A company Lakme limited manufacturing cosmetics, which has enjoyed a preeminent position in business, has grown in size. Its business was very good till 1991.But after that, new liberalized environment has seen entry of many MNC's in the sector. With the result the market share of Lakme limited has declined. The company had followed a much centralized business model with directors and divisional heads making even for minor decisions. Before 1991, this business model had served the company very well as consumers has no choice. But now the company is under pressure to reform.
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What are the changes would you suggest to the company and how will the changes suggested by you help the firm?
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