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alchemy act An of 36 www. bus- ex. com January 10

Even with a commodity as rock solid as gold, change has to be managed, as Alan Swaby learns alchemy to make sure that the thriving business will adapt itself to vastly changed circumstances and continue to be a market leader into the future. " Rand Refinery," he explains, " is inextricably linked to the South African gold mining industry, which is today producing much less than in the past. Nor does it make logistical sense for other countries outside of Africa to send their gold here for refining. The major gold producers such as China and Australia have their own refining facilities. My task is to create a sustainable strategic future for the business, to compensate for the continuing reduction in South African gold output." Rand Refinery O ne of the modules to be found in business courses covers the topic of marketing myopia- or how businesses take their eye off the ball and allow a once thriving concern to wither away. The case often quoted is the demise of the rail transport industry in the second half of the 20th century. Imagine having been the undisputed market leader for three quarters of a century, accounting for 30 per cent of the total output of your industry worldwide but now finding your output slashed. These are the conditions facing the new managing director of Rand Refinery. Howard Craig has been hired January 10 www. bus- ex. com 37