Close
    HomeResearch & Knowledgeback to HomeStrategyback to Research & KnowledgeSabina: Adapting proactively to changeback to Strategy
    Case Study

    Sabina: Adapting proactively to change

    By Balaji S. Chakravarthy and Pallivathukkal Cherian Abraham
    20 pages
    July 2013
    Order this case study
    Reference: IMD-3-2365

    This case is about Sabina, one of the leaders in the Thai lingerie market, and its proactive adaptation to changes in its business environment over two decades. The firm first took advantage of the depreciation of the Thai baht in the late 1990s to ramp up its export business and become a trusted OEM supplier to major European and US brands. The OEM business accounted for 60% of the firm’s turnover by 2006. Bunchai Punturaumporn was appointed the firm’s managing director in 2007. The Thai baht had started to appreciate, so the firm de-emphasized the OEM business and built a successful Thai branded business. This required innovating in the marketing area, broadening distribution, achieving excellence in production, and adapting the firm’s organization structure over time. In 2012, the OEM business accounted for only 9% of sales. Sabina also coped successfully with other challenges, including rising labor costs in Thailand, and cheap imports from China. Bunchai was preparing the company in 2013 to go regional and take advantage of the opportunities arising from the launch of the ASEAN Economic Community in 2015.

    Learning Objective

    Show how SMEs can successfully adapt to drastic changes in their business environment through proactive shifts in their strategy and organization.

    Keywords
    Change, Transformation, Small and Medium-sized Enterprise, General Management, Strategy
    Settings
    Asia, Thailand
    Sabina Public Company Limited, Consumer Goods, Apparel and Fashion
    1995-2013
    Type
    Field Research
    Copyright
    © 2013
    Available Languages
    English
    Related material
    Teaching note
    Case clearing houses
    IMD case studies are distributed through case clearing houses. In order to browse the collection and purchase copies please visit the links below.

    The Case Centre

    Cranfield University

    Wharley End Beds MK43 0JR, UK
    Tel +44 (0)1234 750903
    Email [email protected]

    Harvard Business School Publishing

    60 Harvard Way, Boston MA 02163, USA
    Tel (800) 545-7685 Tel (617)-783-7600
    Fax (617) 783-7666
    Email [email protected]

    Asia Pacific Case Center

    NUCB Business School

    1-3-1 Nishiki Naka
    Nagoya Aichi, Japan 460-0003
    Tel +81 52 20 38 111
    Email [email protected]

    Copyright Information

    IMD retains all proprietary interests in its case studies and notes. Without prior written permission, IMD cases and notes may not be reproduced, used, translated, included in books or other publications, distributed in any form or by any means, stored in a database or in other retrieval systems. For additional copyright information related to case studies, please contact Case Services.

    Contact

    Research Information & Knowledge Hub for additional information on IMD publications

    Related topics
    Strategy
    Browse all topics
    Discover our latest research
    IMD's faculty and research teams publish articles, case studies, books and reports on a wide range of topics
    All case studies
    Keep reading
    Article
    Here’s what we predicted for 2024… how did we do?

    Did our predictions for 2024 come true, a turbulent election year, bitcoin and CBDC, COP29 and electric cars, China, EU integration and Euro football

    Finance Future Readiness Geopolitics Strategy Sustainability
    By Robert Hooijberg, Arturo Bris, David Bach, José Parra Moyano, Michael R. Wade, Julia Binder, Howard H. Yu, Simon J. Evenett, Alyson Meister, Salvatore Cantale and Stefan Michel
    in I by IMD
    Read more
    Book Chapter
    The strategic imperative

    In a world where change is the only constant, the strategic imperative for sustainability is not just a theoretical construct – it’s a call to action. This section of the book delves into the core strategies that will enable businesses to thrive i...

    Business Transformation Innovation Strategy
    By Julia Katharina Binder and Knut Bjarne Haanaes
    in Binder, Julia Katharina (Ed.); Haanaes, Knut Bjarne (Ed.) / Leading the sustainable business transformation: A playbook from IMD, pp. 59-62 / Hoboken: Wiley, 2025
    Read more
    Book Chapter
    Framing the conversation

    In late 2020, as the world began to emerge from the worst of the COVID-19 pandemic, Wärtsilä, a Finnish corporation specializing in power systems, made a bold decision. Despite being a well-established company with a strong track record in...

