The Executive Team NOT Working Together
The Client
A BC based manufacturer with $15,000,000 in revenues.
The Problem
Experiencing operating losses. Improvement strategies weren't working. Executive team could not agree on what actions to take.
The Major Risk
If operating losses continued, they will lose the support of the lenders. Obtaining new financing will be very difficult.
First Step, Critical Diagnosis
Profit360's proven methodologies were implemented, and the assessments discovered that;
- The functions of Marketing, Sales, Operations and Finance were all operating in separate silo's and not as a functional team with common objectives.
- Most essential elements for effective management systems were missing.
- The roles of each member of the Executive Team were not defined in a way that would achieve results.
Within the business there were many good strategies to improve profits, however the inability of the Executive Team to work together needed to be dealt with first.
Final Result, the Payoff
After Profit360's services the following results were achieved;
- The Executive Team worked together on common objectives with an agreed upon action plan.
- Profit improvement strategies were working.
- Profits increased significantly in Year 1.
- Record profits were achieved and sustained.