Thriving in adversity, finding path to growth by leveraging core competencies
CAN a company grow and thrive, despite a decade-long slump in its industry? It would certainly seem counterintuitive. Just as we assume that in good times a rising tide will lift all boats, most managers would think it challenging at best for a business to do well in an industry in the midst of long running decline.
It's unlikely, yes, but it is possible - as I found from a recent meeting with Singapore-based marine supplies SME Amos International. Amos has seen its revenues grow manifold between 2008 and 2016, the same timeframe that the shipping industry, its key customer, suffered a prolonged downturn. It's a challenge that has seen many of Amos's rivals shut down or scale back radically.
So what formula underlies this story of growth in the face of the odds…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
‘Competition for talent’ a poor excuse to keep key executives’ pay under wraps
OCBC should put its properties into a Reit and distribute the trust’s units to shareholders
Why a stronger US dollar is dangerous
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access