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Corticeira Amorim: uncorking the future: converting a cork stoppers business into a knowledge company – An organizational and strategic evolution –
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Corticeira Amorim is, for many years, the worldwide leader in cork manufacturing, setting the pace and pointing the way forward in its sector. However, in the late 1990s, cork stoppers market, since always the company’s main product, was very seriously threatened due to the emergence of a strong substitute – the plastic stopper – ready to dethrone the cork stopper.
The two main reasons for its emergence were a huge increase in the cork price, which tripled between 1994 and 2000, and growing customers’ complaints about TCA, deemed responsible for damaging the taste of wine in bottles using cork stoppers.
This instigated an organizational and strategic change at Corticeira Amorim in the beginning of the 21st century, converting it from a cork stoppers business into a knowledge company, committed to add value to cork no matter the format.
The fact that the company, despite its big size, is a family owned business has played an important role in its evolution and strategic options, throughout its whole history and notably in this critical moment, which denotes a long term concern and deserves analysis.
The strong investment in R&D and Innovation, and the growing recognition of knowledge, in its different forms, as a potential source of competitive advantage, also in usually less high-tech sectors, is another perspective to be discussed.
This context was the basis for the preparation of a pedagogical case study and teaching note. The case was field based, notably with interviews, as primary data source, and also compiled from published sources, as secondary date source. It is intended to be used as the basis for class discussion rather than as an endorsement, source of primary data or illustration of the effective or ineffective handling of a management situation.
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Family owned businesses Strategic management Long term management Leadership Knowledge management Explicit and implicit knowledge R&D and innovation Internationalisation Verticalisation Change Stakeholders theory Corporate social responsibility Business sustainability Cork manufacturing Portugal