Formulation of Strategy to Create a Sustainable Business Organization | Chapter 10 | Current Perspective to Economics and Management Vol. 4
About couple of decades back, Prince Group was one of the leaders in
Plastic Industry by being No. 2 in India. This particular independent
organization belonging to Prince Group was in the business of Manufacturing and
Marketing of Injection Moulded Crates, Blow Moulded jars, drums, bottles etc.
Due to high volume of sale generated, business was excellent. This unit’s main
business came from two big multinational organizations who contributed around
75 to 80% of turnover for the previous 5 to 6 years. As the time elapsed, the
demand from multinationals dropped drastically to almost tending to zero (due
to change of market). As a result, the turnover of these Organizations sharply
dropped and slipped into loss.
I was known to this organisation being an Auditor who was in-charge of
providing Audit services. At this juncture, I was invited to join this
organization as Strategy Manager to create a turnaround. I formulated Strategy
to cover both Manufacturing and Marketing functions in order to recover. This
case deals with how the strategy was evolved and how it was implemented;
hitherto few unknown initiatives were taken, what results were achieved both
financially and non-financially etc. Finally, at the end of 3 years this
organization bounced back with bang with a trebling turnover and earning decent
profit. Thus, sustainable business organisation was created.
This article explains in detail as what Strategy was formulated and what
was the result.
Author(s) Details
Gururaj Kulkarni
Crompton Greaves Ltd,
Mumbai, India and Quality Management System Certification Bodies, European
Origin – DNV, TUV Rheinland and BSI, India and Prince Containers Pvt. Ltd. and
Prince Multiplast Pvt. Ltd. Mumbai, India and JASANZ (Joint Accreditation Scheme
for Australia and New Zealand), Canberra, Australia, Quality Council of India
at National Accreditation Board for Certification Bodies, New Delhi, based in Mumbai, India.
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