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Leslie Canin
BUS 226-04
SWOT Analysis – Eastman Kodak Co.
Company Overview
Eastman Kodak Co. owned by George Eastman of Rochester, New York was the
driving force behind the advent of mass-market amateur photography, which in turn
sparked America’s love for both photography and the newer phenomenon of moving
pictures. Kodak was responsible for many of the film processes necessary to the growth
and development of the Hollywood film industry, and constantly produced new
innovations for cheap widely available cameras. Kodak products were produced in the
North Eastern United States, and because of the company’s enormous distribution
network, their product lines spanned the globe. In 1927 “Kodak employment throughout
the world passed the 20,000 mark,”1 and their factories created millions of feet of film. In
1927 specifically, Eastman Kodak’s headquarters were located in upstate New York, in a
lakeside town called Rochester. Back in the late 1920’s Rochester had a population of
almost 360,000 people,2 and a booming manufacturing economy. Kodak set up their
major production area here, called Kodak Park, located at 1999 Lake Ave, Rochester,
NY. The Park “occupied more than 400 acres and contained 180 buildings, the total floor
area of which exceeded 4 million square feet.”3 In fact, Kodak Park was just one of the
company’s expansive manufacturing plants, and with the addition of retail and wholesale
stores across the globe, demand exploded for Kodak brand film.
1 “Our Company History, 1878-1929,” Can be found at Kodak.com, 2015. Accessed Nov.3, 2015.
2 Florence E.S. Knapp, “Population Figures for the Cities, Incorporated Villages, Towns, and Counties of
New York - Census of June 1, 1925,” New York Census. Jun 1, 1925.
3 Eastman Kodak Co., 1927 Annual Report, Mergent Archives. 18.

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Strengths:
Global Distribution Network
Community Outreach
Constant New Products/Innovations
Weaknesses:
Size Led to Anti-Trust Suits
Intense Competition from Constantly
Developing Small Firms
Amount of Employees/Managerial Issues
Opportunities:
Large Amounts of Natural Resources
Eager and Intrigued Customer Base
Threats:
Constant Competition to Stay Current
Various Antitrust Suits.
Strengths
Global Distribution Network:
During the late 1920’s Eastman Kodak Co. controlled not only the photography
and photographic supplies market in the United States, but to the rest of the world’s
market as well. Eastman Kodak’s Annual Report of 1927 has a world map indicating the
locations of its stores, and although it is not the most precise indication of the store’s
location, the groupings of stores on various continents are vast. According to this Annual
Report compiled by Kodak, domestically the company owned and operated 24 retail
stores, 7 factories, and 3 wholesale branches.4 Moving farther out globally, Kodak had a
store in Cuba, one in Canada, and another in Mexico. In South America, Kodak operated
7 wholesale branches,5 (supplying photographic equipment on a larger scale than
individual purchasers). Kodak expanded heavily in Europe and even partnered with
foreign theatre companies like Pathé Cinemas, of France.6 “The position of Pathé in
4 Eastman Kodak Co., 1927 Annual Report, Mergent Archives. 18.
5 Ibid.
6 "Eastman And Pathé Join," New York Times, Mar 17, 1927. 32.

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France and Western Europe is much the same as that of the Eastman Kodak Company in
the United States.”7 Meaning that Kodak was as well known in America (where it was
created) as Pathé Cinemas was well known in France (it’s homeland). Kodak also had a
heavy presence in Germany, and even built a factory in Berlin.8 Over the area of Western
Europe Kodak had 4 factories, 4 exclusive distributors, 14 retail stores, 4 wholesale
branches, and 23 retail/wholesale distributors.9 The company had its capitalist claws so
deep in the American and European photography industry, that it would be hard to
imagine an even wider distribution network. However, Eastman Kodak also controlled
portions of Asia, India, Australia, and Africa. If you were to combine these four areas,
they would contain 25 retail/wholesale distributors, 2 exclusive distributors, 2 wholesale
shops, and 1 factory (in Australia).10 This expansive network of stores and factories
owned and operated by George Eastman, the owner and founder of Eastman Kodak Co.,
projected Kodak to a chief distributor of photography equipment and film all across the
globe. This is a major strength for Kodak, and led to an easily accessible worldwide
market for Kodak’s products.
Community Outreach:
Eastman Kodak Co. and its founder, George Eastman in particular, produced
products and films specifically for the government, war veterans, factories, and schools
across America. This extensive list of important clientele and Eastman’s various
charitable foundations provided a cushion of good public relations for anything that
7 Ibid.
8 "To Build in Germany," Wall Street Journal, Jan 12, 1927. 17.
9 Eastman Kodak Co., 1927 Annual Report, Mergent Archives. 18.
10 Ibid.

