Swot Analysis of "Corning Glass Works International, Part II: Interviews with Top Management, Video" written by Michael Y. Yoshino, Christopher A. Bartlett includes – strengths weakness that are internal strategic factors of the organization, and opportunities and threats that Corning Glass facing as an external strategic factors. Some of the topics covered in Corning Glass Works International, Part II: Interviews with Top Management, Video case study are - Strategic Management Strategies, International business, Organizational structure, Product development and Organizational Development.
Some of the macro environment factors that can be used to understand the Corning Glass Works International, Part II: Interviews with Top Management, Video casestudy better are - – central banks are concerned over increasing inflation, supply chains are disrupted by pandemic , increasing transportation and logistics costs, digital marketing is dominated by two big players Facebook and Google, there is backlash against globalization, wage bills are increasing, there is increasing trade war between United States & China,
competitive advantages are harder to sustain because of technology dispersion, talent flight as more people leaving formal jobs, etc
Introduction to SWOT Analysis of Corning Glass Works International, Part II: Interviews with Top Management, Video
SWOT stands for an organization’s Strengths, Weaknesses, Opportunities and Threats . At Oak Spring University , we believe that protagonist in Corning Glass Works International, Part II: Interviews with Top Management, Video case study can use SWOT analysis as a strategic management tool to assess the current internal strengths and weaknesses of the Corning Glass, and to figure out the opportunities and threats in the macro environment – technological, environmental, political, economic, social, demographic, etc in which Corning Glass operates in.
According to Harvard Business Review, 75% of the managers use SWOT analysis for various purposes such as – evaluating current scenario, strategic planning, new venture feasibility, personal growth goals, new market entry, Go To market strategies, portfolio management and strategic trade-off assessment, organizational restructuring, etc.
SWOT Objectives / Importance of SWOT Analysis and SWOT Matrix
SWOT analysis of Corning Glass Works International, Part II: Interviews with Top Management, Video can be done for the following purposes –
1. Strategic planning using facts provided in Corning Glass Works International, Part II: Interviews with Top Management, Video case study
2. Improving business portfolio management of Corning Glass
3. Assessing feasibility of the new initiative in Organizational Development field.
4. Making a Organizational Development topic specific business decision
5. Set goals for the organization
6. Organizational restructuring of Corning Glass
Strengths Corning Glass Works International, Part II: Interviews with Top Management, Video | Internal Strategic Factors
What are Strengths in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The strengths of Corning Glass in Corning Glass Works International, Part II: Interviews with Top Management, Video Harvard Business Review case study are -
Sustainable margins compare to other players in Organizational Development industry
– Corning Glass Works International, Part II: Interviews with Top Management, Video firm has clearly differentiated products in the market place. This has enabled Corning Glass to fetch slight price premium compare to the competitors in the Organizational Development industry. The sustainable margins have also helped Corning Glass to invest into research and development (R&D) and innovation.
Diverse revenue streams
– Corning Glass is present in almost all the verticals within the industry. This has provided firm in Corning Glass Works International, Part II: Interviews with Top Management, Video case study a diverse revenue stream that has helped it to survive disruptions such as global pandemic in Covid-19, financial disruption of 2008, and supply chain disruption of 2021.
Ability to lead change in Organizational Development field
– Corning Glass is one of the leading players in its industry. Over the years it has not only transformed the business landscape in its segment but also across the whole industry. The ability to lead change has enabled Corning Glass in – penetrating new markets, reaching out to new customers, and providing different value propositions to different customers in the international markets.
Low bargaining power of suppliers
– Suppliers of Corning Glass in the sector have low bargaining power. Corning Glass Works International, Part II: Interviews with Top Management, Video has further diversified its suppliers portfolio by building a robust supply chain across various countries. This helps Corning Glass to manage not only supply disruptions but also source products at highly competitive prices.
High switching costs
– The high switching costs that Corning Glass has built up over years in its products and services combo offer has resulted in high retention of customers, lower marketing costs, and greater ability of the firm to focus on its customers.
Analytics focus
– Corning Glass is putting a lot of focus on utilizing the power of analytics in business decision making. This has put it among the leading players in the industry. The technology infrastructure suggested by Michael Y. Yoshino, Christopher A. Bartlett can also help it to harness the power of analytics for – marketing optimization, demand forecasting, customer relationship management, inventory management, information sharing across the value chain etc.
Strong track record of project management
– Corning Glass is known for sticking to its project targets. This enables the firm to manage – time, project costs, and have sustainable margins on the projects.
Innovation driven organization
– Corning Glass is one of the most innovative firm in sector. Manager in Corning Glass Works International, Part II: Interviews with Top Management, Video Harvard Business Review case study can use Clayton Christensen Disruptive Innovation strategies to further increase the scale of innovtions in the organization.
