Innovating Out of Crisis: How Fujifilm Survived (and Thrived) As Its Core Business Was Vanishing

by Shigetaka Komori

In 2000, photographic film products made up 60% of Fujifilm’s sales and up to 70% of its profit. Within ten years, digital cameras had destroyed that business. In 2012, Kodak filed for bankruptcy. Yet Fujifilm has boasted record profits and continues strong. What happened? What did Fujifilm do? What do businesses today need from their leaders? What kinds of employees can help businesses thrive in the future? Here, the CEO who brought Fujifilm back from the brink explains how he engineered transformative organizational innovation and product diversification, with observations on his management philosophy.

Shigetaka Komori is Chairman and CEO of Fujifilm Holdings Corporation. Mr. Komori was appointed CEO in 2003 and chairman in 2012.

Genres: Business, Leadership, Management

226 pages, Kindle Edition

First published October 1, 2014

Reviews

[Shrikanth Venne · Rating 4 out of 5]

Mr Komori has set an example to all the VPs and managers of organisation with this book. He has given a way to success in crisis time. All know Japan is one of the leading country in technology and this man has proved it by bringing diversification in the company. This book is a inspirational one to now new managers. He has beautifully specified the problems and also the solution to it. This book should be available in library of each company for reference as Mr Kormori has set an example of entrepreneurship, leader and a patriotism. Overall it's an awesome Goodread... 😃

[Kaushal Gupta · Rating 3 out of 5]

The book, Innovating Out Of Crisis, is divided in two halves, first being called "Fighting for Fujifulm" wherein he writes about how the core business was about to vanish due to technological revolutions taking place outside the organization and with the advent of digital photography, the ease of use, concerning to storage and retrieval of photographs by the end consumer was becoming easy and the camera rolls were to become obsolete soon.

The culminating part of the book, "Innovating Out Of Crisis", is beautifully as well as thoughtfully written and has some real life lessons culminating from the years of experience and the ownership of work as well as fulfillment of responsibility.

There are many learning from the book for the personal as well as professional life, as both your lives are affected by the other in some way or the other. I would recommend this book to everyone starting the careers to read and not only be inspired, but also learn a lot about leadership and success.

Please visit Book Review : Innovating Out of Crisis - Shigetaka Komori to read the complete review of the book.

[Darren · Rating 4 out of 5]

Innovating Out of Crisis
The global market for photographic products and supplies has been stormy in recent times. Digital photography seems to have taken many companies by surprise, torpedoing their business along the way, despite many of these companies being active in the development of this self-same disruptive technology.

So how have companies such as Fujifilm managed to succeed whilst icons such as Kodak became sunk below the waterline? This book, written by the chairman and CEO of Fujifilm takes a hard-hitting, yet sympathetic look at this confounding subject. Both Kodak and Fujifilm had similar businesses, dominated by the sales of photographic film and processing supplies (in 2000 it accounted for 60% of Fujifilm’s sales and about 70% of its profits). Kodak was the much bigger beast and yet just over a decade later Fujifilm had transformed and reported record profits whilst Kodak filed for bankruptcy.

The problem was more than just taking the corporate eye off the ball. Or was it? The author states that Fujifilm’s corporate culture, use of transformational processes, innovation, diversification and a different culture helped it address a changing market whilst simultaneously hammering stakes into lucrative existing and potentially high-growth areas.

This book is more than just a “us versus them” comparison, but an engaging, informative, educational look at a series of complex problems and issues., presented within an easy-to-read, light read that packs a punch. It is much more than just an elongated case study about a business, but it pulls in wider cultural, economic and even political issues to great effect.

Even if you don’t care about the company, look past the name and focus on the experiences and executive actions taken and it may stand you in good stead to make an impact (or possibly avoid some “elephant traps”) along the way. Innovating

Innovating Out of Crisis, written by Shigetaka Komori and published by Stone Bridge Press. ISBN 9781611720235. YYYY
http://autamme.com/innovating-out-of-...

