Paper 1 Timeline

Main

Royal Danish Bearings company created

1915

Created in Denmark, a Danish machinist named Henrik Holstein

Market position determined

1930

Market position was determined by the high quality and high price of its ball bearings.

Valdemar was born

1930

Japanese companies' competition

1945

RDB began to face competition from Japanese companies but because of their well established reputation they maintained their market share.

Valdemar Holstein started working at the company

1951

Valdemar Holstein replaced Henrik (his father)

1965

Shift to Just-In-Time Production

1970

As Japan's economy developed, wages rose substantially. To remain competitive, Japanese companies moved to just-in-time production. Because of the method, their flexibility became their unique selling point which made it competitive with RDB.

Anna was born

1975

Anna becomes CEO

2005

Anna, Valdemar's daughter replaced him as CEO. She began to implement green approaches to RDB manufacturing. RDB should focus on corporate social responsibility and examine its impact on the environment and its customers' carbon footprint. Vision is to make RDB one of the world's most technologically advanced energy efficient ball bearings and to downsize the big factory in Denmark. RDB's production would be offshored to twelve small factories. Marketing would play a major role in the new RDB. Wrote all the details and ideas in her strategic plan called "RDB 2020."

Valdemar creates Alternative Plan

2006

Valdemar was stunned when Anna proposed this plan because RDB was a Danish company and felt the need to provide jobs to Danish people. He asked her for time to come up with an alternative proposal that would incorportate some her ideas. He came up with rebranding the company and changing from RDB to "Green Bearings, an RDB company" and adopt Anna's marketing stadegy. It would remain in Northern Europe but divide each of the three mega factories to serve a region of the world. It would form stategic alliances with ball bearing companies in Brazil, China and India.

Sudden collapse of Icelandic banks

2008

RDB had their funds in the Icelandic banks, but RDB managed to recover most its funds.