Barbara Pierce from Eastman Kodak went straight for the audience to illustrate managing a reputation issue. She asked “How many of you know Kodak?” All did. “How many use a film camera?” Very few raised their hands. Kodak is navigating the current downturn after a shift from film to digital.
Barbara mentioned a powerful use of social media in managing reputation and news.
At a Feb. 4 investor meeting, Kodak said that it was taking a look at four businesses. Specifically, it said that Image Sensor Solutions and Kodak Gallery, Electrophotographic Printing, and OLED were “businesses in which Kodak has a unique market position, but which require additional investment in order to achieve their full potential.” The company said it would “reposition these businesses by pursuing alliances or other business model changes to reduce risk and enhance revenue and margins.”
Reuters reported the matter accurately, while The Wall Street Journal’s first report incorrectly said that the company was seeking buyers for the four units. The WSJ’s error was repeated on Twitter and several other online sources.
Kodak responded on Twitter and taped a CEO video that went upon YouTube. It pressed all of the news to sales channel. The WSJ corrected the story two days later, but it took this aggressive use of social media to address the error and internal waves it created, particularly among the sales force.
