Contemperory issues in_it report

CONTEMPERORY_ISSUES_IN_IT
NAME: NIDHI ARORA
WORD COUNT: 3500

Stanley Black & Decker
Introduction
Since 1843, SBD has been providing tools and innovative solutions for builders and
protectors, makers and explorers to repair home, cars, phones. Tools for roads, bridges and
energy consumption are somewhere linked and directed through SBD infrastructure.
In 1910, Duccan Black and Alonzo Decker started their shop in Baltimore, Maryland and six
years later obtained the world’s first patent for portable power tools. In 2010, they came
together as Stanley Black & Decker, a global leading diversified industrial.
SBD is a leading globally diversified and Industrial leader in tools and storage and in security
services. SBD continuously focuses on innovation and digital excellence across its businesses
to outperform with increasing focus on social responsibility.
Stanley brings together best to create meaningful products and services that makes life easier.
Success is defined as delivering value to customer, colleagues and communities.
Stanley Black & Decker ESG Report 2020 1

Culture at Stanley Black & Decker aims to outperform expectations, innovate to win, develop
and reward people to deliver top performance, use powerful tools, respect and embrace
differences and make positive changes to the world.
Outperform Expectation: Stanley is empowered by being accountable and maintain highest
quality standard in everything they do. Its people operate with urgency that stretches beyond
what’s expected.
Innovate to win : Stanley stays ahead of the curve by pushing constant innovation and
positive change.
Rewarding people to deliver top performance: World class company can’t win without world
class talent. Talent demands a culture where innovation can thrive.
Use of powerful tools:
Stanley fulfilment System (SFS) for operational excellence to our digital excellence to enable
digital transformation to workplace by Facebook for social collaboration.
Making positive change in the world:
Three vital aspects of doing business: People, product and planet prove company’s
commitment to sustainable world by holding our suppliers to high standards.
STANLEY Black & Decker Technology Profile
Stanley Black & Decker has a strong technology profile and partners with DeepHow to
deploy AI-powered technology. DeepHow AI platform provides the first solution to train and
transfer knowledge among skilled workers. DeepHow is used to improve knowledge capture,
increase training efficiency and help grow the culture of safety at the company.
Since 2018, it bridges the skills gap challenge in manufacturing, service and construction
industries through AI powered knowledge capturing and learning platform.

Using latest AI technologies, the captured data is extracted and synthesized, converting
complex workflows into step-by-step, how to videos, as learning from videos is the most
preferred way of learning. DeepHow AI platform introduces a paradigm shift for technical
training.
The infrastructure services of the company in area of industrial development is divided into
four categories:
1. Engineered fastening solutions
2. Pipeline services
3. Infrastructure products
4. Aerospace Manufacturing
With Innovative, customized and integrated solutions and systems, its engineered fastening
business meet the assembly challenges around the world. It’s a global leader in
manufacturing industrial solutions with 90% of new automobile and light tracks in Europe
and North America use its engineered fasteners, with 5KM Pipeline with movable objects is
welded by Stanley oil & gas and Wrigley field bleachers demolished by labounty crushes.
Stanley delivers the right solution from automotive assembly and industrial construction to
computers, mobile telecommunications, solar panels and appliances.
Stanley provides world class pipeline services and equipment in more than 100 countries,
offshore and onshore, working under the most extreme conditions and over difficult terrains.
Infrastructure products
Stanley provides tools and services for jobs like building roads, repairing utilities, raising
bridges and laying rail roads with exclusive product line in construction, demolition, scrape
processing, recycling, under water construction and specialty trades.
Reason to choose Stanley Black & Decker
The innovation spectrum of Stanley Black & Decker is quite wide, and the company spread
across 60 countries and is a global leader in tools and storage, in security services and in
engineered fastening. Its innovation engine delivers new products at the rate of 1000+

products and is 45th
in the world first every year. Company’s innovation ecosystem has the
potential to apply latest technologies to its products, processes and business models.
Innovation is in the DNA of the company and has established state of the art manufacturing-
4.0 in Hartford, Connecticut, USA.
Its diverse purpose driven culture allows creation of tools and solutions for the world. People
in the company has uncompromised devotion to performance, innovation customer
satisfaction and social responsibility.
Stanley Black & Decker is recognized around the world. It works with its brand partners to
extend the power and impact of its brand to the fans and audience around the globe.
The company has strategic planning processes in place for business decision making and
strong leadership to support the organization in moving forward and compete and provide the
best of manufacturing solutions on a world-wide scale.
Goal of the company is to inspire makers and innovators to create more advanced sustainable
world in alignment with purpose.
Social Responsibility Strategy