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might go wrong in Kodak’s future. George Eastman, “transferred to London $1,000,000,”
to create, “the world’s finest dental clinic.”11 In doing this, George Eastman made sure
people in London’s poorest areas knew that Kodak was there for them, to provide them
with X-rays of their teeth or photographs in their home. This ingenuity combined
philanthropic acts with sales of Kodak products, increasing sales and notability of the
company. Schools in America also were beginning to use Kodak’s developing product
lines. Kodak didn’t necessarily know how much films in schools would cost, so they
turned to various schools across the nation to test out the effectiveness of these new
educational films. “A general program adequate to the needs of schools, from
kindergarten to college, will be developed if the results of a two-year test by the Eastman
Co. are approved by educational leaders.”12 Kodak produced these films to show, “the
fisheries of New England, the development of transportation in the Mohawk Valley and
the production of coal, iron and steel in Pennsylvania.”13 In addition to those depicting
mineral procurement, films were produced depicting “the grain markets of Chicago, the
wheat fields and cattle country of the West, [and] transportation as developed by the
Union Pacific and San Francisco and the Golden Gate.”14 The purpose of these films was
to educate the youth of America about all of the wonderful prospective jobs and
manufacturing opportunities they would have as future workers of America. This
education of the nation’s youth only strengthened Kodak’s brand and people’s positive
views of the company. The organization that benefitted the most from Kodak’s
innovations was the U.S. Army. Whether it was “showing a moving-picture film from
11 "Eastman's Gift Reaches London," New York Times, Dec 25, 1927. N2.
12 "Making Teaching Films," New York Times, Jan 23, 1927. E6
13 Ibid.
14 Ibid.

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2,000,000 feet of motion pictures compiled by the War and Navy departments during the
war…to entertain members of the American Legion,”15 or “seeking an altitude of 40,000
feet to take a picture of New York City, from 300 miles away,”16 Kodak helped the Army
greatly. Film itself was also a valuable tool to the nation, as military operations could
now be recorded or watched at a later time for instructional purposes. All of these
philanthropic deeds done by Eastman Kodak Co. helped strengthen the company’s public
image and made Kodak a household name, therefore making it more likely that people
would want to invest in the company and buy up their stock.
Constant Innovation:
“The year 1926 was not only the most successful from the standpoint of
manufacturing and world-wide distribution of Eastman Kodak products, but it recorded
many significant developments in the progress of photography.”17 Eastman Kodak was
the worldwide leader in photographic innovation in the late 1920’s. With, “the great
increase in amateur motion picture photography…there were few events of importance
that were not filmed.”18 This was a huge strength because Kodak basically had no
competition for its various product lines, for example X-rays. “During the year [1926] the
use of X-ray photographs became so universal that there were probably more individuals
who had X-ray pictures taken by dentists and doctors than pictures by professional
photographers.” On the other side of the coin, in “the professional motion picture
photography there were two important developments: first the improved quality of
15 “War Movies For Veterans," New York Times, Aug 29, 1927. 17.
16 "Plan Photograph of 300-Mile Area," New York Times, Mar 12, 1927. 32.
17 "Kodak To Pay Wage Dividends," Wall Street Journal,Apr 4, 1927. 18.
18 Ibid.

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pictures on the screen due to the extensive use of Panchromatic film, which is sensitive to
red, yellow, and green, as well as to violet and blue.”19 And secondly, “the development
of a new duplicating film used by the [motion picture] industry as an insurance against
the possible permanent loss of valuable negatives and for the shipment of duplicate
negatives abroad.”20
Weakness Profile
The Roaring 1920s truly roared. American culture and economy surged after
World War I, but it wasn’t just flapper girls and speakeasies, the economy surged forward
as well. “Not only did the latest goods become necessities, consumption itself became a
necessity,”21 and nothing stimulated this necessity quite like advertising. Soldiers
returned home to a country quite different from the one they had left years earlier,
wartime production had helped propel America’s economy forward22 into a massive
machine, ingesting raw materials and spitting out finished products for everyday
consumers to buy. Consumerism, or “the culture surrounding the buying and selling of
products,”23 dominated day-to-day American life. Mass production and new products
changed the way businesses ran. Instead of producing a few well-made things for high
prices, businesses instead moved to mass production of cheaper goods. More and more
Americans could afford to follow trends, like premade clothing and mass produced cars,
that this new capitalist empire promoted. The people of America flocked towards these
19 Ibid.
20 Ibid.
21 "Prosperity," Consumerism, America in the 1920s,America in Class: National Humanities Center, 2012.
Can be found at Nationalhumanitiescenter.org. Accessed Nov 10, 2015.
22 "The Rise of American Consumerism," Can be found on PBS.org, 2015. Accessed Nov 2, 2015.
23 "American Economy in the 1920s: Consumerism, Stock Market & Economic Shift," Can be found on
Study.com. 2015. Accessed Nov 2, 2015.

