Trigger 2

Our second trigger was so much harder than the first one. 
After brainstorming we came up with two learning objectives: "Updating business strategy due to the chancing market" and "How to apply the business core competence to new markets / products?".

In the trigger we had Fujifilm as an example so i started to think some other companies that had done something like that. Fujifilm was losing their core business and was able to recover from that and thinked something new and innovative. First i was thinking about Nokia. In the beginning Nokia was in rubber industry but then at the 1960 they opened an electronics department and everyone knows how successfull they were in mobile phone industry. 
I thought that someone else has already had Nokia as an example so i continued thinking and i ended up picking Paulig as my example. It was a little bit easier to think the second question (also used Paulig in first question) through some company.

Updating business strategy due to the chancing market?

Here is some thoughts that i was able to find from different sources.

A good business plan is never done. Every business plan is wrong.

You have to update your business plan and strategy all the time because nobody knows what is going to happen in the future.

95 % of employees do not understand their company’s strategy. How are they supposed to execute a plan if they don’t understand it?

Create a clear strategy plan and make sure that everyone in the company knows what it means. Be innovative and try something new.

Mission, vision and strategy?

You can’t achieve your vision without a good strategic plan.

Paulig’s mission: “Exploring great taste.”
Paulig’s vision: “The Nordic challenger loved and valued for reshaping the world of pure taste experiences.”

How to apply the business core competence to new markets / products?

-          Paulig is a finnish family business of coffee and cocoa, founded in 1876.

-          They have 3 different industry:

1.    “World’s food and spices” (Santa Maria, Risenta)

2.    Coffee (most known about this)

3.    Snack food and naturally healthy food

Because of the climate change, growing coffee will be extremely difficult and expensive. Temperatures are rising, ground is changing so the suitable conditions for coffee cultivation are moving higher to the mountains. That means that the farming area is going to be smaller.

Paulig has noticed this and started to invest more money to healthy food.
A year ago they bought 51 % majority of the Gold & Green Foods company which created the pulled oat food.  Now they are opening a new factory to Sweden and trying to spread the business in to the Europe. Vegetable food will be a big thing in the future.

So they have already found something new and innovative and now they are part of that.

References:

Article: A coffee expert says the entire industry is in a very tricky spot.
http://www.businessinsider.com/sam-lewontin-future-coffee-global-warming-climate-change-2016-6?r=US&IR=T&IR=T (accessed 11.9.2017)

 Article: Paulig Group buys majority of pulled oats startup firm
https://yle.fi/uutiset/osasto/news/paulig_group_buys_majority_of_pulled_oats_startup_firm/9138362 (accessed 12.9.2017)

https://goldandgreenfoods.com/about/ (accessed 11.9.2017)

Article: Updating your business plan.
https://www.entrepreneur.com/article/159552 (12.9.2017)

 Article: 5 Key factors to successful strategic planning.
https://bia.ca/5-key-factors-to-successful-strategic-planning-2/ (12.9.2017)

http://www.pauliggroup.com/about-us/mission-vision-and-our-values/ (12.9.2017)

http://www.nokia.com/fi_fi/tietoa-meista/keita-olemme (11.9.2017)