Strategy
Q. No. Statement Score
1 People have a clear idea of how innovation can help us compete 7
https://www.stanleyblackanddecker.com/who-we-are/how-we-innovate
6 Our innovation strategy is clearly communicated so everyone knows the
targets for improvement 7
https://www.stanleyblackanddecker.com/social-responsibility/performance-
metrics
11 People know what our distinctive competence is – what gives us a competitive
edge 7

https://www.stanleyblackanddecker.com/article/stanley-black-decker-
brands-win-14-popular-mechanics-2021-tool-awards
16 We look ahead in a structured way (using forecasting tools and techniques) to
try and imagine future threats and opportunities
5
metrics
21 Our top team have a shared vision of how the company will develop through
innovation
7
https://www.stanleyblackanddecker.com/social-responsibility/our-mission
26 There is top management commitment and support for innovation 7
https://www.weforum.org/agenda/2020/10/5-ways-to-keep-workforces-
operating-in-the-pandemic-and-beyond/
31 We have processes in place to review new technological or market
developments and what they mean for our firm's strategy
7
https://www.stanleyblackanddecker.com/social-responsibility/our-mission
36 There is a clear link between the innovation projects we carry out and the
overall strategy of the business
5
brands-win-14-popular-mechanics-2021-tool-awards
Explanation of above Score
Stanley Black & Decker Innovation Ecosystem
SBD has an inspiring innovation ecosystem for its people to shape its future. They are
innovating to become the world’s greatest innovators with the goal of applying advance
technologies to its products, processes and business models. Their ecosystem harnesses the

potential of internal and external sources through collaboration with entrepreneurs, academic
institutions, research labs and others.
Its innovation hubs around the world have dedicated teams to develop game changing
solutions with the potential to generate annual revenue in excess of $100 million.
It has dedicated teams for Tools & Storage, engineered fastening, Oil & Gas, Infrastructure &
Security pursue ideas on their own and also collaborate to drive internal initiatives and
explore ideas outside.
For example, Data scientists in SBD use AI to optimize dispatch of service technicians for
faster resolution and scalable operations, while reducing drive time carbon emissions.
STANLEY Ventures is bringing outside innovation into the company through venture capital
investments such as PriaTM, which is a remotely monitored automated medication
management and home health assistant.
STANLEY partners with Techstars to select startups from around the world with the goal of
bringing manufacturing technologies to market and also to bring ecologically friendly
packaging.

Stanley has successfully established Manufactory 4.0 for efficient manufacturing in Hartford,
Connecticut, USA – the epicenter for company’s global Industry 4.0 “smart factory” and
workforce upskilling initiatives.
Social Responsibility strategy:
The goal of the company is to inspire innovators and makers and have strong commitment to
corporate social responsibility with enhanced strategy that is rooted to the purpose.
Empowering makers, innovate with purpose and create a more sustainable world is the final
goal of CSR and it enables 10 million creators and makers to thrive in the changing world.
Innovate with products to enhance lives of 500 million people and improve environmental
impacts and positively impact the environment through our operations.
Processes
2 We have processes in place to help us manage new product development
effectively from idea to launch 7
https://www.stanleyblackanddecker.com/who-we-are/how-we-operate
7 Our innovation projects are usually completed on time and within budget 7
https://www.stanleyblackanddecker.com/who-we-are/how-we-innovate
12 We have effective mechanisms to make sure everyone (not just marketing)
understands customer needs) 7
announces-opening-new-craftsman-plant-fort-worth-texas
17 We have effective mechanisms for managing process change from idea
through to successful implementation
7