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new innovations and indulged themselves like they never had before. These new
technologies, like the automobile, household appliances, and mass-produced food
products led to a vibrant consumer culture, and their sales stimulated the economy’s
growth. Installment buying or, “buying on credit,”24 was also popular. This allowed
people to buy things they may not be able to afford all at once, which provided average
Americans the opportunity to buy amenities they had not ever imagined they would be
able to possess before now. All of a sudden there was a rising middle class, ready and
willing to buy goods, furthering the aims of the major corporations. Key political figures
like Warren G. Harding and Herbert Hoover believed that, “if government would just
stay out of business affairs, for example, by lowering taxes and loosening regulations, the
economy would thrive and everyone would benefit.”25 And not surprisingly, that was
how the business world continued to develop in the late 1920s. The government set up
laws to control the rise of monopolies. These monopolies were each controlled by
business giants, and each controlled different parts of the economy and the goods
available to every day Americans. All monopolies were illegal, but the big businesses of
the 1920’s pushed these laws, and found loopholes around them. Some monopolies
ensured that prices stayed low and benefited the population while others were not as
beneficial. Overall the 1920’s was a critical decade for American business, with new
innovations in manufacturing, industrial applications and the economy growing so
rapidly, it was truly a prosperous decade.
24 Ibid.
25 "The Business of America: The Economy in the 1920s," Can be found on Encyclopedia.com. 2015.
Accessed Nov 2, 2015.

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Weaknesses
Intense Competition from Constantly Developing Small Firms:
Due to its incredible size and reach, smaller photographic supply firms and
companies that produced photography equipment and film, were constantly suing Kodak.
Many sued Kodak for the same thing, violating the Sherman Anti-Trust Act. The
Supreme court heard case after case from plaintiffs suing Kodak, “for monopoly in
moving picture films,”26 while lawyers for Kodak vehemently denied this and claimed
that, “their [Kodak’s] ownership did not constitute unfair methods of competition or an
effort to create a monopoly.”27 In one case, a judge ordered that, “Eastman Kodak
Company of Rochester, must pay $183,189.04 to Howard Sutherland, alien property
custodian [who originally worked for a German firm, which Kodak did business with],
within the next ten days.”28 This meant that Eastman Kodak had to pay out almost two
hundred thousand dollars to an employee of another company that sued Kodak for shares
of their stock. Kodak was constantly being attacked on all sides from these anti-trust
suits. In another, more domestic case, the Southern Photos Materials Company of
Georgia, sued Eastman Kodak for violating the Sherman Act. The Supreme Court ruled
that Kodak “did violate the Sherman anti-trust law,”29 and declared “independent dealers
in photographic supplies throughout the country had the right to collect damages from the
Eastman Kodak Company for these violations.”30 Kodak was continually battling in the
26 “Supreme Court Hears Eastman Monopoly Case," Los Angeles Times, Mar 12, 1927. 3.
27 Ibid.
28 "Eastman Loses Suit," New York Times, Apr 03, 1927.
29 "Declares Dealers May Sue Eastman." New York Times, Jul 24, 1927. E1.
30 Ibid.

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legal realm, thus they were constantly on guard and had large teams of lawyers to fight
off these smaller threats. This was a major weakness for any company, but especially one
that fought so hard to have good public relations.
Size Led to Anti-Trust Suits:
Monopolies were a big problem in 1920’s American business, and Kodak was
considered a monopoly on photography supplies and camera equipment. Many plaintiffs
against Kodak, “alleged that the defendant [Kodak] had acquired a monopoly in its line in
restraint of trade, and by buying up competitors, and also obtained control over dealers by
imposing on them restrictive terms of sale, fixing the price of resale, and preventing them
from handling competitive goods.”31 However it was not likely that Kodak actually was
trying to impede other companies from participating in the market. George Eastman even
made all of the photographic innovations he had come up with public, so any company
could use the same processes. Restriction of trade is in direct violation of the Commerce
Clause and thus the Supreme Court took these allegations incredibly seriously.
“Independent dealers in photographic supplies throughout the country, collected damages
from Eastman Kodak,”32 and in doing so, constantly weakened Kodak’s available cash
flow. Albeit only a slight weakness, but to this huge company, small firms constantly
nipping at its ankles would be seen as an annoying inevitability, thus weakening the
company as a whole. Kodak did not always comply with these claims of monopoly either.
The company was in perpetual legal suits, usually more than one at a time. Kodak almost
always, “denied that it had formed monopolies in restraint of trade, or refused to deal
31 Ibid.
32 Ibid.