[Mohammad Al-ubaydli · Rating 5 out of 5]

I wish more Japanese businessmen published more books in English like this

I rarely find books by Japanese businessmen, this was a good read. The author - CEO of Fuji Film, a lifer in the company having started out in sales - describes how the company navigated the collapse of film photography in the face of digital cameras. Today it has more revenues and profit than ever before, powered by more technology and products, while Kodak has gone bankrupt.

The book is enjoyably short, the author does not waste pages on ego or repetition as is more often the case with American business books. But I wish he wrote more details and more specific stories about the hard decisions the company made.

I was pleasantly surprised with the ending section focusing on Japan’s economy and politics. His perspective on the country is not one I had heard before in the Western press. He is definitely a traditionalist - old school and advocating old schooling methods - and a fan of Abe, again expressed in a way I had not heard before in the Western press.

[Amarjeet Singh · Rating 5 out of 5]

D.I.Y and self-guide books written by entrepreneurial and leadership figures are often unabashed self-promotional hypes. But Shigetaka Komori's 'Innovating Out of Crisis' is a different piece of work. It is neither purely autobiographical nor entirely advisory. Its beauty lies in the fact that it is penned by a man who singlehandedly led Fujifilm successfully into the digital era and then through the 2008 global financial crunch. The result? He finally outmaneuvered and put paid to Eastman Kodak; the loaded competitor. How did he do it? He has codified his advise in this very book which I am reviewing. If you are that type of leader who wants their pie and also desire to eat it, then this book is your mantra. Read it now; read it forever.

[Gabby-Lily Raines · Rating 5 out of 5]

I've learned quite a few things about Fujifilm reading this book.

It is a straightforward type of account, but not dry. Komori give a bit of his own background later on in the book - which shows how it influenced how he has headed the company into the giant it is. It isn't an "I'm the greatest" type of reading - he has made errors (some larger, some smaller) along the way and he shows them.

What I also liked about the narrative is that his respect for his company's competitors shows through. Fo example, he regretted (at least this is my understanding) that Kodak filed for bankruptcy as he valued their longevity in the market.

Highly recommended reading.

[Niketan Rao · Rating 5 out of 5]

After Kodak declared bakruptcy, there was curiosity as to how Fujifilm - its main competitor survived while its core business (Photographic film) was cannibalised by Digital imaging. Now the then CEO Shigetaka Komori decribes in this book, the steps Fujifilm took to survive. It is interesting to read some key factors such as the company accepting the reality of its core business dying, betting on the right technollogies such as LCD instead of plasma and how its technology could be diversified into producing personal care products.

[Dave · Rating 4 out of 5]

The truth of how Fuji turned themselves around was simple. They saw the end of silver halide film around the corner and continued to diversify the product portfolio using their knowledge in coatings and emulsions. This is only the kind of story that could be written by the winner. The looser in this tale is Eastman Kodak who chose to do the opposite of Fuji— divest themselves of non film product lines and continue to milk the film market for all they could until the gravy train stopped. The message from Komori’s book is hubris is a short term proposition.

[Tiffany · Rating 5 out of 5]

Beating the Odds


Leading in crisis, Fujifilm's CEO led a remarkable transformation. For the current business leader facing disruption a d economic decline, there are many lessons to be learned from how he led the company. I'm curios how the next chapter will play out for Fujifilm.

[Sahathust Num · Rating 5 out of 5]

ผมชอบเล่มนี้ ด้วยเนื้อหาที่กลั่นกรองออกมาจากประสบการณ์ จริงของประธานบริษัท ที่ทำให้ฟูจิเปลี่ยนผ่านจากธุรกิจฟิลม์ที่โฟกัสที่กล้องมาเป็นธุรกิจอื่นที่สามารถทำกำไรได้มากกว่าเดิม เล่มนี้เปรียบเสมือนแผนรบ การวางกลยุทธ์ที่เจ้าของธุรกิจทุกคนควรอ่าน เพื่อนำมาปรับใช้กับงานของตัวเอง และเป็นเล่มที่คอยเตือนใจเป็นอย่างยิ่ง

[Edgar · Rating 4 out of 5]

Good Japanese business PoV on how focusing on hard work and core competencies can help a company evolve. It's important to not be afraid of conflict, to thrive in a competitive environment, and to continuously focus on self improvement.

