ABSTRACT
The business had been very successful so far and General Manager Demetris Zorbas was feeling very proud about it. Thirty-seven years after the establishment of the Zorbas enterprise, Demetris leaned back in his chair and reflected on the key turning points and practices that had been instrumental in transforming the small neighbourhood bakery into a large enterprise:
It was a time that we understood that we needed to expand further, to create better prospects for our business. The bakery business in Cyprus was becoming saturated and increasingly competitive. We needed to act fast to ensure that we would maintain and strengthen further our market position and our financial sustainability. This is when the developments at that time with the establishment of the Stock Exchange in Cyprus created for us the perfect opportunity. As soon as we became public we secured the resources that we needed to expand our enterprise and build the Zorbas business, as all people know it today … Among others, it was quite clear for all the decision-makers that any new endeavours would have to build on and expand our core bakery business and diversify with new business models.
