Corning Incorporated, Growth and Strategy Council

the Telecoms Crash and Corning Incorporated's Growth and Strategy Council

The Telecoms Crash refers to the period of rapid decline in the telecommunications industry during the early 2000s, following the dot-com bubble burst. Many telecommunications companies suffered severe financial losses and were forced to restructure their operations.

Corning Incorporated, a leading manufacturer of glass and ceramics, was one of the companies that was affected by the Telecoms Crash. The company had invested heavily in fiber optics, a key technology for the telecommunications industry, and saw a significant decline in demand for its products as the industry contracted.

In response to the crisis, Corning formed a Growth and Strategy Council to identify new growth opportunities and help the company diversify its product offerings. The council focused on identifying new markets and developing innovative products that could help the company regain its footing. One of the key initiatives that came out of the Growth and Strategy Council was the development of Gorilla Glass, a highly durable and scratch-resistant glass that is used in a wide range of electronic devices, including smartphones, tablets, and laptops. Gorilla Glass has become a major success story for Corning and has helped the company recover from the setbacks it suffered during the Telecoms Crash.

Overall, the Telecoms Crash was a challenging period for many companies in the telecommunications industry, but it also spurred innovation and forced companies to adapt and diversify their operations. Corning's Growth and Strategy Council played a key role in helping the company navigate the crisis and find new opportunities for growth.

References

Henderson, R. M., & Reavis, C. (2009, April 15). Corning Incorporated: The growth and strategy council. MIT Sloan. Retrieved May 27, 2022, from https://mitsloan.mit.edu/teaching-resources-library/corning-incorporated-growth-and-strategy-council 

Litan, R. E. (2016, July 28). The telecommunications crash: What to do now? Brookings. Retrieved May 27, 2022, from https://www.brookings.edu/research/the-telecommunications-crash-what-to-do-now/ 

Lessons from Howard Marks' New book: "Mastering the market cycle – getting the odds on your side". 25iq. (2018, October 6). Retrieved May 28, 2022, from https://25iq.com/2018/10/06/lessons-from-howard-marks-new-book-mastering-the-market-cycle-getting-the-odds-on-your-side/