Surviving the storm: Synergistic partnership of knowledge management, marketing and innovation strategies in the cosmetic industry

S. Sarpaneswaran, V. G. R. Chandran, Chubashini Suntharalingam and Boon-Kwee Ng

African Journal of Science, Technology, Innovation and Development, 2022, vol. 14, issue 5, 1215-1226

Abstract: This article aims to understand the business evolution and sustained survivability of Malaysian based-cosmetic firm, Pesona, for the past 20 years. The article provides constructive reflection in bridging theory and practice using a single case-study method to investigate the experiences and managerial decision rules of the owner of the cosmetic business within a real-life context. The narrative inquiry that we have adopted allows to focus on events, actions, processes, and happenings that matter for business survivability. The findings indicate various types of challenges within the cosmetic industry, faced resiliently by the owner of Pesona, namely sustaining market shares, highly dependable imported raw-materials, market uncertainty, international trade barriers and technology acquisitions. Likewise, marketing strategies and innovations in eliminating barriers and transforming challenges into opportunities are crucial. Along with these, knowledge management, networking and collaboration create the synergy to improve capabilities. More importantly, for micro and small businesses, these strategic capabilities are specifically led by the owners with passion and motivation. This case study is an inspirational asset for start-ups, SMEs and entrepreneurs as it offers valuable insights that can assist in building and sustaining businesses.

Date: 2022
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DOI: 10.1080/20421338.2021.1943606

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