Question

Based on your analysis and firm's key weaknesses, propose a plan that includes at least one alternative (new project/s) for the company Corning Inc.

Weakness of Corning Incorporated:

Not very good at product demand forecasting leading to higher rate of missed opportunities compare to its competitors. One of the reason why the days inventory is high compare to its competitors is that Corning Incorporated is not very good at demand forecasting thus end up keeping higher inventory both in-house and in channel.

Financial planning is not done properly and efficiently. The current asset ratio and liquid asset ratios suggest that the company can use the cash more efficiently than what it is doing at present.

Limited success outside core business – Even though Corning Incorporated is one of the leading organizations in its industry it has faced challenges in moving to other product segments with its present culture.

Organization structure is only compatible with present business model thus limiting expansion in adjacent product segments.

High attrition rate in work force – compare to other organizations in the industry Corning Incorporated has a higher attrition rate and have to spend a lot more compare to its competitors on training and development of its employees.

The marketing of the products left a lot to be desired. Even though the product is a success in terms of sale but its positioning and unique selling proposition is not clearly defined which can lead to the attacks in this segment from the competitors.

Not highly successful at integrating firms with different work culture. As mentioned earlier even though Corning Incorporated is successful at integrating small companies it has its share of failure to merge firms that have different work culture.

Answer 1