Irish owned second generation family business that had not reacted to the difficulties of rising costs of manufacturing in Ireland and had an unfocused approach to their business. Communication in the business was extremely low and each department was not working together.
Initial issues highlighted to Davis Business Consultants:
- Communication was extremely low in the company
- Gross profit margins were narrowing and losses were growing steadily each year
- Owner working in excess of 70 hours a week
Davis Business Consultants
- Developed a strategic plan for the business
- Managed the buyout of one of the family members
- Implemented a meeting structure and timely management reporting system
- Introduced weekly KPI (Key Performance Indicator) reporting
- Introduced budgets, targets, goals and objectives
- Implemented a new stock management system
- Introduced company wide policies, procedures and staff performance management system
Result
- New products and markets developed
- Higher staff morale
- Owner working on average 40 hours per week
- Turnover increased by 37% resulting in net profits for the business