Do you need your business to be turned around?
Download as PPT, PDF1 like413 views
Turn around projects involve taking an underperforming business and making it viable again through introducing urgency, adding value, and delivering results. Management Advisory Consulting takes interim roles in businesses and works with investors, creditors, and boards to diagnose issues, develop business strategies and plans, raise cash, improve processes, and coach the business over 9-18 months until it is stabilized. The turn around process involves diagnostic analysis, project planning, gaining buy-in, raising and monitoring cash flow, improving business techniques, and ongoing monitoring of progress.
Do you need your business to be turned around?
- 1. Management of Turn Around Projects
- 2. What is Turn Around? Turn Around is about: Taking a declining or underperforming business Keeping it Alive by introducing sense of urgency Making it Viable by adding value Turn around is not: Just about finance Just about advising It’s about delivering
- 3. We take interim roles inside a business : from Strategic Marketing, Supply Chain management ,..., to CEO Our fees are included in the plan & are mainly based on performance Our remuneration is very flexible, using milestones, performance bonuses, and potentially, equity stakes as part of a package Relationships and Trust are Key We have strong experience of building relationships with, Investors, Financial institutions, and Banks to find cash immediately We work with Creditors to get their support and build the longer term As we are not emotionally involved we can see issues clearly, build and implement practical action plans, make tough decisions We have strong experience working with Board Members / Funders We only succeed if the business succeed How do we do it?
- 4. Turn Around Process Diagnostic Project Planning Setting Business Strategy Gaining Buy In Communicating Analysis Setting Sales Goals and Cost Cutting Plans Raising and Monitoring Cash Looking After Staff Monitoring Process/Progress Improving Business Techniques Coaching all the Way Through On going 9 to 18 Months 1 to 4 Months
- 5. Diagnostic Output Full report on the current situation and recommendations: Overview of Business external environment Analysis of main products / services offering, and profitability Growth expectations Market penetration and marketing strategies effectiveness Analysis of the fixed costs structure Review of the most critical issues the business is facing and strategies to overcome those issues Understanding the business culture Benchmark of the business in 11 critical Business areas : Service, Sales, Marketing, Team work, Strategic thinking, Cash Flow, Productivity, Profitability, Work vs. Personal Life Balance, Leadership, Manufacturing. Recommendations on how to improve processes, profitability, and cash flow
- 6. Project planning Define/Identify: Who is the sponsor of the project at board level The core team: kept to a manageable size, and allocated clear responsibility to avoid duplication Skills gap and how this will be overcome Reporting procedures Organisation model changes required Who will make the project a success or break it A communication plan An implementation time line with milestones and success factors
- 8. Business Strategy MA Consulting VTR & Planning Process P lan D o C heck A ct P lan D o C heck A ct Identify the Organization‘s Current Situation Develop & Analyze the Vision Deployment of the Plan Identify High-Level Strategies Identify Breakthrough Objective (s) Improve Plan & Create Next Years Plan Corrective Action Alignment With Other Projects Annual Review Review the Plan Implement the Plan VTR What do we need to do? How should we do it? How are we doing?
- 9. Gain Buy In & Communicate Build shareholder value Get approval from the board Explain the issues to senior managers for understanding System customisation Evaluation of new work load for line managers Communicate Benefits to Managers, Employees, Legislative bodies (work councils, equal opportunities...)
- 10. Analysis & Goal setting Detailed Analysis of: Industry Structure – Industry Forces (External) Existing Customers’ turn over & growth potential Products / services’ profitability & growth potential Fixed costs Goal settings: By department and by owner Definition of: Objectives Measures Targets Initiatives Resources required
- 11. Raising & Monitoring Cash Internal Focus Prepare a business plan and a short and honest description of the business situation Present business situation & plans to funders & get their buy in Establish strong relationships with funders & seek for their support Prepare for each business units short , medium, and long term cash forecasts Squeeze working capital External Focus Present business situation & plans to Banks & seek for their support Present business situation & plans to Creditors & seek for their support Look for potential new investors Spin off loss makers businesses Sell unused or unusable assets
- 12. Looking After Staff W e create a culture, in which employees are valued, challenged, focus their attention and efforts towards learning, explore their potential, fulfil their ambitions, achieve success and are adequately rewarded ALWAYS ACT ON HIGH PRINCIPLE INDIVIDUAL DIGNITY ENTITLEMENT Real Jobs Performance Criteria Training Career Plan Feedback Bias Free IMPLEMENTATION SUPREMACY Constant Respect For People Uncompromising Integrity Key Goals What They Must Accomplish Key Initiatives How They Will Do It RENEWAL People Enhancement Boldness Counter Intuitive Thinking Creativity Create Customers Overwhelm Competition Legacy
- 13. Monitoring Process & Progress Performance Leadership programme Performance Leadership reinforces the belief that We should measure results AND behaviours / skills If WHO People Are is important If WHAT People Achieve is important If HOW People Achieve is important Measure personality traits ( does not predict success) Measure results (Bonus schemes, RONA, individual and team goals) Measure behaviours and skills (Individual profile behaviours) Performance = WHAT + HOW
- 14. Improving Business techniques Performance planning Mutual understanding about: Team/ individual business goals Expected individual behaviours Assistance and resources needed Job match/ action plans/ possible reassignments Sources of performance input Progress Check points Discussion of: Progress on individual / team business goals Actual behaviour compared to expectations Assistance and resources needed Job match/ action plans / possible reassignments Performance Summary Discussion of: Performance on individual / team business goals Actual behaviour compared to expectations Job match/ action plans / possible reassignments Future skills needed for current job Input to Training Staffing Compensation Career Planning Process overview
- 15. Improving Business techniques MA and Board: Define Lean 6 Sigma strategy, Select 1st project, Define team selection criterion 1 2 3 4 MA Consulting provide Continuous Coaching and Support University of Newport provide Students for Data Collection 5 6 Workshop 1 Understanding the Problem Workshop 2 The process of Eliminating Waste Workshop 3 Empowering and Leadership Workshop 4 The Challenge of Standardization Workshop 5 The Continuous Improvement Workshop 6 The Golden Threads of the Journey Newport University & MA Specialist Pool provide a) Knowledge, experience, tools, models and assistance as required facilitating workshops b) Practical support/advice to meet particular individual and/or organizational needs Lean 6 Sigma Journey