https://www.innovation-gen.com/student-challenge/about-challenge
22 We systematically search for new product ideas 6
https://www.stanleyblackanddecker.com/article/developing-breakthrough-
innovation-jobsite-future
27 We have mechanisms in place to ensure early involvement of all departments
in developing new products/processes
6
https://www.stanleyblackanddecker.com/social-responsibility/diversity-
inclusion
32 We have a clear system for choosing innovation projects 6
https://www.stanleyblackanddecker.com/social-responsibility/innovate-
purpose
37 There is sufficient flexibility in our system for product development to allow
small ‘fast-track’ projects to happen
6
Explanation of scores:
Process Improvement
Stanley Fulfilment System (SFS) is its operating system and engine for continuous
improvement helping people to drive excellence across businesses. SFS 2.0 focuses on drive
through innovation, digital excellence, commercial excellence and functional transformation
as a global industrial company.
•Top position in Tools and security services
Global
•Centralized Innovation system --> From a products company
to a global digital company.
Digital
•Improved customer loyalty
Human-centered
•High Perfromance-continues to grow in strength
Industrial

In 2016, Stanley annual revenue has grown to $11.5 Billion. Stanley aims to double the
company by 2022, increasing revenue to $22 Billion.
Targets to achieve a common goal:
STANLEY clearly communicates its targets for achieving a common goal in the form of
ECOSMART Scorecards each specifying the goals for Energy, carbon, water and waste
intensity.

Innovation projects are completed on time and within budget as its marked world’s first
every year 45 times with 1000+ innovations every year.
The goal of global social responsibility strategy is within reach because of dedicated,
engaged, inclusive and collaborative workforce. They support an environment where
diversity can thrive.
U.N sustainable development goals is engagement & collaboration, development, well-being,
values and behaviors, diversity and inclusion.
Developing breakthrough innovation for the growth and success of its business has been an
essential driver. Pushing boundaries of what is possible and creating a powerful culture of
breakthrough innovation with teams across enterprises collaborating to invent unique
solutions to disrupt traditional markets.
Organization

3 Our organisation structure does not stifle innovation but helps it to happen 7
https://www.stanleyblackanddecker.com/who-we-are/our-culture
8 People work well together across departmental boundaries 4
13 People are involved in suggesting ideas for improvements to products or
processes 7
celebrates-third-annual-maker-month-focused-empowering-skilled-workers
18 Our structure helps us to take decisions rapidly 7
https://www.stanleyblackanddecker.com/who-we-are/our-leadership
23 Communication is effective and works top-down, bottom- up and across the
organisation 5
https://www.stanleyblackanddecker.com/who-we-are/board-
directors
28 Our reward and recognition system supports innovation 7
https://www.stanleyblackanddecker.com/article/making-good-challenge-call-
entries-now-open
33 We have a supportive climate for new ideas - people do not have to leave the
organisation to make them happen 7
https://worldskills.org
38 We work well in teams 7
https://www.stanleyblackanddecker.com/who-we-are/code-business-
ethics/promoting-respectful-inclusive-workplace
Explanation for above score:
Organization Structure:

Stanley has structured Organizational teams for various departments, board of Directors for
decision making and is made up of 1000s of unique people comprising of diverse cultural
backgrounds and embrace, nurture talent and promote workplace respect.
Stanley is committed to security and safety of its workforce. It encourages to solve real world
problems for a chance to win up to $15000 challenges.
Empowering skilled workers through Stanley B&D maker month program focused on
empowering skilled workers & Tradespeople.
With operations in more than 50 countries, spanning six continents, Black & Decker is made
up of thousands of unique people. With people from different cultures and backgrounds,
sharing a common belief and skills needed to create solutions. We nurture talent, embrace
differences and promote workplace respect.
As part of diversity and inclusion, Stanley values open dialogue with no tolerance for
retaliation. Any serious misconduct is not tolerated.
Stanley is committed to workplace security and safety of workforce.
Collaboration through Social Media
Stanley has public websites and operating social media accounts like Facebook, Twitter,
LinkedIn etc. for sharing information.
Before posting information, details like tone of information is deeply scrutinized and is
checked with ethical standards of the company.
Social media and internet postings sites include, but are not limited to: Facebook, Tumblr,
LinkedIn, YouTube, Instagram, Vimeo, Flickr, Picasso, Twitter, blog and vlog sites, wikis,
and any other site where text can be posted.
Ethics at Stanley B&D:
Courageously standing for what’s right, achieving performance we can be proud of and
demonstrating integrity in all we do.

