Corning Inc.: Bringing Rigor to Early-Stage Opportunity Identification
Case: Corning Inc.: Bringing Rigor to Early-Stage Opportunity Identification
1. What is the most relevant dimension of context of this case? Justify your answer.
Corning has had a strong dedication to technology and innovation. However, heavy dependence on a single line of business of telecommunication led it to financial challenges. The case tells us about Corning’s strategic approach towards exploring new business prospects and large opportunities for its future sustainability. Corning’s road map for innovation in new market and technologies is systematic and structured. The dimension of this case is to answer the question how do entrepreneurs identify opportunities for new business ventures? According to Robert Baron, one possibility is that they do so by using cognitive frameworks they have acquired through experience to perceive connections between seemingly unrelated events or trends in the external world. In other words, they use cognitive frameworks they possess to "connect the dots" between changes in technology, demographics, markets, government policies, and other factors. Clean energy and environment being very attractive market along with upcoming government regulations created an opportunity for Corning to evaluate its competencies and SG team to do a thorough research to assess its commercial success. Planning is the key, that’s the message conveyed by Corning, be it approaches, seven questions, research, creative collision or the team members.
2. How is the early market recognition initiative related to Corning’s longstanding commitment to R&D road mapping?
Allocating 10% of annual sales towards R&D and even during difficult times prove Corning’s commitment to innovation. Corning’s capability to innovate in its established business division has been successful. However changes in technology, markets, industry, government policies, and customer needs have pushed Corning to put prognostication to work. Tying possible product
1. What is the most relevant dimension of context of this case? Justify your answer.
Corning has had a strong dedication to technology and innovation. However, heavy dependence on a single line of business of telecommunication led it to financial challenges. The case tells us about Corning’s strategic approach towards exploring new business prospects and large opportunities for its future sustainability. Corning’s road map for innovation in new market and technologies is systematic and structured. The dimension of this case is to answer the question how do entrepreneurs identify opportunities for new business ventures? According to Robert Baron, one possibility is that they do so by using cognitive frameworks they have acquired through experience to perceive connections between seemingly unrelated events or trends in the external world. In other words, they use cognitive frameworks they possess to "connect the dots" between changes in technology, demographics, markets, government policies, and other factors. Clean energy and environment being very attractive market along with upcoming government regulations created an opportunity for Corning to evaluate its competencies and SG team to do a thorough research to assess its commercial success. Planning is the key, that’s the message conveyed by Corning, be it approaches, seven questions, research, creative collision or the team members.
2. How is the early market recognition initiative related to Corning’s longstanding commitment to R&D road mapping?
Allocating 10% of annual sales towards R&D and even during difficult times prove Corning’s commitment to innovation. Corning’s capability to innovate in its established business division has been successful. However changes in technology, markets, industry, government policies, and customer needs have pushed Corning to put prognostication to work. Tying possible product