The POSCO Way of Field Based Innovation Harvard Case Solution & Analysis

POSCO is one of the biggest and best producers of steel in the world. Since the construction of Pohang Steel Works in 1973, Pohang Iron and Steel Works ("POSCO") is growing in the steel industry in the world. But in the late 1990s, when the Asian financial crisis hit the Korean economy hard, the company began to place great emphasis on innovation as a key source of competitive advantage. Since then, POSCO is making every effort to promote innovation-friendly environment: in 1999, he began the process of innovation to build its innovative hardware, and in 2002 it adopted the Six Sigma, the infrastructure for innovation, and completed its Manufacturing Execution System ("MES ") for effective decision making. Although the equipment and infrastructure for innovation are in place, companies need to adopt innovations in order to maximize corporate performance effectively. In 2008, the global recession and the unstable economic situation has spread from America and was a serious blow to the company's innovation initiatives. Meanwhile, employees were exposed to fatigue from the prolonged drive innovation. Executive Director of POSCO, in Chung Joon-yang, considering the fact that the path of innovation POSCO has made since its take off in earnest in 2006. He must now make the hard decisions about what additional steps the company must take in order to overcome the impending crisis. "Hide
Bowon by Kim, Sanghyung An, Chulsoon park Source: University of Hong Kong, 32 pages. Publication Date: June 21, 2011. Prod. #: HKU943-PDF-ENG

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