    Strategy Leadership Disruption
    By Julia Katharina Binder and Knut Bjarne Haanaes
    in Binder, Julia Katharina (Ed.); Haanaes, Knut Bjarne (Ed.) / Leading the sustainable business transformation: A playbook from IMD, pp. 1-7 / Hoboken: Wiley, 2025
    Read more
    Case Study
    NTT at a crossroads (A): Quest for growth

    NTT Corporation, Japan’s information and communication technologies (ICT) leader since 1953, was the first to commercialize internet usage on mobile phones in the 1990s, which resulted in NTT achieving much success in Japan. However, by the end of...

    Strategy General Management Digital Disruption
    By Patrick Reinmoeller
    Case reference: IMD-7-2351, © 2024
    Read more
    Case Study
    NTT at a crossroads (B): Mapping growth options

    Building on NTT (A), the case starts with NTT’s CEO having narrowed down strategic growth options with the board to prepare NTT for the future. Past international investments in AT&T Wireless and KPN to tap into foreign markets had resulted in bil...

    Strategy General Management Digital Disruption
    By Patrick Reinmoeller
    Case reference: IMD-7-2352, © 2024
    Read more
    Case Study
    Overcoming adversity through innovation – Daikin at 100 (A): Leadership lessons

    This case study examines the remarkable evolution of Daikin Industries, a company that demonstrated resilience and innovation over nearly a century. Founded in 1924 by Akira Yamada in Osaka, Japan, Daikin originally focused on manufacturing aircra...

    Global Business Strategy
    By Kazuo Ichijo and Yunfei Feng
    Case reference: IMD-7-2618, © 2024
    Read more
    Case Study
    Overcoming adversity through innovation – Daikin at 100 (B): Sustainability lessons

    This case study examines the remarkable evolution of Daikin Industries, a company that demonstrated resilience and innovation over nearly a century. Founded in 1924 by Akira Yamada in Osaka, Japan, Daikin originally focused on manufacturing aircra...

    Global Business Strategy
    By Kazuo Ichijo and Yunfei Feng
    Case reference: IMD-7-2619, © 2024
    Read more
    Case Study
    Overcoming adversity through innovation – Daikin at 100 (C): China market lessons

    Daikin’s success in the Chinese air conditioning market serves as a compelling case study in strategic adaptation and collaboration. Following its entry into the market in the 1990s, Daikin faced formidable competition from well-established domest...

    Global Business Strategy
    By Kazuo Ichijo and Yunfei Feng
    Case reference: IMD-7-2620, © 2024
    Read more
    Article
    Busting the myth of flashy innovation

    Learn why flashy innovation often fails and how a strategic, fact-based approach can drive real innovation success in corporate environments. Insights from industry experts.

    Strategy
    By Joep de Caluwé
    in I by IMD
    Read more
    Article
    Busting the myth of flashy innovation

    Learn why flashy innovation often fails and how a strategic, fact-based approach can drive real innovation success in corporate environments. Insights from industry experts. In this final article in a series of three articles, Joep De Caluwé (EMB...

    Strategy Innovation
    By Joep de Caluwé
    in I by IMD
    9 December 2024
    Read more
    Here’s what we predicted for 2024… how did we do?
    By Robert Hooijberg Arturo Bris David Bach José Parra Moyano Michael R. Wade Julia Binder Howard H. Yu Simon J. Evenett Alyson Meister Salvatore Cantale and Stefan Michel
    in I by IMD
    Summary
    Did our predictions for 2024 come true, a turbulent election year, bitcoin and CBDC, COP29 and electric cars, China, EU integration and Euro football
    Read more
    Contact

    Research Information & Knowledge Hub for additional information on IMD publications

    Related topics
    Finance
    Future Readiness
    Geopolitics
    Strategy
    Sustainability
    Browse all topics
    The strategic imperative
    By Julia Katharina Binder and Knut Bjarne Haanaes
    in Binder, Julia Katharina (Ed.); Haanaes, Knut Bjarne (Ed.) / Leading the sustainable business transformation: A playbook from IMD, pp. 59-62 / Hoboken: Wiley, 2025
    Summary
    In a world where change is the only constant, the strategic imperative for sustainability is not just a theoretical construct – it’s a call to action. This section of the book delves into the core strategies that will enable businesses to thrive i...
    Read more
    Contact

