Now that Kodak has officially filed for bankruptcy, it's time for a post-mortem. Here's an excellent analysis from Wharton on what went wrong. The irony is, of course, that Kodak invented digital photography. The problem is they couldn't risk disrupting their generous film margins. For the sake of short-term profitability, they sacrificed their future. Oh yeah, incompetent management is at the root of most of their problems too. Insular and incompetent. My question is, why is the CEO, Antonio Perez, still around? His strategies have failed and he's driven the company into bankruptcy. Now, it looks like his mission is to sell off patents and cut benefits for retirees. That's a hell of a strategy. Kodak needs a change at the top if it's to have any hope of surviving.
What's Wrong with This Picture: Kodak's 30-year Slide into Bankruptcy - Knowledge@Wharton.
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