Corning Incorporated: Reinventing New Business Development Harvard Case Solution & Analysis

Throughout its history, Corning Incorporated maintained a strong commitment to technology and innovation, making about four to six percent of their annual turnover in research, development and engineering (RD & E) by the end of the 1990s, when the figure was 10 percent. Even when the company faced serious financial problems in the early 2000's by accident in the telecommunications industry, the largest business segment, Corning saw the investment in innovation and in particular in the development of new business as a path to recovery. While other companies could reduce their RD & E budgets in a desperate attempt to regain profitability, Corning has increased and the number of formal time, money and resources devoted to the identification of potential new large enterprises. Since the company emerged from the financial crisis, management set a goal to double the speed of Corning, innovation to hold two to four significant new businesses each decade. To achieve its ambitious goals, Corning created an organization called strategic growth. The purpose of this new team had to work with corporate research to identify and develop new, large ($ 0.5 billion), and profitable business opportunities. Under the direction of Dr. Mark Newhouse, vice president of Corning senior strategic growth was more than three years of its charter by the end of 2007. Although the team realized many achievements since its establishment, the question facing Newhouse, his team, and the heads of Corning was how well innovative approach to organic growth works. This case describes the strategic growth of the organization, its process and its problems. "Hide
by Robert A. Burgelman, Lyn Denend Source: Stanford Graduate School of Business 34 pages. Publication Date: June 10, 2008. Prod. #: SM167A-PDF-ENG

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