Alexander Minaev is a Business Booster graduate
Country: Latvia
Company: Kronus
Direction: Production of wooden packaging
Please tell us a little faster and more about your company. What do you do and where are you located?
Our company is engaged in the bc data china production of wooden packaging. We are already 28 years old. The main production is in Riga, and we also have a representative office in China. Our revenue is about 100 million euros per year.
You mentioned that the company faced a crisis in 2019. Can you tell us more about that?
Yes, in 2019 our industry went through a crisis, which affected our company as well. As a founder, I found myself in a difficult financial situation and decided to dive deeper into management to understand what opportunities there were for improvement and recovery. Although I thought the company was well organized, I discovered many inefficiencies.
What did you do to cope with this situation?
We began working actively with como integrar o marketing digital e o marketing tradicional our CEO on the problems we had identified. He went to study in Moscow, and we had already participated in Vysotsky’s program, and had gone through a company transformation that took a faster and more year and a half. These changes coincided with our internal reforms. We began by studying books such as “ The Responsibilities of a Company Owner ” by Alexander Vysotsky, and then implemented other elements, including mission, planning, and financial management.
We started using new tools and methods in training employees. These changes significantly affected the efficiency of work. People began to work faster and more accurately, there was new energy and involvement in the company. We also revised the organizational structure so that it corresponded to the ideal picture we are striving for. This led to the emergence of many initiatives that we are now actively implementing.
Have you encountered any resistance from employees when implementing these changes?
Of course, there was resistance, but asia phone number it was not overt. People get used to changes, although sometimes they complain about the lack of time. It’s a vicious circle: you don’t have time because you haven’t mastered the new methods of work yet. But when people see successful examples nearby, the resistance decreases.
What are your plans for the future? What stage of transformation are you at now?
We are currently in the process of integrating Vysotsky’s scheme and continue to work on it. We have four business areas in the company, and this creates additional challenges, especially in terms of implementing changes. We are considering faster and more options for creating a matrix structure or a management company to effectively manage all areas. This is a serious challenge, but we are confident that we can cope with it.
