Blog posts tagged with Certification

Make sure you Qualify before you Diversify

March 21, 2011 by MAGNET Ohio

As your company prepares to diversify into an adjacent market of its current business—or, as it prepares to adapt existing products or services to enter a brand new market—be sure to take a long, hard look at your company’s organizational strengths and weaknesses. Here are several important questions to ask before you take that leap: How do you go to market right now? What are the expectations of your new market as to how you reach them? What is your current manufacturing capacity? If you hit a home run in your new market will you be able to keep up with the additional volume? Do you have a robust and effective Quality Management System in place now? The answers to these questions, especially the last one,  may well be critical to your success in a new market. Look carefully before you leap Recently, an Ohio manufacturer saw an opportunity to diversify its customer base by expanding from its traditional industrial users to specialty users.  The company’s managers carefully researched the new target market. After identifying the key players,  they  decided to  hire salesmen from their target competitors to help them succeed in the new market. Despite this advance preparation, when they

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