Question 3(7 marks)

The Case

In 1975, still the early dawn of the computer era, Kodak invented the first digital camera. At that time, Kodak had 85% of the U.S. market share for cameras and 90% market share for film. By the late 1980s, 1-hour film processing shops were delighting customers who hated waiting days to get their photo prints, and Consumer Reports ranked stores using Kodak chemicals and technology as having the best picture quality. Amid this market domination built on a century of chemical-based photography innovations, Kodak failed to successfully pivot from chemicals to computers even after investing over USD 2 billion in digital technology research and development. Kodaks investments were focused on how digital photography could strengthen its traditional photography business, not replace it. Sony, Hewlett-Packard, and other companies embracing digital technology entered the photography industry with a new proposition for consumers while Kodak simply continued to protect its vast investments in chemical technology.

Required:

A firm takes on an entrepreneurial orientation (EO) when it adopts the processes, practices, and decision-making styles that are associated with an entrepreneur. Use the case study to apply the three dimensions of Entrepreneurial Orientation, namely Innovativeness, Proactiveness, Risk-taking and the Four Types of Innovation model.

Please answer in less than 400 words