Corning Incorporated : the Growth and Strategy Council
Company Background :
Corning Glass Works was founded in 1851 by Amory Houghton, in Somerville, Massachusetts. The company was known as Corning Glass Works until 1989, when it changed its name to Corning Incorporated. Corning Incorporated is an American manufacturer of glass, ceramics, and related materials, primarily for industrial and scientific applications. In 1998 Corning divested itself of its consumer lines of Corning Ware and Corelle tableware and Pyrex cookware.
As of 2008 Corning had four business segments: Display Technologies, Environmental Technologies, Life Sciences, and Telecommunication. Innovation was the core of corning’s Identity, because coning is a science based …show more content…
Fact 3 : The Concept of Patient Money in Corning Key businesses
Corning lost money for 14 years before becoming profitable in 1999. And optical fiber took 20 years to become profitable despite the hundreds millions of dollars the company invested during the 1960 – and 1970s. In 2001 the company approved the appropriations request for a $250 million new factory for the diesel business at a time when telecom business was crashing and the emission regulations for 2007 were not yet in place.
Lesson learned : Sustainability investment on Technology Innovation .
Innovation at corning meant being willing to make significant. Sustained investments knowing that the payback would likely be well into the future. Corning’s Emphasis on innovation and its long term outlook-made the company unique.
Unlike conventional investments in plant and equipment, which generally have declining returns over time, technological investments are argued to produce positive returns through creating new knowledge, options and opportunities (Arthur 1990).
In early 2011 bank bjb cooperate