Question
A manufacturing company can apply the approach of bidding only on projects they have a good chance of winning by first conducting a thorough analysis of their capabilities and resources. They should understand their strengths and weaknesses, and the market demand. They should bid on projects that align with their core competencies and where they can leverage their unique capabilities. This approach can lead to a higher success rate in winning bids, improved efficiency, and better resource allocation. It's also important to note that this strategy requires a disciplined approach and a willingness to pass on opportunities that don't align with the company's strengths.
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In the three years Anders led the company, it generated a remarkable $5 billion in cash. This was from two sources: a sharp tightening of operations and selling off non-core businesses. Anders insisted that the company bid only on projects they had a good chance of winning, and the returns were compelling. The number of bids fell drastically, while the success rate shot up. The overall headcount was cut by 60%. As a result of this, $2.5 billion was freed up.
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