Group 4_Section 14_Corning.pptx
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Corning invested heavily in medical services and optical fiber, which became their two largest revenue sources generating 26% and 24% respectively. Corning also acquired over eight companies to deepen their expertise in photonics and related technologies. Corning followed a structured innovation process overseen by managers who governed new product development through various stages using an innovation pipeline.
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Client - a company synonymous with the term innovation. Since its inception, the company
founders have instilled a belief in unique product creation, including life altering product
innovations such as the light bulb envelope, TV tube, and optical waveguides. This concept of
innovation has been deemed one of the company's most essential quality programs, bridging
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market, competitors, strengths and weaknesses, and resources; ability to evaluate, prioritize, and
select projects; and executing the selected project well. The key elements of innovation
intervention are: an innovation task force, composed of key innovators; the utilization of company
history as a resource for innovation; a focus on strengths and resources in a project of paramount
importance, referred to as "flexible critical mass;" and a two-and-a-half-day innovation conference
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areas in which the organization had fallen short over the years. By improving innovation by 10%
per year, costs could be cut in half, and doubling that rate would be equivocal to doubling the
RD&E spending level. This success would come down to the restoration of simple fundamentals:
- An environment and culture of energy and enthusiasm
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- The right people in the right places
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· Executive summary
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· Central Intelligence Agency
· Trade Information Center
· Japanese External Trade Organization
· Lexis-Nexis
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· International Trade Centre
· Dow Jones
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be insufficient to maintain company profitability in the future. In the late 1970's and early 1980's
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· Executive summary
· Macroeconomic condition
· Political and cultural environment
· Operations, Marketing, and Human Resource considerations
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· United Nations
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· International Trade Centre
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Cisco restructured its organization from a decentralized model focused on specific customers to a centralized model focused on technology, marketing, and engineering. This was done to promote rapid innovation by eliminating redundant R&D efforts. Cisco also implemented a customer focus initiative to better understand and address customer needs through surveys, field interactions, and customer data analysis. While this increased collaboration and innovation, it also weakened some customer relationships and coordination challenges emerged. Cisco addressed this through acquisition of companies with complementary technologies and cultural integration of acquired employees to maintain customer-centricity.
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Myself Janani Digital marketing consultant located in coimbatore I offer all kinds of digital marketing services for your business requirements such as SEO SMO SMM SMO CAMPAIGNS content writing web design for all your business needs with affordable cost
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Group 4_Section 14_Corning.pptx
- 1. STRUCTURED INNOVATION PROCESS UNDERTAKEN BY CORNING Corning invested heavily and focused on medical services and optical fibre with planning of 10 years of span. These two businesses became the largest contributors with generation of 26% and 24% revenue respectively. Consumer product division consisting of CorningWare , Corelle , Pyrex and Revere was sold Corning acquired more than eight companies to deepen company’s expertise in photonics and related technologies Innovation at Corning followed “Governance of Innovation Pipeline”. Innovation was overseen by several managers who used governance of innovation pipeline to move new business through stages of product development
- 2. Establishment of Strategic growth in order to pursue its strategy of continuous innovation Corning’s operations centred on different glass technologies , each of which catered to a different market and had different cycle times. Corporate Technology Council(CTC) was formed to take decisions on whether early stage 1 (Build knowledge) and stage 2 (Determine feasibility) projects fit in with Corning and whether they were to graduate on to the GSC or needed additional resources Centralized new business development (NBD) function was created specifically to seek out and lead NBD with the objective of exploring new markets, new technologies and potential new businesses outside the strategic focus of current business
- 3. KEY TAKEAWAYS Organizational structure designed in a way that leads to efficient exchange of information Departments work closely together and communicate frequently to solve issues Efficient lines of communication enhance productivity and enables quick decision-making Centralized research facility enabled businesses like LCD and optical fiber to leverage important synergies Movement of people across departments increases knowledge sharing and talent among businesses and research groups
- 4. SYNOPSIS Corning speeded up its decision-making, created a cost-conscious environment and encouraged the horizontal flow of information across the organization Agenda for the leadership must be reviewed. In the past, cost-cutting and right-sizing were high on the agenda. Later, innovation and revenue growth took the lead Leadership team at Corning refrained from looking at the company as a collection of discrete functions. Instead, it decided to transform Corning by taking a comprehensive , integrated approach to the company’s cost structure and growth aspirations
- 5. THANK YOU!