Internal analysis of the organization’s strengths and weaknesses is one of the most critical aspects of evaluating the core competencies of the firm. The analysis of this type not only allows organization’s to identify its competencies which can further create competitive advantage for it. Kodak’s strength lies in the fact that it is a very well known and trusted brand with strong brand equity. Its products suit almost every niche of the market allowing consumers to purchase its high priced as well as low priced cameras.
Its portable camera and poloride camera is still the market leader and as such its disposable camera is a market leader. However, Kodak is in a market which is fast changing and due to its historical superiority over traditional camera and other market, new companies have been able to produce more successful move into digital cameras thus erasing the need for having photo films produced by Kodak. VRIO Framework VRIO Framework outline that if a firm’s resources are hard to imitate and are costly and somewhat rare, it becomes easier for firms to gain and manage its competitive advantage for longer period of time.
Kodak’s Poloride Camera was one of the initiatives which provided it enough market power over others in this segment. However, that rarity of the product as well as superiority vanished with the introduction of electronic cameras and companies like Kodak has to adjust to a new environment and new challenges. Kodak created value through its technological superiority however its products were not rare as the technology was already in place and was easily imitable by “Me Too” type of products.
University/College: University of California
Type of paper: Thesis/Dissertation Chapter
Date: 25 September 2016
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