The First Kodak Digital Camera

[nowhereman]

We had some Kodak processors in our lab. Service tech comes in, not long after a new CEO took over at EK and says "things are changing and not for the better". Turns out, in his "hi, i'm the new guy" letter to the employees, the words "shareholder satisfaction" (or something to that effect) figured prominently. Within a year or so, major layoffs, selling of of business units etc had begun. Heard a rumor from a former EK person that when the CEO hired in, if he got the stock price up to X he could cash out (which he did, and he did). They could have ruled the digital world and look at them now.

[tw]

Originally Posted by nowhereman

They could have ruled the digital world and look at them now.

He did exactly what is taught in business schools. Product is irrelevant. Only profit matter. So he stifled innovation. blamed employees, cut costs, and enriched the Central Committee of the Communist Party - Kodak top management.

Most of us are brainwashed by business schools - foolishly believe the purpose of a company is profits. Companies that prosper and therefore have profits ignore the profits and concentrate only on what matters - the product. Kodak instead went communist.