Case of Successful Evolution of Strategy to Create a Sustainable Business Organization: Managerial Implications and Challenges

Gururaj Kulkarni

Abstract


About couple of decades back, Prince Group was one of the leaders in Plastic Industry. They had occupied No. 2
status in the country. This one particular organization of the Prince Group, was in the business of Manufacturing
an d Marketing of Injection molded Crates, Blow molded jars, drums, bottles etc. Its main business came from
two big multinational organizations who contributed around 75 to 80% of turnover for the previous 6 to 8 years.
However, this demand from these two major customers dropped drastically later. As a result, the turnover of this
Organization dropped below by 50% of earlier level before quietly slipping into loss.

At this juncture, I was invited to join this organization as Strategy Manager. I initiated Strategy Planning process
covering both Manufacturing and Marketing functions as a part of recovery process. This case deals with how
the strategy was evolved and the Organization implemented the same; hitherto unknown initiatives were taken,
what results were achieved both financially and non-financially. Finally, at the end of 3 years this organization
bounced back with bang with a decent turnover and profit. In the process, the business had increased by 300%
and increased business level was sustained in spite of exit of two major customer organizations’ business.


Full Text: PDF DOI: 10.5539/ijbm.v8n5p96

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International Journal of Business and Management   ISSN 1833-3850 (Print)   ISSN 1833-8119 (Online)

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