Question Industrial Adhesives manufactures and markets commercial grade petroleum-based Adhesives, through wholesalers in most cases, but also directly to several large clients. It is currently number four in an industry of nine major players, with an ROI (Return on Investment) of 9%. The company's existing product line is solid, but it has introduced no new products to the market in the last six years. This has caused its expected revenue growth to decline and its position in the industry to slip. An appetite for cost cutting at Industrial Adhesives over the past few years prevented necessary equipment upgrades. Associated maintenance problems resulted in too much downtime also Recently, the Executive Leadership Team of Industrial Adhesives had a meeting to determine how to handle the current problems. Fred Farber, the CFO of the company, was the first to speak. "High product quality and customer satisfaction sets this company apart, but we have been going over-budget to support it, and even then, our customers seem increasingly less satisfied. We really need to focus on our processes if we want to achieve the outcomes we want." Questions 1. Outline Industrial Adhesive's business strategy