Introduction

Corning Incorporatedinitiated its business with glassware offering in the market, offeringdifferent types of glasses to the large manufactures in the production of products inline.Later in the period, the companyshifted to cookware and graduallyincreased its portfolio from glass, to television, telecommunication,medical, optic fiber, environmental technologies and life sciences.

Such robust growth in multiplesectors has been due to its growth and strategycouncil thatbased its strategy on innovation.According to the council, the company put hands on every innovation that couldbenefit and improve the organization’s stance in the market. In doing so, the companynotmerely focused on the existingsuccessful business unit, but also the unsuccessful unit thatcouldbecome profitable in future.

Though till now, the company has remainedsuccessful in initiating the new business plans and has successfully managed different units in different industries, however, theincreasing fast pace of initiate business model has made it difficult for the companyto manage its core value and essence oftheteam and organizational structure, since it has increased the number of people participating, making communication difficult, along with the fact thatadopting multiple projects at same time will makeitdifficult to choose between which project to select first, hence, theright projectselection at right timing is also an issue.

Corning Incorporated Harvard Case Solution & Analysis

Context

The Corning Incorporateddepictsthe case of rapid innovation in the market. It outlines that in order to remainsustainable in the market, the companyshould innovate its process and product offerings, so as tomitigatetherisk of imitationandmaintain the high market share. The case also depicts the need to diversify the portfoliointo different industries so as tomake the organizationsustainable and safefrom externalcompetition. Part from this, this case teaches us the following things:

• It outlines the importance of the maintenance of the organizational values, structure and team synergy,so as tomaintain the innovation pace.
• Maintainingthe innovation pace with the right resources attheright timer with the right management team is important.
• Depending on one product for business success and sustainability makes the overallbusiness vulnerable to external threats.
• Lastly, it outlines and suggests the methodology to maintain the effective communicationamong theincreasing size of the employee base so as to anchorthe core values of the organization.

Analysis

Why has Corning been able to “reinvent itself” so successfully?

Since its inception, the company has been successful in reinventing itself in order to enhance its position and improve its sale.In doing so, it also remained focused on innovation to run its business engines.Though from imitation, the company pursued differenttrajectory to sell the offerings in different industry, however the main idea remainInnovation.

Since the market Corninginitiated to offer the service in, has been dynamic in nature, with technology advancement and telecom bubble incident, the companyadoptedthe innovation strategy in order to keep itself ahead of thecompetition,leading to rigorousreinvention strategy and thus, success.

In pursuing the innovation strategy, thecompany invested 10% ofthe total revenues in the researchanddevelopment, which allowed it to pursue the innovation through siliconetechnology. Havingsaid that, it can also be assessed that the companysince inception,focusedonsilicon technology offering the technologicallyadvancedglasses in glass industryand then in television.Such offerings benchmarked its brandimage in the market leading to success.................

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