Strategic Planning Report to Mr. Komori Term Paper

Strategic Planning Report to Mr. Komori - Term Paper Example Currently, the profits are falling and copy approach that is engraved deep into the veins of the company is not doing justice to its potential. Hence, Fujifilm needs to follow a policy that gives chance to employees to bring out their create efforts and innovate in order to make sure that the company does not lose on money and does not lose on profitability. In simple terms, the company needs to kill the elephant and bring out a lion. It should be more creative, more aggressive and fiercer in dealing with opportunities, competitors and its clients. It cannot afford to be passive anymore due to the fast-changing nature of the world, and cannot use the same strategies to catch its prey anymore; instead a new more innovative approach is need every time the company goes out to catch its prey. The word â€Å"prey† in this context is Fujifilm’s market share and profitability. It is one thing that every company, and not just Fujifilm, would love to catch every time its goes ou t in wild to hunt. The competition will also be harsh since they are fighting the same battle, but Fujifilm needs to be harsher if it wants to succeed in the current market place and environment. There is an old saying â€Å"You have to be cruel to be successful† and Fujifilm needs to adopt this philosophy to be successful. However, it does not need to be cruel to its own people, but instead it need to tackle its competition by being fiercer and more aggressive. (Robbins, 2004) Mr. Komori recently moved to a more centralized approach. The restructuring plans showed that Research and development department was put under the control of the Board of Directors. In other words, the Research and Development department was accountable to the board rather than the departments for which it would be working for. This approach may lead to cost-containment, but it may kill the purpose of carrying out proper research and development. Hence, the decentralized research and development depar tment is the need of the company if it wants to become more innovative. The board should not interfere with the operational issues in the company; it should only give vision, mission and sense of direction to the company. Hence it is suggested that Research and Development should be dropped from Board of Director’s agenda and should be placed under the control of departments and division head. However, these department heads should be accountable to the board if it is deemed that the Research and Development is not being used properly or cost is rising rapidly. Since the film and camera business is declining and professional photography is much less in demand, Fujifilm cannot afford to cling onto its historical film and camera business. It needs to diversify to maintain the historical profit margins and rates. If the company keeps following the elephant approach or passive approach then it can die. Hence, the new vision and mission statement should show that the company is aw are of the needs of its shareholders and client and will do everything to make sure that their needs are fulfilled. (Daft, 1994) A good mission statement usually consists of three parts. It discusses the purpose of the firm, its values and also talks about the business that the firm is in. In the case of Fujifilm, the purpose of the company has changed since the decline of its Film and Camera business. The new war that the company