    Research Information & Knowledge Hub for additional information on IMD publications

    Related topics
    Business Transformation
    Innovation
    Strategy
    Browse all topics
    Framing the conversation
    By Julia Katharina Binder and Knut Bjarne Haanaes
    in Binder, Julia Katharina (Ed.); Haanaes, Knut Bjarne (Ed.) / Leading the sustainable business transformation: A playbook from IMD, pp. 1-7 / Hoboken: Wiley, 2025
    Summary
    In late 2020, as the world began to emerge from the worst of the COVID-19 pandemic, Wärtsilä, a Finnish corporation specializing in power systems, made a bold decision. Despite being a well-established company with a strong track record in...
    Read more
    Contact

    Research Information & Knowledge Hub for additional information on IMD publications

    Related topics
    Strategy
    Leadership
    Disruption
    Browse all topics
    Related content
    Book
    Leading the sustainable business transformation A playbook from IMD

    Based on extensive research conducted in the past several years at the International Institute for Management Development in Switzerland (IMD), Leading the Sustainable Business Transformation: A Playbook from IMD helps readers understand why susta...

    Business Transformation Sustainability Organizational Design
    Edited by Julia Katharina Binder and Knut Bjarne Haanaes
    Published by Wiley, © 2025
    Read more
    NTT at a crossroads (A): Quest for growth
    By Patrick Reinmoeller
    Case reference: IMD-7-2351 ©2024
    Summary
    NTT Corporation, Japan’s information and communication technologies (ICT) leader since 1953, was the first to commercialize internet usage on mobile phones in the 1990s, which resulted in NTT achieving much success in Japan. However, by the end of the 2000s, Japan faced challenges with an aging population and a stagnant economy. Recognizing disruption in the ICT sector, CEO Satoshi Miura understood the need for the dominant players in the ICT industry to integrate emerging business domains beyond their existing frameworks. To secure leading global positions in ICT and the new paradigm of cloud computing, Miura needed to make strategic choices to revive growth. Case A provides information on NTT, its rivals, the global market and cloud computing disruptions. The case ends with NTT’s CEO exploring strategic growth options to prepare NTT for the future.
    Reference IMD-7-2351
    Copyright ©2024
    Copyright owner IMD Copyright
    Organization Nippon Telegraph and Telephone
    Industry Services, Telecommunications;Information Technology
    Available Languages English
    Contact

    Research Information & Knowledge Hub for additional information on IMD publications

    Related topics
    Strategy
    General Management
    Digital
    Disruption
    Browse all topics
    Related content
    Case Study
    NTT at a crossroads (B): Mapping growth options

    Building on NTT (A), the case starts with NTT’s CEO having narrowed down strategic growth options with the board to prepare NTT for the future. Past international investments in AT&T Wireless and KPN to tap into foreign markets had resulted in bil...

    Strategy General Management Digital Disruption
    By Patrick Reinmoeller
    Case reference: IMD-7-2352, © 2024
    Read more
    NTT at a crossroads (B): Mapping growth options
    By Patrick Reinmoeller
    Case reference: IMD-7-2352 ©2024
    Summary
    Building on NTT (A), the case starts with NTT’s CEO having narrowed down strategic growth options with the board to prepare NTT for the future. Past international investments in AT&T Wireless and KPN to tap into foreign markets had resulted in billion $ write offs and stopped international acquisitions. However, after reviewing the disruptive changes facing the ICT industry and considering the shareholders’ views, CEO Miura committed to internationalization. The B case details NTT’s growth strategy focused on internationalization, while considering the need for new capabilities and technologies. It provides more insights into NTT, its opportunities and the Japanese experience with M&As and ends with Miura’s determination to quickly grow through international expansion to prepare NTT for the future.
    Reference IMD-7-2352
    Copyright ©2024
    Copyright owner IMD Copyright
    Organization Nippon Telegraph and Telephone
    Industry Services, Telecommunications;Information Technology
    Available Languages English
    Contact

    Research Information & Knowledge Hub for additional information on IMD publications

    Related topics
    Strategy
    General Management
    Digital
    Disruption
    Browse all topics
    Related content
    Case Study
    NTT at a crossroads (A): Quest for growth

    NTT Corporation, Japan’s information and communication technologies (ICT) leader since 1953, was the first to commercialize internet usage on mobile phones in the 1990s, which resulted in NTT achieving much success in Japan. However, by the end of...