Cross disciplinary teams
– Horizontal connected teams at the Corning Glass are driving operational speed, building greater agility, and keeping the organization nimble to compete with new competitors. It helps are organization to ideate new ideas, and execute them swiftly in the marketplace.
Ability to recruit top talent
– Corning Glass is one of the leading recruiters in the industry. Managers in the Corning Glass Works International, Part II: Interviews with Top Management, Video are in a position to attract the best talent available. The firm has a robust talent identification program that helps in identifying the brightest.
Effective Research and Development (R&D)
– Corning Glass has innovation driven culture where significant part of the revenues are spent on the research and development activities. This has resulted in, as mentioned in case study Corning Glass Works International, Part II: Interviews with Top Management, Video - staying ahead in the industry in terms of – new product launches, superior customer experience, highly competitive pricing strategies, and great returns to the shareholders.
Learning organization
- Corning Glass is a learning organization. It has inculcated three key characters of learning organization in its processes and operations – exploration, creativity, and expansiveness. The work place at Corning Glass is open place that encourages instructiveness, ideation, open minded discussions, and creativity. Employees and leaders in Corning Glass Works International, Part II: Interviews with Top Management, Video Harvard Business Review case study emphasize – knowledge, initiative, and innovation.
Weaknesses Corning Glass Works International, Part II: Interviews with Top Management, Video | Internal Strategic Factors
What are Weaknesses in SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The weaknesses of Corning Glass Works International, Part II: Interviews with Top Management, Video are -
Increasing silos among functional specialists
– The organizational structure of Corning Glass is dominated by functional specialists. It is not different from other players in the Organizational Development segment. Corning Glass needs to de-silo the office environment to harness the true potential of its workforce. Secondly the de-silo will also help Corning Glass to focus more on services rather than just following the product oriented approach.
High cash cycle compare to competitors
Corning Glass has a high cash cycle compare to other players in the industry. It needs to shorten the cash cycle by 12% to be more competitive in the marketplace, reduce inventory costs, and be more profitable.
Ability to respond to the competition
– As the decision making is very deliberative, highlighted in the case study Corning Glass Works International, Part II: Interviews with Top Management, Video, in the dynamic environment Corning Glass has struggled to respond to the nimble upstart competition. Corning Glass has reasonably good record with similar level competitors but it has struggled with new entrants taking away niches of its business.
Low market penetration in new markets
– Outside its home market of Corning Glass, firm in the HBR case study Corning Glass Works International, Part II: Interviews with Top Management, Video needs to spend more promotional, marketing, and advertising efforts to penetrate international markets.
Aligning sales with marketing
– It come across in the case study Corning Glass Works International, Part II: Interviews with Top Management, Video that the firm needs to have more collaboration between its sales team and marketing team. Sales professionals in the industry have deep experience in developing customer relationships. Marketing department in the case Corning Glass Works International, Part II: Interviews with Top Management, Video can leverage the sales team experience to cultivate customer relationships as Corning Glass is planning to shift buying processes online.
Interest costs
– Compare to the competition, Corning Glass has borrowed money from the capital market at higher rates. It needs to restructure the interest payment and costs so that it can compete better and improve profitability.
Slow to harness new channels of communication
– Even though competitors are using new communication channels such as Instagram, Tiktok, and Snap, Corning Glass is slow explore the new channels of communication. These new channels of communication mentioned in marketing section of case study Corning Glass Works International, Part II: Interviews with Top Management, Video can help to provide better information regarding products and services. It can also build an online community to further reach out to potential customers.
Slow to strategic competitive environment developments
– As Corning Glass Works International, Part II: Interviews with Top Management, Video HBR case study mentions - Corning Glass takes time to assess the upcoming competitions. This has led to missing out on atleast 2-3 big opportunities in the industry in last five years.
Slow decision making process
– As mentioned earlier in the report, Corning Glass has a very deliberative decision making approach. This approach has resulted in prudent decisions, but it has also resulted in missing opportunities in the industry over the last five years. Corning Glass even though has strong showing on digital transformation primary two stages, it has struggled to capitalize the power of digital transformation in marketing efforts and new venture efforts.
High bargaining power of channel partners
– Because of the regulatory requirements, Michael Y. Yoshino, Christopher A. Bartlett suggests that, Corning Glass is facing high bargaining power of the channel partners. So far it has not able to streamline the operations to reduce the bargaining power of the value chain partners in the industry.
High dependence on star products
– The top 2 products and services of the firm as mentioned in the Corning Glass Works International, Part II: Interviews with Top Management, Video HBR case study still accounts for major business revenue. This dependence on star products in has resulted into insufficient focus on developing new products, even though Corning Glass has relatively successful track record of launching new products.
