Business Lessons on Kodak
By: Caroline Tucker
Updated: January 17, 2012
In Rochester, there are hundreds of young people learning how to run companies and reinvent the business world.
At the Simon School of Business at the University of Rochester, the lessons of Kodak are being taught inside the classroom.
The Simon School is where Kodak would send dozens of its employees to learn how to become better executives.
Today, those numbers have dwindled, but many young people are learning some valuable lessons.
Inside a Simon school of business classroom young men and women are the next company executives and CEO's.
What they learn here could transform how business is done in the future.
"Is there some way we can take what we are learning in our classes at Simon and make it relevant to what is going on in the economy," said Michelle Kinzie, a student.
All these students have to do is look down the road at nearby Kodak.
The once blossoming business full of innovation... Is now working to stay afloat.
"I think a lot of it has to do with corporate culture of Kodak. A lot of it was driven by George Eastman in early development but fell into a "yes man" type culture," said Matt Bloch, a student.
Simon School Dean Mark Zupan says Kodak is a model for students to examine.
"That it's not just the moment that matters, it's ultimately the imprint , the impact," said Mark Zupan, Dean of Simon School of Business.
Zupan says inventing the future is what will make young entrepreneurs and business people successful.
"You can't rest on your laurels. The most important thing is to focus on the creativity of the future," said Zupan.
In Kodak's case, many say the transition to digital photography hurt the company the most.
These students say the lessons are simple.
"From a marketing perspective, you can take it from what they had to market their product and adapt their product and take what was unsuccessful and make it successful in the future," said Kinzie.
"There is a clear lesson to be learned in terms of a company's ability to evolve and move forward with technology," said Bloch.
While these young people can't fix the once giant film company, they can work on building their own stronger companies in the future.
Analysts are keeping their eyes on Kodak this month-
After there are renewed fears bankruptcy could weeks away.
Kodak will release its fourth quarter earnings next week.
On Tuesday, the stock price remained flat, inching up a penny.
