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?