What do you do if a new scientific breakthrough threatens your industry?
This was the dilemma facing the makers of packaged foods. Survey data predicted that Ozempic, now popular for weight loss, suppressed appetites and threatened their sales.
However, in a "judo" move, multinationals like Conagra, Campbell Soup, and Danone figured out a way to flip Ozempic from existential threat to a strategic advantage.
It turns out that people on the drug are advised to boost their protein intake. Also, some suffer digestive side effects.
The food manufacturers are now planning to this niche of users with products that are protein-rich, and easily digestible.
Lesson for business leaders: how can you turn threats and weaknesses into opportunities?
Lesson for business leaders: how can you turn threats and weaknesses into opportunities?
© 2024 Praveen Puri
