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

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.