Stanley Black & Decker is committed to people speaking up, sharing ideas, and voicing
concerns safely and constructively.
In situation of dilemma, the ethical decision model can help you think through it.
Firstly, checks if the there is an ethical issue or something that concern me? If yes, then what
I encountered is legal or not? If yes, does what I encountered align with Stanley B&D values?
If No, speak up and speak appropriate help. Am I comfortable seeing this in public
communication & social media? If yes, Execute.
All employees should feel empowered to raise concern, suspect violation or unethical
behavior.
As part of organizational initiative, students are encouraged to solve real world problems for
a chance to win cash price up to $15k. It can be worked individually or in teams to develop
unique product designs that meet societal or environmental need. The making for good
challenge builds upon Innovation Generation program – igniting, engaging, and empowering
students to become makers through no-cost dynamic digital resources. Through no cost
dynamic exploration of STEAM, innovation generation cultivates student’s collaboration,
problem solving and creative thinking.
Linkages
4 We have good ‘win-win’ relationships with our suppliers 7
https://www.stanleyblackanddecker.com/social-responsibility/responsible-
sourcing
9 We are good at understanding the needs of our customers/end-users 7
https://www.stanleyblackanddecker.com/social-responsibility/innovate-
purpose
14 We work well with universities and other research centres to help us develop
our knowledge
7
https://www.techstars.com/accelerators/stanley

19 We work closely with our customers in exploring and developing new
concepts 7
https://www.stanleyblackanddecker.com/our-businesses/our-brands
24 We collaborate with other firms to develop new products or processes 7
https://www.stanleyblackanddecker.com/article/fostering-innovation-
masschallenge-partnership-boston
29 We try to develop external networks of people who can help us - for example,
with specialist knowledge
7
https://www.stanleyblackanddecker.com/article/stanley-black-decker-partners-
deephow-deploy-ai-powered-technology
34 We work closely with the local and national education system to
communicate our needs for skills
5
https://www.innovation-gen.com/student-challenge/about-challenge
39 We work closely with ‘lead users’ to develop innovative new products and
services
6
https://www.stanleyblackanddecker.com/article/stanleytechstars-
accelerator-announces-second-annual-class
Explanation of the above scores:
Stanley B&D is committed to developing a diverse supply chain that contributes to
sustainable business. It sources its raw materials, components and services and finished goods
from suppliers that meets the sustainability criteria. Suppliers are encouraged to participate in
their CDP supply chain program to benchmark their individual performance and find
improvement opportunities.

Stanley + TechStars, Stanley partners with TechStars to run accelerator focused on AI in
advance manufacturing.
Stanley has partnered with 10 companies from around the globe focused on additive
manufacturing and on developing sustainable packaging solutions for achieving advanced
manufacturing excellence -Manufacturing 4.0
Additive manufacturing is one of the most important technological transformation and has the
potential to influence the decision of industries in which business operate.
Stanley and TechStars program also help emerging companies build their business via
funding and mentorship.
Innovate with Purpose:
With the goal to impact 500 people by 2030, Innovate with purpose is defined as sustainable
development, addressing unmet social needs and achieving a level of innovation. Some of the
products that meet this criterion are:
• Nadi smart solar pump for sustainable irrigation
• Renewable energy industry support with neobolt®
• Pria™ mobile home health assistant
• Arbutus medical: a collaboration for the greater good

