abhishreshthaa
Abhijeet S
Pest Analysis On Corning Incorporated : Corning Incorporated (NYSE: GLW) is an American manufacturer of glass, ceramics and related materials, primarily for industrial and scientific applications. The company was known as Corning Glass Works until 1989, when it changed its name to Corning Incorporated. While probably best known for its line of Corelle tableware and Pyrex cookware (businesses which it sold, but still holds an ~8% interest) Corning has transformed itself over the years into a high technology company, allocating a significant amount of resources towards research and development. As of 2008, Corning has five major business sectors: Display Technologies, Environmental Technologies, Life Sciences, Telecommunications and Specialty Materials. Corning is also involved in several joint equity ventures. These include Dow Corning, as well as two companies, Quest Diagnostics and Covance, that were spun off from Corning.
Originally founded in the Williamsburg section of Brooklyn, New York, the company later moved its operations to (and took the name of) the city of Corning, New York. Corning maintains their world headquarters within New York City itself. The firm has also established and continue to expand their nearby research and development facility, as well as operations associated with catalytic converters and diesel filters. Corning has a long history of community development and has assured community leaders of their intent to remain headquartered in the city.[1]
1917 advertisement for the Corning Conaphore headlamp lens shown above.
The company had a history of science-based innovations following World War II and the strategy by management was research and "disruptive" and "on demand" product innovation.[2]
In 1968, Corning developed a new automobile windshield with properties designed to make it thinner and lighter, as well as reduce the danger of injury by turning into small granules when smashed.[3] This toughened glass featured a chemically hardened outer layer and its manufacture incorporated an ion exchange and a "fusion process" in special furnaces that Corning built in its Blacksburg, Virginia facility.[2][4] Corning developed it as an alternative to laminated windshields and to become a supplier in an automobile industry segment.[2] The new windshields debuted on the 1970 model year Javelins and AMXs built by American Motors Corporation (AMC).[4] Because of the absence of government safety standards for motor vehicle windshields, the larger automakers had no incentive to change from the cheaper and less-safe glass.[2][4] Corning terminated its windshield project in 1971, after it turned out to be one of the company's "biggest and most expensive failures."[4]
ReignCom in terms of its success points from within the MP3P business has proven its worth to be one of the most reliable manufacturer and source of good quality digital technology products and services that are beneficial to the customers from within its political, economic, social and technological factors that help ReignCom achieve a stable stand in the global market pursuing high end values for their value chain processes that keeps them focus and in place for the business along with its rivals and competitors. Moreover, as the company provides better products and services there can be a little pressure on the part of its IT management as ReignCom can be too goal oriented and centered its attention on how to tie up fast with the changing realities of technology advancement and innovation but, ReignCom remained tough and valuable enhancing good customer and staff relations that gives the MP3P industry its best shot of the situation wherein technology ways and delivery is powerful and that ReignCom is effective in collaborating its strengths and opportunities to overcome the presence of possible weaknesses and threats that may come along while giving respect to such important factors that has affect its business context in both positive and negative ways and that ReignCom learned to eliminate or at least control at the same time avoid all the negative connotations that may possibly ill its mission to fulfill its vision and by implying useful business and corporate values to gain a strong sense of responsibility and trust not just to support its value chain models but to maintain a justifiable pace in the MP3P industry assimilating global functions from the market respectively
PEST ANALYSIS
Every business is subject to factors that affect the firm’s function as a whole. These factors are the ones attributed for the success or even the failure of a business (1997). In the light of this, there are certain ways or techniques that can be considered in order to emerge and continue to be competitive within the market place. The marketing concept has been defined as ‘the key to achieving organizational goals’ and the marketing concept rests on ‘market focus, customer orientation, coordinated marketing and profitability’. In a profit making business the firm obviously has to try and achieve this level of customer satisfaction as a way of staying ahead of the competition and making a profit ( 1994). Today, more and more people and organization are striving to be recognized in the business arena. With this objective, these organizations had been able to competently and effectively adapt to the situation in the market place by using generic strategies that enhanced their competitiveness. There are five different generic strategies that a business can choose. These include cost leadership, differentiation, focused cost leadership and integrated cost leadership/differentiation. Each generic strategy helps the company to establish and exploit a competitive advantage within a particular competitive scope (2003)
Thus, there needs to examine the five forces model being used by ReignCom for its business and will provide an analysis of the company using some marketing tools like PEST and Porter’s Five Forces Model to determine the situation of the company in the internal and external marketing environment.
