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VMR2030 Strategy
Background
VMR Group, a family-owned rice manufacturing and sales company since 1965, operates in both domestic and international markets. Despite its organic growth and traditional management approach, the business currently faces numerous challenges, including increasing liabilities. The primary issues stem from a lack of professionalism, well-defined processes, systems, policies, skilled human resources, and a dedicated core management team. The VMR2030 Strategy is designed to address these challenges, stabilize the business, and position it for sustainable growth over the next decade.
Strategy Overview
Mission 1: Identify and Address Gaps
Milestones:
- Conduct a comprehensive audit of the current business operations to identify gaps in processes, systems, policies, and human resources
- Rank identified issues based on their impact on business operations and liabilities
- Allocate necessary resources, including financial and human capital, to address the prioritized issues
- Develop and implement solutions to address the most critical gaps, starting with ERP implementation, process automation, system upgrades, and policy development
Mission 2: Build Human Capital
Milestones:
- Develop a recruitment plan to attract skilled professionals in key areas such as finance, operations, marketing, and export management
- Implement training programs to enhance the skills of the current workforce, focusing on areas like process management, international trade, and quality control
- Identify and nurture potential leaders within the organization, providing them with mentorship and advanced training
- Establish employee engagement and retention programs, including performance-based incentives and career development opportunities
Mission 3: Achieve Inorganic Growth
Milestones:
- Conduct research to identify potential acquisition or partnership opportunities that align with VMR Group’s business objectives
- Execute strategic acquisitions or partnerships to expand the company’s market reach and product offerings
- Seamlessly integrate acquired businesses into VMR Group’s operations, ensuring alignment with the company’s culture and goals
- Achieve revenue growth through the successful integration and optimization of acquired entities, contributing to overall business expansion
Mission 4: Expand Export Business
Milestones:
- Conduct a detailed analysis of international markets to identify high-potential regions and customer segments
- Develop a robust export strategy, including product customization, pricing, and distribution channels tailored to target markets
- Strengthen the export division by adding experienced professionals, improving supply chain logistics, and enhancing product quality to meet international standards
- Focus on penetrating identified international markets, establishing brand presence, and securing long-term contracts with key distributors and customers
- Set and achieve specific revenue targets from international markets, contributing significantly to VMR Group’s overall growth
Conclusion
The VMR2030 Strategy is a comprehensive plan to transform VMR Group into a modern, efficient, and globally competitive business. By systematically identifying and addressing operational gaps, building a skilled workforce, pursuing inorganic growth opportunities, and expanding the export business, VMR Group aims to overcome its current challenges and achieve sustainable growth by 2030. Each mission is designed with specific milestones to ensure progress is measurable, and the company stays on track to meet its strategic objectives.