Corning Incorporated: The Growth and Strategy Council

Introduction

The council for growth and strategy is a group that presents a platform that allows to be challenged and challenged at the same time. These attributes are essential in affirming that has a low attrition ranking; John Igel says that this council helps the company shun from becoming paralysed through group think that is there where many a people in it possess a unique history. Since the council deals with complex, difficult portfolios to put into the measure, therefore then such counsel need have a leadership frontier that will employ their time wisely and also be able to remain focused and objectively for the laborious decision-making process. Firms need such objective oriented strategic groups because of the competitiveness of the corporate market. Such groups if focused have proved to be productive and beneficial to the business owners.

Is your time best spent reading someone else’s essay? Get a 100% original essay FROM A CERTIFIED WRITER!

Save 25%

Organization Structure

The structure of Corning's firm incorporated strategically defined units of the business. The general managers run the units. The managers were answerable to COO, and lastly, a big centred able research team which answered to Joe Miller who was the CTO. The general managers' role was in the development of new products, sale and marketing and product development. Every research that is long-term is handled in the Sullivan Park, which was the firm's biggest and due to expansion R&D structure. It is clear that the centralisation of corning's research Sullivan Park facility saw through companies like LCD leverage their essentials synergies. (Bliss, et al. 2013)

Every business had a technology head who answered directly to the general manager. They also had a company technology head who is at the Sullivan Park and who answered to the manager of technology enhancement or development and made direct links to general manager. There is no bias as knowledge and talent were shared fairly among the firms and groups of research. This view made it easier in that specialty ceramic and glass tech being a common denominator for almost every one of them together with that of R&D which had a centralised obligation. The vice president of the firm noted it. Corning's governance was made up of some key committees.

At the first rankings were the committee management which had the responsibility, for making up business blueprints and control of the company. Operating committee had the responsibility for supervising the businesses of the present year plan for performance. Then lastly, two councils had the mandate for supervising the firm's projects and programs that were for innovation. That is the Corning's council of technology alongside the council for growth strategy.

Growth and Strategic Council

This council is reported to have begun in 2001 through a meeting inside the Corning Tech, at that time it was chaired by one Peter Volanakis and incorporated every firm apart from telecom. When it was crucial meeting were arranged, and this saw particular business heads for analysis and discussion. Ideally, programs that had product concept which proved to meet the market demand together with a significant annual potential revenue together with a fit technologically passed on the growth and strategy council. The programs moved to the latter of the second stage of innovation procedure, and that needed an increased investment in the project.

Its mandate being the firm's management council for innovation, ranges from decision making on pacing up investment over programs, to advising firms on strategies that involved pricing, providing of resource relief programs, and assisting in deciding on if two products competing can succeed together in the same market niche. Also, the determination if a product was capable of surviving independently in order for space for more significant synergies. Their primary objective, however, was the maintenance of a balanced and more significant innovation platform by pacing investment in personal programs and creation of resource allocations with Corning's current and developing business.

Challenges

The GSC advisory capabilities became questionable in that some members wondered if the culture of GCS of honesty and openness conversation would hold water. That was since the meetings become larger and included other members who were not there at the start, and thus ever understood the principal aim of the council well as the senior management did. The other challenge that they were experiencing was its capability to prioritise. One of the directors of programs noted that the GSC would have difficulties to adapt and interact with set programs in the height that it does currently in light of all the new changes that may come their way. The challenge was whether the right opportunities for growth would go to the GSC at the required time and that there will be the relative management of program structure and a talent management in place. (Markey, et al. 2014)

The GSC council through its research team analysed the potentiality of the market in which they intended to venture in. For instance, the diesel business where the council analysed its risk and benefits altogether to see if it was a viable business. The council directed the company in investing in it, and this saw a realisation of a huge profit margin that was all a success for the firm. The organisation consequently improved on its profits while the workers enjoyed a wage increase over that period. Since the leaders are the brainchild of the whole venture, this develops a sense of belonging and entitlement. It also creates trust among them as they are more in touch with the operations of the council. The actions bring a satisfactory aspect to their customers who feel that their need is best served and at the right time.

Conclusion

Growth and the strategic council is a group that any business in the corporate world need to have to spearhead its operation productively. Since this team of experts have a common understanding of the business at stake. This teams best understand that they are at the core place to see the success of the business operations. They set the decision and analyse the market in which the firm intends to invest.

References

Markey, D. S., & Council on Foreign Relations, (2014). Reorienting U.S. Pakistan Strategy: From Af-Pak to Asia.

Organisation for Economic Co-operation and Development., & OECD Staff. (2013). Poland: Implementing Strategic-State Capability. Paris: OECD Publishing

Bliss, K. E., Sugiyama, H., Yamaguchi, A., & Murakami, H. (2013). Japan's Global Health Policy: Developing a Comprehensive Approach in a Period of Economic Stress. Lanham: Rowman & Littlefield Publishers.