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with the plaintiff pursuant to a plan to monopolize.”33 Kodak also was frequently sued
over other companies loosing profits. However on this contention, the Supreme Court
usually could not “prove with sufficient certainty to justify a judgment for a fixed sum,”34
to prove malice on Kodak’s part.
Managerial and Employee Relationships:
Eastman Kodak had 21,000 employees in 1927 as compared to two years before
in 1925 with only 16,000 employees,35 which gives a glimpse of how fast the company
was growing. With any quick expansion come issues with production and job placement,
but also with the happiness of the workers. Large masses of workers were flooding into
the manufacturing plants, while it was unclear if management was getting larger to
accommodate the new large amount of employees. Also, if a company grows too quickly
and neglects its workers, there is a high likelihood that those neglected workers will
produce low quality goods or services and actually hurt the value of the company. Kodak
decided that, “5,100 shares of common stock of no par value, to be sold to employees ‘of
seven years continuous and satisfactory service’ for $10 a share.”36 This granting of stock
privileges ensured happy employees who felt connected to their place of work and was a
safeguard against poor workmanship. Although Kodak regularly paid their employees
high salaries and large wage dividends, management rarely heard suggestions from their
employees, which caused unrest. Management was also changing at Kodak in ’27. Two
33 "Declares Dealers May Sue Eastman," New York Times, Jul 24, 1927. E1.
34 Ibid.
35 Eastman Kodak Co., 1927 Annual Report, Mergent Archives. 18.
36 "Eastman Co. Approves Big Wage Dividends." New York Times, Apr 06, 1927. 45.

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members of the board of directors, “Lewis B. Jones and James S. Havens,”37 died and
their successors had not been named. Even today, the death of executive officers has a
large impact on the companies they lead. A company is like a family, and if the leaders of
that family die or are suddenly gone, that company could fall to pieces. The Board of
Directors of most corporations in the 20’s were a tightly knit group of like-minded, rich,
white, males. When someone died, let alone two people, serious issues could occur, like
intense power struggles or even failing to find an adequate replacement.
Opportunities
Large Amounts of Natural Resources:
The 1920’s was a very interesting decade for business, from the rise of mass
manufacturing to intense market competition inspired by thousands of companies
merging together and the advent of hundreds of new businesses appearing all the time, .
Due to the market’s constant growth, opportunities for new products and new consumers
to sell these products to were vast. In regard to resources, Kodak was the main
manufacturer of film, which used silver and gelatin to create “dry plates.” “The gelatin
dry plate process is based on the light sensitivity of silver bromide, which is suspended in
a gelatin binder on a glass support.”38 Meat packinghouses of the 20’s used every single
part of the animal, especially the by-products which came from the actual meat packing
processes. Gelatin, which is “produced by boiling the connective tissues, bones and skins
37 Ibid.
38 "Identification," Graphics Atlas. Image Permanence Institute,Rochester Institute of Technology.2015.
Can be found on Imagepermanenceinstitute.org, Accessed Nov 9, 2015.

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of animals, usually cows and pigs,”39 was abundant at the time, and thus Kodak had no
trouble securing whatever amount of gelatin it could possibly need for manufacturing at a
very cheap price. Silver, used to create silver bromide, was also readily available now
that societies all over the globe were transitioning to paper money (instead of metal
coinage of the past). Furthermore, “The World War and industrial expansion revived
significant demand for base metals [like silver].”40 This intense demand caused a boom of
silver mining so the metal could be used in other applications, like light bulbs, mirrors,
and of course film.
Eager and Intrigued Customer Base:
Photography was springing to the front of people’s work and social lives as the
20’s boomed and the population had more disposable income. Parties were captured,
wars documented, births celebrated, and deaths remembered, all made possible by Kodak
cameras and film. Kodak’s main economic goal was to introduce photography to
everyday Americans, and to grow their client base. Drawing from advertisements for the
“purchase of the smallest Brownie camera or the finest Cine-Kodak, which takes real
motion pictures,”41 and the immense profits, roughly “120 million dollars,”42 from
products sold in 1927, it’s not hard to conclude that Kodak truly was in the perfect
market for it’s technologically advanced product; A market with eager consumers ready
to experiment with new fangled contraptions, advertised to them in a way that they
39 "Gelatin," How Gelatin Is Made, Advameg Inc., 2015. Can be found on Madehow.com. Accessed Nov
10, 2015.
40 "Nevada Mining History," Nevada Mining Association,2010. Can be found on Nevadamining.org.
Accessed Nov 11, 2015.
41 "Display Ad 15 -- no Title," Los Angeles Times, N.d. 1926.
42 Eastman Kodak Co., 1927 Annual Report, Mergent Archives. 14.

