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From your perspective, based on the video and articles for this activity, what are the top 3 reasons why change efforts fail of all the reasons provided? Please explain each. Lack of a clear vision/strategy Lack of a sense of urgency Lack of leadership to advance their vision

Of the many reasons Kodak lost market share, I think one of the most prevailing is their lack of Creative Destruction which starts with their leadership. Karl Marx authored this process that involves both wealth creation and destruction. To give you an example, lets consider the evolution of music media. Starting with the 8-track tapes of the 60s and 70s to cassette tapes, to CDs, and now to digital music files such as .WAVs and MP3s you can see the pattern of change. As a manufacture in this industry, competition was stiff and required constant adjustments to improve and gain an advantage on the competition. Kodak was a leader in producing not only film, but at one point was the innovator of the digital camera. One of the key steps in the Creative Destruction process is change. Kodak resisted change even with though they knew that the environment was changing. Another mistake was the company did not react fast enough once they realized the competition was taking the lead. They were still trying to hold on to their old technology and make as much money from it as they could while their competitors was creating newer, faster, and innovative products. Kodak so desperate to make a changed decided to put their flagship technology on the back burner to pursue printers. The Ink-jet printer market was a market that was new to Kodak and already had heavy hitting players. Kodak certainly gave into change, but chose the wrong path of creativity and innovation.

2. Explain the role of the leader in change initiatives? Is change possible without leadership, explain why or why not? The role of a leader in change initiatives involves various tasks throughout the process. Develop a vision/strategy: A leader must create a plan and a means to advance the plan. Communication of the vision: Everyone involved in the strategy must understand their roles, responsibilities, and expectations. Create a sense of urgency: The human action model states that in order for individuals to change, there must be a sense of uneasiness, a vision of a better state, and the individual has the means of obtaining a better state. Acknowledge successes: Employees that promote the advancement of the vision should be rewarded based on their value creation. Promote a culture that fosters change: A leader should build a pool of resources that understand and drive change throughout the organization to eliminate waste and create longterm value.

Change is certainly possible with or without leadership. Things are always changing, but change is most effective when managed and driven towards a common goal (Organized change). Kodaks changes were reactive instead of proactive; they cut jobs to try to address their market share reduction instead of focusing on the things they did well. In order to accomplish effective change, strong leadership traits are essential. 3. How did Kodak transform from how they were described in the video to the article from the Business Case Journal? The article from the Business Case Journal describes Kodaks attempt at creating a new vision and driving change. The CEO visited various plants across the US and discovered that more than 60% of his employees had already migrated to digital photography. Obviously these cameras were being produced by their competition. The CEO used this example to stress that Kodak has to be willing to drive change from the film technology to the newer digital platform. He also demonstrated a sense of urgency by stating that there is no time to argue about it. The fact of the matter was that if Kodak did not make drastic changes then the company would cease to exist. The video described a company that was blind to the market and knew that they needed to change but chose not to. Kodak finally realized their resistance to change and began experimenting with many changes from cameras to digital media storage platforms. The difference this time though you could begin to see their vision and they started measuring their performance relative to their competition. 1. 2. 3. 4. Manage the traditional film business for cash and manufacturing share leadership Lead in distributing output Grow the digital capture business Expand digital imaging services

Kodak had been so comfortable in their resistance to change that when things started to change, their stock price took a dive. Investors were skeptical of their new vision and were in a bit of discord expecting a more specific plan. Kodak made an effort to communicate their plan and set expectations in order to manage the process of regaining some of their market share. Kodak managed to shorten the life cycle of their products and focus on creatively destroying their products to remain competitive. Even though Kodak has declared an end to their transformation, the only way that they can continue to operate is to manage and drive change with a clear vision/strategy with the right leadership.

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