Develop a Strategic Business Plan for Diversification
Our client PMG is a plastics injection moulder, founded in the 1990’s and deriving the majority of sales revenue from custom moulding for other businesses. In early 2010 PMG’s biggest customer decided to shift their purchasing of point-of-sale (POS) display materials from PMG to offshore sources, causing PMG to suffer a downturn in sales of $2 million pa.
Our role in this strategic business plan assignment was:
- To assist PMG to recover from this sudden downturn and get back onto a sustained growth
- Facilitating the investigation and evaluation of market opportunities and the selection of new target markets
- Developing a new Strategic Business Plan that focuses on competitive strategies to drive diversification and sales growth.
- Using the principles of The Balanced Scorecard to develop Actions Plans with which the team will implement the Competitive Strategy.
- The team identified six opportunity areas as the focus of the firm’s marketing and business development activities.
- The team created a Strategic Business Plan, which defines the Vision, Values and Purpose of the firm; its long-term Corporate Objectives and the Strategies by which these might be achieved.
- The management team decided to re-brand the business as PMG Plastic Engineering and re-develop the website.
- The team defined a set of specific Actions based around the Balanced Scorecard perspectives – customers, business processes, learning and growth, and financial.
- The management team now have clear focus about their objectives and priorities.
PMG Engineering Services Pty Ltd engaged Roaring Success in to help develop a strategic Business Plan. The Roaring Success team were able to decipher the whole mess and deliver a clear and concise action plan. The tools they provided to access opportunities are now invaluable to PMG and will be for years to come. PMG will continue to engage Roaring Success particularly for marketing strategies for proprietary products.
Gerard Suttie, Managing Director, PMG Plastic Engineering, www.pmgeng.com.au