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The leadership of a U.S. Midwest-based, privately held, family-owned
$750M manufacturing company placed the company on an aggressive
growth strategy with the objective of being number three in
their industry. The client wanted help hiring experienced
executives to help them with their strategy.
Challenge: It Started as Needing the Right Talent
Upon analysis, the problem was--in addition to needing the
right talent--the organization, despite its size, was operating
with little to no processes. There was no budget; the cost
of goods and cost to manufacture were not clearly understood;
the organization did not have the ability to forecast and
manage its supply chain; there was no clear strategy going
forward, little or no accountability at all levels, and no
plans for three out of four years.
What We Did: A Complete Cultural Transformation
What began essentially as a search for talent, became a complete
cultural transformation focusing on four integrated components:
Talent, Training and Development, Performance Management,
and Strategy / Goal Setting. Our consulting work has given
the organization the ability to transform itself and exercise
capabilities that it did not possess previously. With the
addition of top talent, an aligned strategic focus, new processes,
and a newly created performance culture focused on specific
metrics and tactical business outcomes, the business is now
on a journey of growth. The wonderful part of this assignment
was that the family owners, through some difficult work, came
to acknowledge the problems, embraced the need to change,
and became advocates of the transformation.
Results: Strong Revenue Growth & Exceeding Goals
In the 5 years since the initial engagement, the company has
refinanced, divested itself of two major parts of its business,
grown to $1.3 B in annual revenue, grown sales 15% in a segment
down 12%, dramatically reduced cost of goods, weathered an
extremely costly commodity market, and is projected to make
4 times plan in its most recent calendar year.
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