For a business to survive for ages, the management needs to be concerned with the developments that are taking place outside of the business precincts. Many times, businesses fail because the owners ignore the important things that happen outside of their business environments. Economic depressions can affect a business and make it fail. For a business that wants to last for many years. It needs to do more than just the ordinary things.
A business needs to have a strong foundation that will make it survive through the bad times especially on matters related to finances. In this article, we will look at a Canadian company that has managed to keep itself updated with the business environment changes, and as a result, it has lived for over one hundred years. The business is an engineering and manufacturing company known as the National steel car. View Additional Info Here.
National steel car is a manifestation of a business that is resilient to market pressure and has grown into a global leader in an industry that has a lot of developments especially those related to technology. The manufacturing sector has been one sector that is influenced by innovations in technology. While companies that have not managed to adapt to the technologies have closed down, National steel car has managed to survive for this long despite going through the hands of various managements. For our case, we will look at the present management which has been the reason it is still thriving. View Source: https://www.steelcar.com/
In 1994, National steel car was purchased by a Canadian businessperson known as Gregory James Aziz. Aziz is an experienced businessman who now serves as the chairman and the CEO of the company. Since he took over the management, National steel car changes for the better. He had taken over from a management team that almost brought the operations of the company to a halt. In the status that it was while he was buying it, he needed to do something major. A move that would make it revive its business operations. He changed the manner in which the business was managed. He brought in new technology which ultimately led to growth that was not expected in the company.
National steel car was struggling to manufacture 3500 cars in a year, but now it is comfortably producing an average of 12000 cars. The company has had a positive impact on the people of Hamilton where it is located through job creations. The company has employed over 2000 workers. ISO have recognized the growth of the company awarding it the ISO 9001:2008 certification and received TTX SECO award for quality, for over a decade.