As the head of Eastman Kodak Co. ,George M.C.Fisher devised a plan to save Kodak from being trapped in the slow-growth photography industry,hobbled by huge debts,a dysfunctional management culture,and a dispirited workforce.At the time of his takeover of Kodak,the product development and sales functions for the company were scattered among divisions,and the business mission was ill focused.Fisher envisioned a long-term strategy in which Kodak focused on its core competencies.By evaluating the pros and cons associated with its various businesses,Fisher decided that imaging was the key to the future.He then sold Kodak's health and household-products arms.He also assembled most of the corporate talent into one division and hired an experienced computer marketing executive to head it.Further,by stressing accountability,quality,and cycle time,Fisher began to transform Kodak's slow-moving culture.Fisher believes Kodak could double its growth rate in photography,a tough challenge in a slow-growing market,by becoming more global and by challenging Fujifilm in China.
-Refer to Eastman Kodak Co.As Kodak actively redefined its business mission,organization culture,and global strategy,what was it engaged in?

Question

Quizplus · Accepted Answer

Eastman Kodak Co. was engaged in the strategic planning processes, which involve defining the business mission, evaluating the pros and cons associated with its various businesses, and developing a long-term strategy focused on core competencies. These actions are part of the strategic planning process, which aims to redefine the company's goals, culture, and global strategy. Market planning involves analyzing market data and developing marketing strategies, while strategic contingency planning involves preparing for unexpected events and disruptions. Writing the mission statement is a component of the strategic planning process, but it is not the only aspect of it.

As the Head of Eastman Kodak Co