11 06 Corning
Add some opuch. May 19, 2014
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CORNING INTEGRATED: ACCELERATING one hundred sixty YEARS OF DEVELOPMENT
Less than six months into his new function as creativity officer intended for Corning Included, Marty Curran was bothered. His past role, since manager of Corning's global optical-fiber business, had been straightforward in comparison. He had taken the task well aware with the broad range of Corning's technology knowledge, but Curran found the sheer number of technologies in a variety of stages of development disconcerting.
Corning experienced just announced an broad restructuring pending revenue and margin pressures in multiple segments. Corning's R& D budget clearly contained languishing projects that needs to be disbanded, nevertheless portfolio definitely also included some successful businesses that might allow the Good fortune 500 company, founded in 1851, to flourish for another 160 years (Exhibit 1). But irrespective of Corning's great breakthrough development, Wall Street still discounted expenditure in technology. Curran remembered a lessons he had learned many years ago: an invention must be commercialized to be an advancement.
As Curran thought about the challenges this individual faced, this individual also remembered his getting together with six months before with Corning CEO Wendell Weeks. In appointing him to the fresh position, Several weeks had requested Curran to lead " an entrepreneurial-focused firm that would work across every business sections to identify and develop near-term revenue chances. вЂќ Weeks also billed Curran with " streamlining the advancement process and creating more quickly product development and speed to promote. вЂќ Slicing to the pursuit, Weeks stated, " I actually don't need you to hit a bunch of home runsвЂ¦but you do need to help each of our R& D investment in start-up applications stop hurting so much. вЂќ1 From a collection of reports in the desk, Curran pulled an update from Yi Jiang, global business movie director for Corning's nascent Advanced-Flow Reactor (AFR) business located in Shanghai and France. Curran sensed a real opportunity, and he was maintained encouraging insight about the technology via colleagues, which include Gary Calabrese and Frank Ritchie. But with Yi Jiang and his little team half a world aside, Curran was hard-pressed to supply them with his usual hands-on combination of growing and pressuring. The team needed guidance, but Curran was missing the band width to provide it at the level he recommended.
Case writer interview.
This case was prepared by Timothy M. Laseter, Professor of Practice, with guidance by Corning Integrated and Marty Curran (MBA '84). It was written as a basis to get class discussion instead of to illustrate effective or ineffective managing of an administrative situation. Copyright laws пѓЈ 2014 by the University or college of Virginia Darden University Foundation, Charlottesville, VA. Almost all rights set aside. To purchase copies, send out an email-based to [email protected] com. No part of this kind of publication could possibly be reproduced, trapped in a collection system, employed in a spreadsheet, or sent in any form or by any meansвЂ”electronic, mechanical, copying, recording, or perhaps otherwiseвЂ”without the permission with the Darden School Foundation.
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Headquartered in rural upstate New York inside the town that it derived its name, Corning had a great innovation online dating back to 1851. Under the management of the Houghton family, the corporation competed simply by producing outstanding products employing advanced technological methods. For...