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Polaroid was a quite a successful company in the 70’s and late 60’s. The company underwent a lot of changes later. These changes, characterized by mergers and acquisitions, have reduced the company to a shell in the current world. Many scholars compare Polaroid’s stellar success and superb market-leading innovations to the current Apple’s.
The then CEO of the company draws a lot of comparison to the current Apple CEO Steve Jobs. This is a reflection of just how the company enjoyed unrivalled success in its industry during its heyday. The company specialized in making photography products. These products include cameras, films and others.
The company is trying a comeback after going under. It has employed the services of renowned celebrities such as Lady Gaga to market its products. Recently, the company launched a pair of ‘cool’ glasses that can take digital photos. This intended comeback of Polaroid is subject to study of product development and the cycles that they take.
The company in itself was a product. It sold far and wide and in its home country, the United States, it was in favor of a sizeable number of consumers. That is not the case anymore. Other more innovative and successful companies in that field have sprung up. This has competition become unrivalled. Furthermore, quite a large market that the company served then has evolved to a different kind. This is in the advent of technology and changes in tastes and preferences.
Product Life Cycle Stage
In this study, the company is a product in itself. It undergoes stages that a normal product undergoes. Currently, the company is in the last stage of a product development cycle. In the times it enjoyed great success the company was in the growth and maturity stages.
Now it is in a decline stage. At this stage, there are many costs associated with a possible reentry to the market. The company has to come up with new products and rethink its strategies in the face of declining sales volume and prices (Box, 1983).
The company CEO of an electronics company is faced by a challenging situation. He has to put off a possibility of laying-off workers. The only reprieve is a contract that the government is offering him. However, the contract has an unethical dimension that has got Moore thinking.
The contractors have offered to make sure the contract goes through if he gives them a 5% cash back rebate. This rebate should be stated in the contract. If he does not take the contract, he will end up laying-off workers and facing a possibility of his company going under.
This is an ethical issue in contracting. It can be labeled as corruption and fraud. In many countries, this can lead to possible blacklisting. It is a criminal offence in other countries with phenomenon jail terms.
In this particular country the need for favoritism so as to win some business advantage is common place. Moore is between a hard place and a rock. Does he go along and pay the 5% rebate or does he just do away with this golden opportunity. My advice would be that he seizes the opportunity.
This is because there will be little aftermath, if any, that will characterize the contracting. However, in the event that he ignores that contract on the basis of ethics, the aftermath will be a painful affair. This is because he will have to lay off staff since he cannot meet the costs of business.
Box, J. (1983). Extending Product Lifetime: Prospects and Opportunities. European Journal of Marketing, 17: 34–49.