POSCO is among the largest and finest steelmakers in the world. Since the building of Pohang Steelworks in 1973, Pohang Iron and Steel Company ("POSCO") has grown continuously in the whole world's steel industry.
Since that time, POSCO has made every attempt to promote an innovation-friendly environment: in 1999, it embarked on process innovation to construct its innovation hardware, and in 2002, it adopted Six Sigma, an infrastructure for initiation, and finalised its manufacturing execution system ("MES") for successful decision-making. Despite the fact that the hardware and infrastructure for innovation were in place, in order to maximise corporate performance efficiently, the company needed to internalise the initiation.
In 2008, the worldwide recession and turbulent economic scenario spread from America and dealt a serious blow to the organization 's innovation initiatives. Meanwhile, workers were exhibiting fatigue together with the protracted invention drive. POSCO's chief executive, Chung Joon-yang, is considering what the POSCO manner of innovation has reached from way back its takeoff in earnest in 2006. He must now make a hard decision on what additional measures the company must take to overcome the disaster that is looming.
The POSCO Way of Field Based Innovation Case Study Solution
PUBLICATION DATE: June 21, 2011 PRODUCT #: HKU943-HCB-ENG
This is just an excerpt. This case is about TECHNOLOGY & OPERATIONS
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