What new strategies has the new management applied to successfully turn the company upside down in such a short period of time?
I would rather speak about regular management methods, as the Western world understands it. Everything is described in classical literature on management but it had not been applied before, unfortunately. I mean segmentation, positioning, SWOT analysis, the 4Ps, BSC. In terms of strategy we are typical guerillas. As there was no strong position by the time we came, we decided to concentrate on the two key competencies. We narrowed the front line and threw away all products that we considered superfluous (for example, power units); we entered foreign markets and increased our profit from the 2 main products considerably. We decreased our personnel by 20% and the remaining employees got the maximum possible salary on the Russian market. What are your development plans for the next 5 years? We are currently restructuring the production – this is our focus. We are constructing a modern plant and eliminating outdated capacities and spaces. We should comply with modern requirements not only
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