The year of the Ox
Imagine this: it is 2009 and the lowest point of an economy that our modern times have ever experienced. You are responsible for a company and its employees and you have to be profitable. What do you do? How will you motivate more than 700 people to find a way to be profitable?
2009 proved to be one of the most difficult economic times in our modern history. Few of us have lived in such a difficult climate.
2009 was also the Year of the Ox. The ox is a perfect symbol to represent the tough economic times we endured. Why is the ox a good symbol for tough times? Because Ox are known for working in difficult environments and they do not complain about it. Oxen ...view middle of the document...
We planned that when the economic chill did improve and warm back up, our company and all of our employees were prepared for the increase in business.
We knew that Asia will continue to be where the majority of our products are consumed because the majority of our customers are located in Asia. China continues to be the fastest growing economy in the world and we knew that China would continue to grow and provide opportunities for increasing business for all products that our company manufactures. The majority of our customers are in China and we intend to stay in China to support our valued customers.
What will did Management do to help us get over this economic hardship?
Management committed to continue to provide money and resources for educating and training our employees. Training had helped all our employees to be successful in their current and future roles within our company.
Six Sigma was an example of this type of training. Six Sigma helped our technical employees continue to learn how to eliminate wastes and improve our yields. This was an expensive investment but an investment it was! As with all investments, we expected a return of higher value and we achieved that with higher yields than we previously had.
Management continued to invest money into the Journey Towards Excellence (JTE) with all our employees. JTE allowed each employee to learn to find ways to make improvements to our processes and eliminate waste. Those who learned to find effective ways to reduce waste were encouraged to help other departments do the same.
Management continued to support programs that continue to improve our relationships with our customers and create valuable solutions for them. Our customers require innovative and less costly materials and we were there to provide solutions that add value to their business.
Some of our competitors did not have the cash to continue their business and support their customers. We took the opportunity to support their customers when they could no longer support them.
Management continued to search for businesses to acquire and integrate into our company. We worked to expand our products by acquiring companies that fit well with our products and add value to our customers. We successfully acquired one company in 2009 and continue and hopefully make more acquisitions in the...