European ingredients manufacturer returns to growth by addressing organisational issues
Review financial and
Our client, a leading supplier of natural antioxidants, had experienced impressive growth since its formation twenty-five years ago. Recently, however, performance had stalled. Revenues were flat and most senior managers were not working well together.
We were asked to conduct a comprehensive financial and organisational review.
Confidential interview programme and in-depth financial review
The CEO and founder agreed to give us open access to her organisation. This was a courageous decision but one taken in the knowledge that we would work with her team in a humble manner.
With the CEO’s endorsement, we conducted a thorough review, including:
- Confidential interviews with each senior manager and at least one subordinate
- Audits on the culture and degree of trust in the organisation
- Analysis of detailed financial information collated from around the business
- Interviews with a selection of customers and suppliers
Return to growth through better collaboration and management information
The results of our work were extremely revealing but also sensitive. We decided to present to the CEO first, in a private meeting, whilst maintaining the confidentiality of all interviewees. We then presented to the rest of the management team, encouraging them to both probe our analysis and offer solutions. It was an emotive session but it did bring the issues out into the open.
The financial analysis highlighted both inconsistent pricing and a lack of management information. The two issues were clearly connected and have since been addressed.
The external interviews demonstrated tremendous respect for the company, but the internal interviews exposed several specific issues within the management team. We recommended a series of internal initiatives, which were broadly adopted.
The company is now back in growth. The next step is to formalise the strategy.