• Cordless power & performance
• Product take-back through battery recycling with call2recycle
• Combatting plastic pollution through innovative packaging
• Circularity challenge with basf and greentown labs
Their brands have a meaningful impact on people’s lives and are recognized around the
world. They extend the power and impact of their brand to their fans and audiences around
the globe. They collaborate with 23 brands to deliver exceptional tools, security and Industry
solutions like STANLEY, DeWalt, Black + Decker, Craftsman, Irwin, Porter + Cable,
FACOM, Lenox, Lista, Mac tools, Stanley security, Vidmar, Bostitch, Stanley Healthcare,
Stanley Infrastructure, Sonitrol, Stanley Access Technologies, Proto, AeroScout, Paladin,
PENGO, CAM.
Techstars:
Techstars is a worldwide network that helps entrepreneurs succeed. Techstars founders
connect with other entrepreneurs, community leaders and corporations to grow their
companies. It has three divisions: startup programs, mentorship-driven accelerator programs,
and corporate innovation partnership. Techstars portfolio includes 1700 companies with a
market cap of $22 billion.
Stanley Techstars class includes:
1. Accelerate 3D -Manufactures large-scale 3D printers which print 10X faster than the
market standard
2. Craste – Builds sustainable products for packaging from waste crop residue.
3. Boxologic – Creates robotic, instant, right sized packaging for e-commerce fulfilment.
4. NVEarth - Produces bio-based lubricants, cleaners and absorbents
5. OCCO - Provides molecularly fresher ingredients in more sustainable packaging
6. Prinsta – develops next gen of electronic manufacturing.
7. Triditive – first automated industrial hybrid AM machine for mass production
8. Tuffel – Focused on building next gen of power tools
9. Umeleon – Customized filaments of FDM printers on demand
10. WOMP – An AI powered platform for generating, interacting and making objects.

Stanley Techstars program helps emerging companies build their businesses via funding and
mentorship.
Within one year of participation in the program, the first class has collectively raised over $6
million and several companies have expanded or are in talks for deals with major companies.
Four of the startups are establishing their business presence in Connecticut – CALT
Dynamics from Ireland, MetalMaker 3D from Canada, Astroprint from San Diego and
Kwambio from the Ukraine.
Learning
5 There is a strong commitment to training and development of people 7
https://www.stanleyblackanddecker.com/social-responsibility/empower-
makers
10 We take time to review our projects to improve our performance next time 7
https://www.stanleyblackanddecker.com/article/3-out-4-americans-built-their-
home-improvement-skills-2020-craftsmanr-builthome-survey-finds
15 We learn from our mistakes 7
ethics/demonstrating-integrity-all-we-do
20 We systematically compare our products and processes with other firms 6
ethics/demonstrating-integrity-all-we-do
25 We meet and share experiences with other firms to help us learn 6

metrics
30 We are good at capturing what we have learned so that others in the
organisation can make use of it
7
https://www.stanleyblackanddecker.com/sites/stanleyblackanddecker.com/files
/sbd_sustainability_social_accountability_manual.pdf
35 We are good at learning from other organisations 6
40 We use measurement to help identify where and when we can improve our
innovation management
7
https://www.stanleyblackanddecker.com/article/developing-breakthrough-
innovation-jobsite-future
Explanation of the scores above
Empowering Makers:
Stanley enables its makers and creators with required education, learning and upskilling to
ensure they thrive in the new context. It helps employees gain the skills and expertise needed
to secure jobs and revitalize communities.

Stanley’s ACTIONS to 2030 GOAL

Stanley is cautious in its trade relationships and carefully maintains privacy of its customers
and employees under its business code of conduct. There are laws and processes in place that
must be followed.
It maintains accurate financial records and protects company’s assets.
Stanley is committed to transparent reporting of its environment, health and safety results.
Using 2015 data, it has set its five-year target to reduce impact on people and planet while
improving sustainability of our products.
As part of Stanley 2030 goals, through STEAM education and training it enables people to
improve livelihoods and help support the workforce of tomorrow.
Vocational and trade skills helps people develop cutting edge vocational and trade skills.
Through maker space training, Enrich education, creativity and hands-on job experience of
people through makerspace around the world.
Through Employee career mobility program relevant for Industry 4.0 supportive of upskilling
and repurposing.
About Stanley’s donations:

