My vision of a rejuvenated Kodak includes the following:
1. Sell off non-photography aspects of business in order to raise cash and focus on primary purpose of company
2. Make consumer still film business more efficient - consolidate film line into 3 or 4 major films at different speeds that encompass all or most of the film market, with a very important "no frills" B&W film that caters to budget and DIY people and is less expensive than anything else on the market (it might even be a loss leader - preferably not - but it would be a very important marketing tool for building an enthusiastic and loyal customer base)
3. Keep doing what they're doing with the motion picture film business - work more on partnerships with key directors, producers, studios, etc. who like using film. Keep in mind that if this market were to grow, Fuji may attempt to undercut it in the future.
4. Initiate aggressive marketing campaign of "make film cool again" or something, targeting young and old alike while not seeming stilted and also NOT simply using nostalgia as a crutch. Nostalgia is a tool, not a business model. If they don't make a good argument for using film in the digital age OTHER than just "feel like you're in the 1970s again", they will not succeed.
5. Innovate in the digital camera industry. This does NOT mean trying to butt your way into an already oversaturated and aggressively competitive market like smartphones. It means creating a whole new market for something new, and not getting pipe dream ideas about your stupid gimmicks being what sells your product ("it shares pictures over WiFi!" "it has all these cool filters that you will never use because everyone just uses Photoshop anyway!").
But they have not been doing any of these things for decades, unfortunately, and if history is any guide they will not start any time soon. They will grow content and complacent with stagnation and probably be knocked out of the ring by an up-and-coming new film company.