements.
Transcripts
once the dominant player in the film
photography Market faced a crucial
decision in the late 20th century as
digital technology emerged despite
inventing the first digital camera in
1975 Kodak struggled to adapt in the
early 2000s Kodak studied transitioning
from film to digital photography But
ultimately failed to capitalize on this
shift kodak's feasibility study noted
the rise of digital photography and the
fall of the traditional film Market the
company underestimated how quickly
consumers would adopt digital technology
kodak's market analysis was overly
optimistic about film demand leading
them to maintain significant investment
in film while delaying a full commitment
to digital while Kodak had the technical
capability to produce highquality
digital cameras they hesitated to fully
embrace the 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 allowing for a steady transition
to digital
however the decline in film demand was
much faster than
expected as a result Kodak continued to
invest heavily in its traditional film
business draining resources that could
have been used to develop its digital
strategy the company faced significant
internal resistance to change senior
Executives were deeply invested in film
creating a barrier to digital technology
kodak's structure was not agile enough
to adapt quickly and its decision making
processes were slow and cumbersome
kodak's feasibility study underestimated
key risks like rapid technological
innovation and the rise of smartphones
which revolutionized photography despite
recognizing the digital Trend Kodak
couldn't pivot effectively by the time
they entered the digital Market they had
lost their Edge in 2012 Kodak filed for
bankruptcy marking a significant failure
for a former industry leader what are
the key lessons we can learn adapt
quickly to Market
changes companies must act swiftly even
when Trends are identified Kodak delay
allowed competitors to capture market
share avoid overreliance on existing
revenue streams coda's investment in
film limited their digital Innovation
encourage organizational flexibility
resistance to change can impede
adaptation continuously update
feasibility studies markets and
Technologies change rapidly companies
must update studies to stay relevant
consider unforeseen risks Kodak
underestimated the rise of smartphones
and digital adoption highlighting the
need to consider disruptive Technologies
and their impact this example shows how
even established companies can fail if
they do not anticipate Market changes
and adapt to technological advancements
despite having the necessary resources
codc failure to act on its studies
findings ultimately led to its downfall
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