OSI Industries, former Otto and Sons Company, weathered the great depression of 1929 and outlived the two world wars. However, the periods leading to 1970 saw the company face a myriad of management and operational challenges that threatened its sustainability. In a bid to salvage the situation, Otto’s sons invited a financial expert and a player within the investment banking industry, Sheldon Lavin, to help identify lasting solutions to these problems.
His contribution towards keeping the company afloat as well as personal capital injections to fund company operations saw him partner with Otto’s sons in managing the meat processing company before eventually taking over as chairman and CEO. But how has his input changed the century-old meat processor?
Realized the company’s expansionary dream
OSI Industries has always been on an expansionary path that saw it evolve from a butcher shop to a meat company. The transition was, however, slow as it was heavily weighed down by the numerous capital and managerial challenges facing it at the time. Sheldon stepped in and used his investment industry network to facilitate funding that allowed the company to fast track most of its expansionary goals.
After assuming office as chairman and CEO, Sheldon Lavin recommended a change of tact from building new facilities to acquiring established ones across the world. The move saw the company realize its global expansionary dream in less than four decades.
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Set it up towards a more successful path
Poor resource management, constant use of redundant technology, and too much emphasis on the local market limited the company’s success. Sheldon disrupted this by pioneering the adoption of advanced factory technologies and marketing OSI Industries products to global markets thus opening it up to more paths to success.
Eliminated common and persistent problems
Some of the problems facing OSI Industries before Sheldon’s take over included inability to meet market demands and financial challenges. The finance expert would, however, exploit his connections and experience to come up with lasting solutions to these challenges.
For instance, the introduction of modern processing technology reduced operating costs and boosted production capacity. Personal capital injections and expanded markets would, on the other hand, address the persistent lack of capital challenge.
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