    Strategy General Management Digital Disruption
    By Patrick Reinmoeller
    Case reference: IMD-7-2351, © 2024
    Read more
    Overcoming adversity through innovation – Daikin at 100 (A): Leadership lessons
    By Kazuo Ichijo and Yunfei Feng
    Case reference: IMD-7-2618 ©2024
    Summary
    This case study examines the remarkable evolution of Daikin Industries, a company that demonstrated resilience and innovation over nearly a century. Founded in 1924 by Akira Yamada in Osaka, Japan, Daikin originally focused on manufacturing aircraft components. However, the company pivoted towards refrigeration technology in response to emerging market demands, notably during Japan’s post-World War II economic boom. By leveraging R&D in fluorocarbons and innovative cooling technologies, Daikin established itself as a leader in the air conditioning sector. The case highlights key leadership eras, notably the transformative periods under Noriyuki Inoue. Under Inoue’s stewardship, the company emphasized execution capabilities, prioritizing operational excellence alongside technological advancement. His leadership drove Daikin’s globalization strategy, enabling the company to become the second-largest fluorocarbon producer globally and the foremost player in the air conditioning market. As Daikin approaches its 100th anniversary, it faces contemporary challenges such as climate change and increasing consumer demands for energy-efficient products. The company’s commitment to innovation remains pivotal as it seeks to balance profitability with environmental responsibility. This case prompts discussion on Daikin’s strategic responses to evolving market conditions and the importance of leadership in sustaining growth.
    Reference IMD-7-2618
    Copyright ©2024
    Copyright owner IMD Copyright
    Organization Daikin Industries
    Industry Consumer Goods, Home Appliances
    Available Languages English
    Contact

    Research Information & Knowledge Hub for additional information on IMD publications

    Related topics
    Global Business
    Strategy
    Browse all topics
    Related content
    Case Study
    Overcoming adversity through innovation – Daikin at 100 (B): Sustainability lessons

    This case study examines the remarkable evolution of Daikin Industries, a company that demonstrated resilience and innovation over nearly a century. Founded in 1924 by Akira Yamada in Osaka, Japan, Daikin originally focused on manufacturing aircra...

    Global Business Strategy
    By Kazuo Ichijo and Yunfei Feng
    Case reference: IMD-7-2619, © 2024
    Read more
    Case Study
    Overcoming adversity through innovation – Daikin at 100 (C): China market lessons

    Daikin’s success in the Chinese air conditioning market serves as a compelling case study in strategic adaptation and collaboration. Following its entry into the market in the 1990s, Daikin faced formidable competition from well-established domest...

    Global Business Strategy
    By Kazuo Ichijo and Yunfei Feng
    Case reference: IMD-7-2620, © 2024
    Read more
    Overcoming adversity through innovation – Daikin at 100 (B): Sustainability lessons
    By Kazuo Ichijo and Yunfei Feng
    Case reference: IMD-7-2619 ©2024
    Summary
    This case study examines the remarkable evolution of Daikin Industries, a company that demonstrated resilience and innovation over nearly a century. Founded in 1924 by Akira Yamada in Osaka, Japan, Daikin originally focused on manufacturing aircraft components. However, the company pivoted towards refrigeration technology in response to emerging market demands, notably during Japan’s post-World War II economic boom. By leveraging R&D in fluorocarbons and innovative cooling technologies, Daikin established itself as a leader in the air conditioning sector. The case highlights key leadership eras, notably the transformative periods under Noriyuki Inoue. Under Inoue’s stewardship, the company emphasized execution capabilities, prioritizing operational excellence alongside technological advancement. His leadership drove Daikin’s globalization strategy, enabling the company to become the second-largest fluorocarbon producer globally and the foremost player in the air conditioning market. As Daikin approaches its 100th anniversary, it faces contemporary challenges such as climate change and increasing consumer demands for energy-efficient products. The company’s commitment to innovation remains pivotal as it seeks to balance profitability with environmental responsibility. This case prompts discussion on Daikin’s strategic responses to evolving market conditions and the importance of leadership in sustaining growth.
    Reference IMD-7-2619
    Copyright ©2024
    Copyright owner IMD Copyright
    Organization Daikin Industries
    Industry Consumer Goods, Home Appliances
    Available Languages English
    Contact

    Research Information & Knowledge Hub for additional information on IMD publications

    Related topics
    Global Business
    Strategy
    Browse all topics
    Related content
    Case Study
    Overcoming adversity through innovation – Daikin at 100 (A): Leadership lessons

    This case study examines the remarkable evolution of Daikin Industries, a company that demonstrated resilience and innovation over nearly a century. Founded in 1924 by Akira Yamada in Osaka, Japan, Daikin originally focused on manufacturing aircra...

