Business View Caribbean | Jan 2019

56 though it’s a popular concept in the U.S. and Canada, today, the model had not yet been implemented in those countries, back then. He notes, “Now we have Walmart and Sam’s Club engaged in it, but at the time we introduced it in the 1980s, the model wasn’t done elsewhere.We were kind of original when it came to that merger of businesses.” Glace’s major competitor is a regional conglomerate that Bousquet says, “earns approximately $8 billion EC (Eastern Caribbean) per year; that’s huge when compared to our average $18-$20 million EC range.” (1 US dollar converts to approx. 2.7 EC dollars). Glace has a few ways to counter the competition. First and foremost, their signature bread must be a differentiating factor. One may argue that the partnership, where the bread was marketed throughout the island, was probably not in Glace’s best interests. But the general philosophy within the company, now, is that their bread is the means to battle the competition. “The business environment and competitive landscape have changed significantly,” Bousquet explains. ‘This requires new ways of thinking. Glace consists of several types of businesses which call for different approaches to recovery and growth. Some parts may call for innovation and agility while others for a greater focus on operational efficiency and stability. Therefore, the second means of combating the competition involves Glace engaging in greater introspection - a more ardent examination of the various profit centers within the company. These profit centers would then be run as quasi stand-alone businesses which would allow Glace to survive GLACE SUPERMARKET Glace Fuel Station