New possibilities discovered….new businesses born - The role of strategy in completely redefining businesses who are fit for the future.
Product/Services: Electronics – Components & PCBs
Sector: Consumer electronics
Turnover: $3.5m
Headcount: 300
Situation:
Vision and mission statements on display and in the quality manual but confused understanding of what these really meant and little or no evidence of these driving company actions, decision or performance either short or long-term. As a tier-one contract manufacturer to the consumer electronics market margins are tight, reliance on 2 or 3 major customers is high and there is little autonomy to grow the business.
O&P Approach and Outcome:
New opportunities and possibilities were explored and a new strategy was developed to continue to serve Consumer Electronics OEMs but in parallel develop a new business unit designing, developing, manufacturing and selling fruit processing equipment. The new business has successfully been established with an R&D team and first products launched to the market.
Customer score: 4.5/5 ⭐️