Opportunities Corning Glass Works International, Part II: Interviews with Top Management, Video | External Strategic Factors
What are Opportunities in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The opportunities highlighted in the Harvard Business Review case study Corning Glass Works International, Part II: Interviews with Top Management, Video are -
Learning at scale
– Online learning technologies has now opened space for Corning Glass to conduct training and development for its employees across the world. This will result in not only reducing the cost of training but also help employees in different part of the world to integrate with the headquarter work culture, ethos, and standards.
Loyalty marketing
– Corning Glass has focused on building a highly responsive customer relationship management platform. This platform is built on in-house data and driven by analytics and artificial intelligence. The customer analytics can help the organization to fine tune its loyalty marketing efforts, increase the wallet share of the organization, reduce wastage on mainstream advertising spending, build better pricing strategies using personalization, etc.
Redefining models of collaboration and team work
– As explained in the weaknesses section, Corning Glass is facing challenges because of the dominance of functional experts in the organization. Corning Glass Works International, Part II: Interviews with Top Management, Video case study suggests that firm can utilize new technology to build more coordinated teams and streamline operations and communications using tools such as CAD, Zoom, etc.
Buying journey improvements
– Corning Glass can improve the customer journey of consumers in the industry by using analytics and artificial intelligence. Corning Glass Works International, Part II: Interviews with Top Management, Video suggest that firm can provide automated chats to help consumers solve their own problems, provide online suggestions to get maximum out of the products and services, and help consumers to build a community where they can interact with each other to develop new features and uses.
Better consumer reach
– The expansion of the 5G network will help Corning Glass to increase its market reach. Corning Glass will be able to reach out to new customers. Secondly 5G will also provide technology framework to build new tools and products that can help more immersive consumer experience and faster consumer journey.
Creating value in data economy
– The success of analytics program of Corning Glass has opened avenues for new revenue streams for the organization in the industry. This can help Corning Glass to build a more holistic ecosystem as suggested in the Corning Glass Works International, Part II: Interviews with Top Management, Video case study. Corning Glass can build new products and services such as - data insight services, data privacy related products, data based consulting services, etc.
Using analytics as competitive advantage
– Corning Glass has spent a significant amount of money and effort to integrate analytics and machine learning into its operations in the sector. This continuous investment in analytics has enabled, as illustrated in the Harvard case study Corning Glass Works International, Part II: Interviews with Top Management, Video - to build a competitive advantage using analytics. The analytics driven competitive advantage can help Corning Glass to build faster Go To Market strategies, better consumer insights, developing relevant product features, and building a highly efficient supply chain.
Use of Bitcoin and other crypto currencies for transactions
– The popularity of Bitcoin and other crypto currencies as asset class and medium of transaction has opened new opportunities for Corning Glass in the consumer business. Now Corning Glass can target international markets with far fewer capital restrictions requirements than the existing system.
Remote work and new talent hiring opportunities
– The widespread usage of remote working technologies during Covid-19 has opened opportunities for Corning Glass to expand its talent hiring zone. According to McKinsey Global Institute, 20% of the high end workforce in fields such as finance, information technology, can continously work from remote local post Covid-19. This presents a really great opportunity for Corning Glass to hire the very best people irrespective of their geographical location.
Building a culture of innovation
– managers at Corning Glass can make experimentation a productive activity and build a culture of innovation using approaches such as – mining transaction data, A/B testing of websites and selling platforms, engaging potential customers over various needs, and building on small ideas in the Organizational Development segment.
Finding new ways to collaborate
– Covid-19 has not only transformed business models of companies in Organizational Development industry, but it has also influenced the consumer preferences. Corning Glass can tie-up with other value chain partners to explore new opportunities regarding meeting customer demands and building a rewarding and engaging relationship.
Reforming the budgeting process
- By establishing new metrics that will be used to evaluate both existing and potential projects Corning Glass can not only reduce the costs of the project but also help it in integrating the projects with other processes within the organization.
Manufacturing automation
– Corning Glass can use the latest technology developments to improve its manufacturing and designing process in Organizational Development segment. It can use CAD and 3D printing to build a quick prototype and pilot testing products. It can leverage automation using machine learning and artificial intelligence to do faster production at lowers costs, and it can leverage the growth in satellite and tracking technologies to improve inventory management, transportation, and shipping.
Threats Corning Glass Works International, Part II: Interviews with Top Management, Video External Strategic Factors
What are Threats in the SWOT Analysis / TOWS Matrix / Weighted SWOT Analysis
The threats mentioned in the HBR case study Corning Glass Works International, Part II: Interviews with Top Management, Video are -
Technology disruption because of hacks, piracy etc
– The colonial pipeline illustrated, how vulnerable modern organization are to international hackers, miscreants, and disruptors. The cyber security interruption, data leaks, etc can seriously jeopardize the future growth of the organization.