Originally founded in the Williamsburg section of Brooklyn, New York, the company later moved its operations to (and took the name of) the city of Corning, New York. Corning maintains their world headquarters within New York City itself. The firm has also established and continue to expand their nearby research and development facility, as well as operations associated with catalytic converters and diesel filters. Corning has a long history of community development and has assured community leaders of their intent to remain headquartered in the city.[1]
1917 advertisement for the Corning Conaphore headlamp lens shown above.
The company had a history of science-based innovations following World War II and the strategy by management was research and "disruptive" and "on demand" product innovation.[2]
In 1968, Corning developed a new automobile windshield with properties designed to make it thinner and lighter, as well as reduce the danger of injury by turning into small granules when smashed.[3] This toughened glass featured a chemically hardened outer layer and its manufacture incorporated an ion exchange and a "fusion process" in special furnaces that Corning built in its Blacksburg, Virginia facility.[2][4] Corning developed it as an alternative to laminated windshields and to become a supplier in an automobile industry segment.[2] The new windshields debuted on the 1970 model year Javelins and AMXs built by American Motors Corporation (AMC).[4] Because of the absence of government safety standards for motor vehicle windshields, the larger automakers had no incentive to change from the cheaper and less-safe glass.[2][4] Corning terminated its windshield project in 1971, after it turned out to be one of the company's "biggest and most expensive failures."[4]
ReignCom in terms of its success points from within the MP3P business has proven its worth to be one of the most reliable manufacturer and source of good quality digital technology products and services that are beneficial to the customers from within its political, economic, social and technological factors that help ReignCom achieve a stable stand in the global market pursuing high end values for their value chain processes that keeps them focus and in place for the business along with its rivals and competitors. Moreover, as the company provides better products and services there can be a little pressure on the part of its IT management as ReignCom can be too goal oriented and centered its attention on how to tie up fast with the changing realities of technology advancement and innovation but, ReignCom remained tough and valuable enhancing good customer and staff relations that gives the MP3P industry its best shot of the situation wherein technology ways and delivery is powerful and that ReignCom is effective in collaborating its strengths and opportunities to overcome the presence of possible weaknesses and threats that may come along while giving respect to such important factors that has affect its business context in both positive and negative ways and that ReignCom learned to eliminate or at least control at the same time avoid all the negative connotations that may possibly ill its mission to fulfill its vision and by implying useful business and corporate values to gain a strong sense of responsibility and trust not just to support its value chain models but to maintain a justifiable pace in the MP3P industry assimilating global functions from the market respectively
PEST ANALYSIS
Every business is subject to factors that affect the firm’s function as a whole. These factors are the ones attributed for the success or even the failure of a business (1997). In the light of this, there are certain ways or techniques that can be considered in order to emerge and continue to be competitive within the market place. The marketing concept has been defined as ‘the key to achieving organizational goals’ and the marketing concept rests on ‘market focus, customer orientation, coordinated marketing and profitability’. In a profit making business the firm obviously has to try and achieve this level of customer satisfaction as a way of staying ahead of the competition and making a profit ( 1994). Today, more and more people and organization are striving to be recognized in the business arena. With this objective, these organizations had been able to competently and effectively adapt to the situation in the market place by using generic strategies that enhanced their competitiveness. There are five different generic strategies that a business can choose. These include cost leadership, differentiation, focused cost leadership and integrated cost leadership/differentiation. Each generic strategy helps the company to establish and exploit a competitive advantage within a particular competitive scope (2003)
Thus, there needs to examine the five forces model being used by ReignCom for its business and will provide an analysis of the company using some marketing tools like PEST and Porter’s Five Forces Model to determine the situation of the company in the internal and external marketing environment.
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