Kodak

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Finance
Kodak’s Comeback Efforts with Crypto-currency: Any Promises?
Kodak is a photography company that has bounced back to being profitable once more after being bankrupt for eighteen months. This is an excellent example of the successful change that can be brought to a company. Kodak has changed their business approach to gain back their success by engaging in one on one communication (Castelluccio and Michael, 57). With this approach, they can help out their customers more efficiently and address issues raised more quickly. Kodak has also added a policy where they must examine and adjust their costs, to ensure profitability. The company has changed their employees and cut down on many jobs, now only accepting the very best for job opportunities, as their staff goes through regular training to ensure productivity in the company.
The most significant change that Kodak has gone through is the investment in modern technology. Kodak has advanced its manufacturing process, invented new hi-tech printing equipment, and are now designing touch screen censors (Castelluccio and Michael, 57).
Kodak leadership was able to fight resistance to change by, starting the change in the higher-ups of the company and then dwindling down to the employees. “The company is involving every stakeholder of the company in the process of change” (Castelluccio and Michael, 57). They have invested in research on what change will work best for the company and the adjustments that need to be done.

Kodak communicates new upcoming changes well before they are implemented, so everyone knows what to expect. With this leadership, the employees now embrace change and are motivated to work hard.
Will Kodak, best referred to nowadays as a reference book instance of neglecting to change by the digital age, make a definitive rebound? That is the issue raised by the organization’s current presentation of KodakCoin and an advanced stage for capacity, verification, and rights management of photos as well as an invasion into the surging areas of blockchain innovation and crypto-currency ((Kunczik and Michael, 39). On the one hand, the move appears to speak to a distinct difference to the Kodak of old, which remained by and watched Fuji and different contenders benefit from the approach of digital photographs while its particular income and offer of the photography advertise imploded. Financial specialists have remunerated the move by tripling Kodak’s stock cost. On alternate, pundits have contended that Kodak’s new procedure, while consideration snatching, makes minimal genuine esteem. Honestly, it’s too soon to tell.
Kodak’s move to invest in crypto-currency could be valuable, yet it relies upon how well the critical business markets the new items and management and the responses of their target market and competitors (Kunczik and Michael, 85) Let’s think about these factors for the progress of the project. Laid down strategy has the following steps, one stage for storage of photograph and rights management, alongside installment of payment transaction platform and lastly introduction of crypto-currency. KodakCoin.
Kodak needs to pull in photographic artists with a stage that won’t just house their photos, however, shield them from unapproved utilize. The organization is notwithstanding touting innovation that will scan proactively for encroachment through “consistent web-creeping” and ready clients. There is an expansive potential incentive here, as this takes care of mounting rights-related issues for picture takers.
The Kodak innovation needs to fill in as guaranteed. Will it be better than new digital methods for rights security, for example, digital watermarks? How well will the innovation slither the web to spot rights-encroachment? This requires robust picture processing technology to distinguish identical or similar pictures. When that is established, Kodak will become the favorite go-to platform for photographers, making an incentive for all people (Kunczik and Michael, 39).
After securing the rights to pictures, Kodak needs to empower picture takers, little dealers to serve clients on the same stage that houses their photographs, as opposed to through outside installment processors, for example, PayPal (ppl, +0.16%) or Venmo. In principle, that would bear the cost of clients more unique space for the one-stop transaction while giving Kodak significant control over more client exercises, alongside a trove of usable information.
For instance, the business could look into transactions and identify outstanding, higher-volume photographers or field of photography and target them with particular items (cameras and focal points), management and offers. Additionally, Kodak has to bring to the table something powerful than what’s as of now out there. For this situation, that implies free (like Venmo), secured (like PayPal), helpful (like PayPal and Venmo) transaction for clients. That is trying to do productively (Kunczik and Michael, 48)
Finally, KodakCoin is entering the crypto-currency trade, a market which is booming, however officially ruled by Bitcoin and others. One of the reasons Kodak is introducing the market is to have a second avenue of raising capital. But its more challenging to the company since its used to its traditional financial methods. Apart from creating money, the strategy can give motivating psych to customers of the new currency to be the early adopters of the Kodak transaction platform. The more clients of the platform (photographers and clients), the more KodakCoin clients there are, and subsequently higher the returns will be for both (Kunczik and Michael, 76).
Works cited:
Castelluccio, Michael. “Kodak’s comeback.” Strategic Finance 88.9 (2007): 57.
Head, Karen J. Disrupt This!: MOOCs and the Promises of Technology. University Press of New England, 2017.
Kunczik, Michael. “Globalisation: News media, images of nations and the flow of international capital with special reference to the role of rating agencies.” Journal of International Communication 8.1 (2002): 39-79.