Business strategy is a hard thing to master. Not only do you have to know about the business and industry, but you also have to think of thousands of different possible outcomes that may result in the decisions you make. You also need to consider the effect of these decisions on several stakeholders, including the owners of the business, the employees, the customers, the suppliers, and many more. Because of all these different things to think about, there are only a few minds in business that have truly mastered this ability, and one of those people is Gregory James Aziz.
Gregory J. Aziz is currently the CEO and Chairman of National Steel Car, a railroad rolling stock manufacturer located in Hamilton, Ontario. Aziz has spent the greater part of his life picking companies up out of the mud and delivering them to places of great distinction in their respective industries. He has shown his ability time and time again of being able to work with the business environment to create a new strategy that enables the businesses to thrive.
When he purchased National Steel Car in 1994 under the name Imperial Steel Car, Greg Aziz did not know what he was getting himself into. The company had been around for nearly a century, but after going through several dips in the business due to the increase of trucking transportation over rail transportation, National Steel Car was not in a good place. Previous owners wanted to recoup their losses instead of trying to bring NSC back to life, so they stripped the company of capital and sold and resold it several times over. This created a messy internal structure and a company without the means to build railcars to the specifications needed by modern railroads. Aziz changed all of this.
Knowing that the industry now required more high-quality railcars less than low-cost railcars, Aziz put the focus of the company on engineering and design. Aziz knew that if he was able to deliver a few high-quality cars at a modest price to customers, he would be able to win several of them back and gain a new customer base. He also knew that this would open the door to more sales in farther parts of Canada, as well as gain recognition in the United States. This strategy worked, and National Steel Car is back on top in the industry.
Greg Aziz is one of those special people that are able to take something that seems like it is going to die and bring it back to life. His secret weapon is a well-manicured business strategy. Read This Article for additional information.