[albert mulei ndeto · Rating 5 out of 5]

Bold moves

The courage to refocus energy away from the core business to innovate out of a dying industry and to reinvent the organization. Inspiring and a great read for business enthusiasts

[EatMelons · Rating 4 out of 5]

i think it’s a rare business perspective that talks about the case of disruption in such depth, and i think it’s a great read to see how visionary leadership and thinking out of the box can be carried out.

[R. Mark]

Interesting read. Definitely older school Japanese leadership instead of being like the newer Toyota mentoring and being mentored leader model.

[Tum Kanapon · Rating 5 out of 5]

Real Entrepreneur
Real Business case

คิดว่าฟังเรื่องโกดัก กับฟูจิ บ่อยๆ
พึ่งได้อ่านรายละเอียดลึกๆ สนุกมากครับ
หนังสือ Open จัดหน้าสวย อ่านง่าย

หากให้สรุปคือ
Key Take away for Leader and Entrepreneur

ผู้นำ ต้องกล้าหาญ
กล้าตั้งคำถาม กับความจริง
มองระยะยาว
มองผลประโยชน์ของส่วนรวม มากกว่าส่วนตัวเสมอ

Business case คือ
ฟูจิ เห็นแล้วว่าหลังปี 2000 กระแสดิจิตอลมาแน่ เกินต้าน
แต่โกดัก อยากรักษาผลกำไรไว้อยู่

ฟูจิกล้าเชือด Down sizing
หาธรุกิจใหม่ และ M&A หนักมาก
แต่เป็นการ M&A ที่มี Strategy ที่ sync กับ Competency และ Technology หลักของ Fuji (ซึ่งอันนี้คือความเจ๋งนะ) ไม่ได้ซื้ออะไรไปเรื่อย

สุดท้ายดูเหมือนจะสำเร็จ (ณ ปี 2013 ที่หนังสือออก)
เท่าที่ดูข้อมูล รายได้จะ Peak ที่ 27B ในปี 2012 จากนั้นก็ร่วงลงมา อยู่ที่ 20 กว่าๆ
ไม่รู้เกี่ยวกับเปลี่ยน CEO หรือว่า จริงๆสิ่งที่ CEO ตัดสินใจก็เป็นแค่ Short-term อีกแบบ 555

แต่คิดว่าเป็นหนังสือที่อ่านแล้วได้อะไร ให้ 5 ดาวครับ

[Vishesh · Rating 4 out of 5]

A good book, something that'd be kept for future reference by any manager.
There are many sentences which hit you hard on, for example,
Even when the outcome is unclear, you make the decision, confident that it’s correct, and take the lead in achieving success. Whichever way you choose, you give it everything you’ve got to make it work out in the end. That’s what it means to be a leader.

The book has clearly states that we need to keep questioning ourselves
-What can I do to grow stronger as a person?
-What should I study to build a stronger foundation for genuine strength?
-What can I do to produce even greater results in my work?

All in all, it has inspired me to delve into the nitty gritties of my work, deep dive to an extent that just skimming through the reports tells you what to look for and what not to look for. It has taught me different leadership practices, and Komori's style of writing clearly shows the firmness of his character.

[Kme_17 · Rating 4 out of 5]

I received it as a first read. This book was interesting look at the film business. A very easy to read and understand business book. I learn some things about this topic. I also found it interesting that it is written by the film company CEO. Just a solid read.

[Lamar · Rating 5 out of 5]

Won this here and was fascinated at Fujifilm survived while Kodak went under but great!