A company X Ltd manufacturing coesmetics, which has enjoyed a pre-eminent position in business, has grown in size. Its business was very good till 1991. But after that, new liberalised environment has entry of many MNC's in the sector.
With the result, the market share of X Ltd has declined. The company had followed a very cnetralised business model with directors and divisional heads making even minor decisions. Before 1991, this business model had served the company very well as consumers has no choice. But now, the company is under pressure to reform.
How will the changes suggested by you help the firm? (Keep in mind that the sector in which the company is FMCG).

Explanation

Benefits that the company would derive from these changes are:
i) Developing initiatice among subordinates.
(ii) Development of managerial talent for future.
(iii) Quick decision-making.
(iv) Relief to the top management.
(v) Better control, since each department or individual can be held accountable for his/her results.