Subject area: Global Marketing. Sustainable Business. Fast Growth
Country: Sri Lanka
Industry: Coconut industry, retail, wellbeing products
Company: Adamjee Lukmanjee & Sons (Pvt) Ltd
Client: Murtaza Adamjee Lukmanjee, a managing partner
Dilemma: This case involved a family business, Adamjee Lukmanjee & Sons (Pvt) Ltd, which had operated in the challenging coconut industry in Sri Lanka since 1862. The company strived to maintain its position as a leading exporter with an emphasis on quality and reliability through a continuous search for improvement. The company was interested in exploring a new approach for adjusting to a fast-paced market. The client indicated that he was ready to consider business diversification if, in pursuing new avenues for trade and new markets, the company could preserve and develop the highest standards of business principles and ethics set down by its founders.
New Product Development for 150-year Old Company as a BE-EDGE Stepping Stone
Investing in Personal Capital: Elucidated CORE as a PRO
CORE as a PRO: As a graduating student from MS in Leadership (USA) and MS in International Business (Australia) programs and a native of Sri Lanka, Sashika Abeyratne envisioned herself as an expert in adaptation of marketing strategy to fast-paced changes in the international market.
The scope of companies of her interest: B2C businesses with a long history and strong brand who need to adjust to the global market while preserving their identity.
Investing in Social Capital: Developed Connections
In the process of learning about the company and its values and challenges, the student developed rapport with Murtaza Adamjee Lukmanjee, a successor to the family business and a managing partner, who was determined to leave a similar legacy for future generations, uphold the traditions, and continue the name of Adamjee Lukmanjee & Sons Ltd. She researched the product portfolio of the company and its marketing practices in order to understand its relevance. She also collected data on the industry-specific and changing customer preferences for coconut-related products. The story she told as a result, was of company that was proud of its traditions but open for innovation.
Professional Capital: Generated Value
The scope of proposed solutions included the following:
External and internal analysis with a search for opportunities that would match the company’s strengths, as well as the company’s business strategies, to market opportunities.
Recommendations were offered for the functional strategy of the marketing department (which included suggestions for redesigning the product portfolio for local and international markets), and methods for expediting product line to meet the market demand.
Capital Utilization: CORE-CONNECTIONS-VALUE
The student actively referred to the company case as a justification for and contributor to her specialization in the adaptation of marketing strategy to fast-paced changes in the international market.
The case was accepted to the Second Annual Problem-Solving and Consulting Case Writing Competition, Northeastern University and highly ranked by judges and practitioners