All the business planning tools, encouragement or publicity in the world can't help a company reposition itself and become more profitable unless there's a commitment to act - to take that important first step. Business Insights - Key Learnings from EPICS Projects 2000-2004 shows how some printing industry companies took that step and what they achieved.
Business Insights is a cross section summary of some of the 500 projects undertaken since 2000 under the $48 million four-year Enhanced Printing Industry Competitiveness Scheme (EPICS) negotiated by Printing Industries for the industry with the Australian Government. More than 300 industry companies benefited directly from the scheme.
The report details the inception of EPICS from development of the Print21 Action Agenda (which provided the resources and direction underpinning directional change, initially for the book production sector) to case studies demonstrating individual company responses to the challenge of change.
Lack of Business Planning a weakness
Business planning, a major weakness for many SME companies, became the foundation for many of the projects with more than 150 business plans funded under EPICS.
The Print21 Business Diagnostic Tools were the key for many of these plans which, in turn, were the foundation for specific company strategies.
Business Insights uses two key strategy options in its case studies:
- Flight Option - exist from the industry.
- Fight Option - building on strengths; consolidation and growth; capacity maximisation; cost reduction; innovation and value chain reform; collaboration; and enterprise transformation.
The "flight" option is considered a good option in some circumstances because such decisions, based on sound business planning principles, could be implemented to maximise value from the company.
Download a free copy from our Online bookstore here.
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