    Global Business Strategy
    By Kazuo Ichijo and Yunfei Feng
    Case reference: IMD-7-2618, © 2024
    Read more
    Case Study
    Overcoming adversity through innovation – Daikin at 100 (C): China market lessons

    Daikin’s success in the Chinese air conditioning market serves as a compelling case study in strategic adaptation and collaboration. Following its entry into the market in the 1990s, Daikin faced formidable competition from well-established domest...

    Global Business Strategy
    By Kazuo Ichijo and Yunfei Feng
    Case reference: IMD-7-2620, © 2024
    Read more
    Overcoming adversity through innovation – Daikin at 100 (C): China market lessons
    By Kazuo Ichijo and Yunfei Feng
    Case reference: IMD-7-2620 ©2024
    Summary
    Daikin’s success in the Chinese air conditioning market serves as a compelling case study in strategic adaptation and collaboration. Following its entry into the market in the 1990s, Daikin faced formidable competition from well-established domestic brands like Gree and Midea. Despite the initial challenges of breaking through in a fragmented and competitive landscape, Daikin’s innovative inverter technology became a distinguishing feature of its product offerings. The watershed moment in Daikin’s trajectory occurred in 2008 when it formed a strategic partnership with Gree, China’s largest air conditioner manufacturer. This collaboration enabled Daikin to tap into Gree’s expansive distribution network and manufacturing expertise, significantly enhancing its own market reach. The partnership proved mutually beneficial; Gree capitalized on Daikin’s advanced inverter technology while Daikin secured a foothold in a market driven by increasing consumer demand for energy-efficient solutions. By 2012, inverter air conditioners claimed over 60% of the Chinese market share, a figure that surged to over 90% by 2024, illustrating the success of their joint efforts. Furthermore, Daikin’s commitment to sustainability was manifested in its pioneering use of HFC-32 refrigerant, known for its low global warming potential. By openly licensing HFC-32 patents globally, Daikin not only positioned itself as an environmental leader but also fostered industry-wide innovation. This case highlights the critical importance of strategic partnerships and innovation in overcoming competitive challenges and underscores Daikin’s role as a transformative force in the global air conditioning market.
    Reference IMD-7-2620
    Copyright ©2024
    Copyright owner IMD Copyright
    Organization Daikin Industries
    Industry Consumer Goods, Home Appliances
    Available Languages English
    Contact

    Research Information & Knowledge Hub for additional information on IMD publications

    Related topics
    Global Business
    Strategy
    Browse all topics
    Related content
    Case Study
    Overcoming adversity through innovation – Daikin at 100 (A): Leadership lessons

    This case study examines the remarkable evolution of Daikin Industries, a company that demonstrated resilience and innovation over nearly a century. Founded in 1924 by Akira Yamada in Osaka, Japan, Daikin originally focused on manufacturing aircra...

    Global Business Strategy
    By Kazuo Ichijo and Yunfei Feng
    Case reference: IMD-7-2618, © 2024
    Read more
    Busting the myth of flashy innovation
    By Joep de Caluwé
    in I by IMD
    Summary
    Learn why flashy innovation often fails and how a strategic, fact-based approach can drive real innovation success in corporate environments. Insights from industry experts.
    Read more
    Contact

    Research Information & Knowledge Hub for additional information on IMD publications

    Related topics
    Strategy
    Browse all topics
    Busting the myth of flashy innovation
    By Joep de Caluwé
    in I by IMD 9 December 2024
    Summary
    Learn why flashy innovation often fails and how a strategic, fact-based approach can drive real innovation success in corporate environments. Insights from industry experts. In this final article in a series of three articles, Joep De Caluwé (EMB...
    Read more
    Contact

    Research Information & Knowledge Hub for additional information on IMD publications

    Related topics
    Strategy
    Innovation
    Browse all topics