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couldn’t resist. In many cities all across the United States, and countries around the
world, Kodak was the go to camera. One could draw parallels between Kodak back then,
and Kleenex today. Kleenex isn’t a specific product or good; It is a brand name for
tissues. Yet people still ask if you have a Kleenex when you start to sniffle, not a tissue.
The name “Kodak” was respected the same way back then. Kodak’s slogan for most of
its existence was, “You Press the Button, We Do the Rest!,”43 This slogan was very
accurate during the 1920’s, once the photograph was taken, film was almost exclusively
developed (processed into actual photographs on paper) by the Kodak Company itself.
Even if you bought a camera from the company you’d always have to pay a small fee to
have your photos developed and new film to be put in your camera. This was a great
prospective opportunity for continuous sales and repeat customers.
Threats
Various Antitrust Suits:
Along with all of the opportunities that the 1920’s brought, came a few immense
threats as well. The Sherman Anti Trust Law passed in 1890, stated, “Every person who
shall monopolize, or attempt to monopolize, or combine or conspire with any other
person or persons, to monopolize any part of the trade or commerce among the several
States, or with foreign nations, shall be deemed guilty of a felony.”44 This law stopped
monopolies and collusion between large corporations and business giants for a while, but
it didn’t outline clearly enough what monopoly technically was. In 1914, the Clayton Act
was enacted by Congress to close any loopholes present and strengthen the Sherman Anti
43 "Milestones," Can be found at Kodak.com, 2015. Accessed Nov 11, 2015.
44 "Transcript of Sherman Anti-Trust Act (1890)," OurDocuments.gov, 2015. Accessed Nov 13, 2015.

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Trust Law. The most important part of the Clayton Act in regards to the Eastman Kodak
Company was section four. This section outlined, “that any person who shall be injured
in his business or property by reason of anything forbidden in the antitrust laws may sue
therefor in any district court of the United States,”45 which truly benefited smaller
companies and individuals, but opened Kodak up to lawsuits from every conceivable
‘injured’ party. Many companies and individuals brought up suits against the company,
even the Federal Trade Commission. “The government contends that the company
[Kodak] owns three laboratories which it threatens to use in the making of prints from
film negatives should the Allied Film Laboratories Association, now engaged in making
the same prints, refuse to use Eastman films exclusively.”46 There was a high likelihood
of Kodak being court ordered to compensate these smaller firms anyway, so the company
couldn’t do much in these situations except pay off the smaller firms, or fight in court.
These lawsuits were an immediate and ever present threat to the company, so teams of
litigators and policy makers were employed by Kodak to keep all of them under control.
This would have been costly and time consuming, which is always a threat to the stability
of a company.
Constant Competition to Stay Current:
The 1920’s were also a time of constant innovation in all fields. Insulin, the
ironlung, the traffic signal, penicillinand bubblegum were all invented in the 20’s.
The United States was a booming industrial nation, constantlyproducingand
perfectinggoods and services. A smaller, but still substantial threat to Eastman Kodak
45 "63rd Congress - Session II," Office of the Law Revision Counsel, Oct 15, 1914.
46 "Supreme Court Hears Eastman Monopoly Case," Los Angeles Times, Mar 12, 1927.

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was the sheer number of people inventing and creating these new machines and
products, and trying to sell them to the masses. Though many of these other inventors
didn’t posses the size and scale that Kodak did, the company still stayedon its toes
researchingand developing new types of products and new ways to advertise them.
In the mid 20’s Kodak partneredwith, “Walter Dorwin Teague, a respected graphic
designer whose influence over the next several decades resulted in some of the most
distinctive cameras ever produced.”47 They partnered with the designer to increase the
brand awareness of Kodak, some of their ideas included introducing the bright yellow
color to the packaging of the cameras to give it a distinct look. “Teague came to be
regarded as a giant among the artists and designers from various disciplines who, by
applying their talents to the design of mass-produced goods, created the field of industrial
design.”48 This became an important aspect of Kodak’s company (and advertising in the
20’s) as a whole. The ever-present threat of new products on the market continuously
drove Kodak to innovate and design more and more.
47 "A Brief History of Design & Usability at Kodak," Can be found at Kodak.com. 2015. Accessed Nov 11,
2015.
48 Ibid.

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17. 17
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