Stanley is committed to communities where they live and work. It donated $7 Million to non-
profits around the world. 283,000 external volunteers equipped with our tools to make a
difference in their communities.
Company’s charitable donations means employee directed spend via matching gift programs,
through guidance from our resource group and in-kind donations to various organizations
around the globe.
It is empowering citizens through education, global partner with WorldSkills, inspiring
thousands of young people from around the world in skill competition including carpentry,
automobile technology, cabinet making, etc. we support world skills efforts to advance what
it means to be makers by including new cutting edge skills such as robotics, drone flight and
repair and cyber security. At world skills competition, we empower more than 1000 makers,
creators from more than 50 countries.
At Stanley, communities work together to support employee’s passion. Employees are
actively engaged in their backyard through efforts, in-kind donations and strategic
partnership.
Company’s Innovation Profile
When you have finished, add the totals for the questions in the following way:
Q. No. Score Q. No. Score Q. No. Score Q. No. Score Q. No. Score
1
6
11
16
21
7
7
7
5
7
2
7
12
17
22
7
7
7
7
6
3
8
13
18
23
7
4
7
7
5
4
9
14
19
24
7
7
7
7
5
5
10
15
20
25
7
7
7
6
7

26
31
36
7
7
7
27
32
37
6
6
6
28
33
38
7
7
7
29
34
39
6
7
7
30
35
40
7
6
6
Totals 54 52 51 53 53
÷ by 8
Your
score
for…
Strategy
6.75
Processes
6.5
Organization
6.4
Linkages
6.6
Learning
6.6
Now plot a profile for the five dimensions:
Strategy= 6.75
Processes = 6.5
Organization = 6.4
Linkages = 6.6
Learning = 6.6

Analysis of Results:
The company is having strong stand in innovation, the analysis shows a score of nearly
above 6.5 on all five dimensions of strategy, process, organization, linkages, and learning.
Part B: Recommendations
Recommendations for how policies and practices might be improved.
After careful analysis, it is recommended that capturing information regarding mistakes made
so that others can learn from it. Problem of delay and overrun persist. Therefore, deploying
post-project reviews and other learning capture devices. Link to ‘standard operating
procedures’ and other ratchets to capture and preserve and share. Codify and share across the
organization.
Indications as to how such change management programs would be implemented.
To implement change management programs, the organization needs to follow the process
of Recognition: Identifying the patterns of problems and renewals required.
Reality: understanding the challenge killers and deciding where to focus the energy to face
them.
Reciprocity: exchanging teachings and learnings
Resilience: Building resistance to pain points.
Resonance: Creating emotional support for success.
Relationship: Connecting with other teams, partners and organisations that care about the
change.
Renewal: Renewals that builds future for both individuals and organisations.
For Instance, To implement the change management program Review and extend market
research tools, especially those aimed at getting close to ‘the voice of the customer’ (VOC).
Explore tools and techniques which bring in users at the ‘fuzzy front end’ of the innovation
process. Use quality function deployment (QFD) to ensure the VOC gets heard throughout
the organization.

Conclusion
Overall, Across five dimensions there is clear policy implementation and practices and
following can be concluded about each of them.
The strategy- People have clear idea of how innovation can help them compete.
The process- There are processes in place to manage products/services effectively from ideas
to launch.
The organization-The culture is supportive of innovation, people do not feel constrained.
There is enough time and space for innovation. Innovation is recognized and rewarded.
The linkages- There are effective mechanisms in place to make sure everyone understands
customer needs.
The learnings- There is enough documentation available on learnings and resources that
other organizations or leaners can use and make use of it.
References:
Katarzyna Żyminkowska, Tomasz Żyminkowski, Rafał Błaszczyk, 2017, Effects of customer
engagement behavior, Journal of Economics and Management, Vol(28).
Thomas e. Conine, jr., The Virtual Simulation: A Tool for Leadership Education in Global
Corporations, Global Business and Organization Excellence, Wiley publications
Anna Milewska , Małgorzata Jóźwik, organization and changes of local government finance
system in view of implementation of participatory budgeting, 2014, 125-134
Stanley Black & Decker, Inc, SWOT Analysis, Company Profile
https://web.a.ebscohost.com/ehost/pdfviewer/pdfviewer?vid=43&sid=973b38c5-8b52-48cc-
bea6-27ba056bbe59%40sessionmgr4007

Stanley Black & Decker ESG Report 2020, https://ir.stanleyblackanddecker.com/static-
files/6082f7a0-6298-47f6-9e60-032145c1cf20

Contemperory issues in_it report

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