Easy access to finance
– Easy access to finance in Organizational Development field will also reduce the barriers to entry in the industry, thus putting downward pressure on the prices because of increasing competition. Corning Glass can utilize it by borrowing at lower rates and invest it into research and development, capital expenditure to fortify its core competitive advantage.
Trade war between China and United States
– The trade war between two of the biggest economies can hugely impact the opportunities for Corning Glass in the Organizational Development industry. The Organizational Development industry is already at various protected from local competition in China, with the rise of trade war the protection levels may go up. This presents a clear threat of current business model in Chinese market.
Increasing wage structure of Corning Glass
– Post Covid-19 there is a sharp increase in the wages especially in the jobs that require interaction with people. The increasing wages can put downward pressure on the margins of Corning Glass.
Stagnating economy with rate increase
– Corning Glass can face lack of demand in the market place because of Fed actions to reduce inflation. This can lead to sluggish growth in the economy, lower demands, lower investments, higher borrowing costs, and consolidation in the field.
Barriers of entry lowering
– As technology is more democratized, the barriers to entry in the industry are lowering. It can presents Corning Glass with greater competitive threats in the near to medium future. Secondly it will also put downward pressure on pricing throughout the sector.
Environmental challenges
– Corning Glass needs to have a robust strategy against the disruptions arising from climate change and energy requirements. EU has identified it as key priority area and spending 30% of its 880 billion Euros European post Covid-19 recovery funds on green technology. Corning Glass can take advantage of this fund but it will also bring new competitors in the Organizational Development industry.
Capital market disruption
– During the Covid-19, Dow Jones has touched record high. The valuations of a number of companies are way beyond their existing business model potential. This can lead to capital market correction which can put a number of suppliers, collaborators, value chain partners in great financial difficulty. It will directly impact the business of Corning Glass.
Technology acceleration in Forth Industrial Revolution
– Corning Glass has witnessed rapid integration of technology during Covid-19 in the Organizational Development industry. As one of the leading players in the industry, Corning Glass needs to keep up with the evolution of technology in the Organizational Development sector. According to Mckinsey study top managers believe that the adoption of technology in operations, communications is 20-25 times faster than what they planned in the beginning of 2019.
High level of anxiety and lack of motivation
– the Great Resignation in United States is the sign of broader dissatisfaction among the workforce in United States. Corning Glass needs to understand the core reasons impacting the Organizational Development industry. This will help it in building a better workplace.
Learning curve for new practices
– As the technology based on artificial intelligence and machine learning platform is getting complex, as highlighted in case study Corning Glass Works International, Part II: Interviews with Top Management, Video, Corning Glass may face longer learning curve for training and development of existing employees. This can open space for more nimble competitors in the field of Organizational Development .
Aging population
– As the populations of most advanced economies are aging, it will lead to high social security costs, higher savings among population, and lower demand for goods and services in the economy. The household savings in US, France, UK, Germany, and Japan are growing faster than predicted because of uncertainty caused by pandemic.
Shortening product life cycle
– it is one of the major threat that Corning Glass is facing in Organizational Development sector. It can lead to higher research and development costs, higher marketing expenses, lower customer loyalty, etc.
Weighted SWOT Analysis of Corning Glass Works International, Part II: Interviews with Top Management, Video Template, Example
Not all factors mentioned under the Strengths, Weakness, Opportunities, and Threats quadrants in the SWOT Analysis are equal. Managers in the HBR case study Corning Glass Works International, Part II: Interviews with Top Management, Video needs to zero down on the relative importance of each factor mentioned in the Strengths, Weakness, Opportunities, and Threats quadrants.
We can provide the relative importance to each factor by assigning relative weights. Weighted SWOT analysis process is a three stage process –
First stage for doing weighted SWOT analysis of the case study Corning Glass Works International, Part II: Interviews with Top Management, Video is to rank the strengths and weaknesses of the organization. This will help you to assess the most important strengths and weaknesses of the firm and which one of the strengths and weaknesses mentioned in the initial lists are marginal and can be left out.
Second stage for conducting weighted SWOT analysis of the Harvard case study Corning Glass Works International, Part II: Interviews with Top Management, Video is to give probabilities to the external strategic factors thus better understanding the opportunities and threats arising out of macro environment changes and developments.
Third stage of constructing weighted SWOT analysis of Corning Glass Works International, Part II: Interviews with Top Management, Video is to provide strategic recommendations includes – joining likelihood of external strategic factors such as opportunities and threats to the internal strategic factors – strengths and weaknesses. You should start with external factors as they will provide the direction of the overall industry. Secondly by joining probabilities with internal strategic factors can help the company not only strategic fit but also the most probably strategic trade-off that Corning Glass needs to make to build a sustainable competitive advantage.
