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Huff Lorraine GP Rough Draft - The strategy-making process...

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The strategy-making process is the method by which companies create strategies that produce sustainable competitive advantage. Strategy making can improve profits, sales growth, and return on investments for any firm. The goal of putting strategic alternatives into play is to tighten the company’s investment focus and strengthen its financial position. When it comes to the core business of Kodak photography, the company should use a competitive strategy. A competitive strategy creates a defendable position in an industry so that a firm can outperform its competitors. The first step would be to incorporate updated technology into the company and invest in new and up and coming technological processes. Kodak has been a household name for generations in the field of photography. Consumers know and trust the name itself. However, photographs and even film have become all but obsolete. With the introduction of digital technology for photographs, Kodak has not necessarily kept up with the times. They are not the
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