Changes in the marketplace, if not monitored, can cause serious losses in profit, market share, and in stakeholders’ confidence. Such was the case with one of the most celebrated American companies, Hershey’s. When the company failed to keep its ear to the ground and eye on the ball it lost touch with consumers and retailers. A shift in the company’s focus and a re-alignment of its divisions rescued the company and restored its luster, market share and profit. As this author describes, its example is an important one for managers.
Author: Rick Kash
Source: Ivey Business Journal
Subjects: Management, Marketing / Sales, Operations, Strategy
Industry: Food Products/Service