Strategic planning to increase profits by 70% within 12 months. A case study.
An SME in the sector was struggling to achieve budgeted sales and profits due to a lack of buy-in by management team members to previously set targets.
In the past, there had been insufficient transparency around the process for setting targets and assigning accountability for meeting business objectives. This seriously impacted business performance against these targets every year. The CEO wanted to have more certainty around the business plan for the next year by creating transparency over the process of target setting, and to unambiguously align responsibilities of each individual member of the management team to the delivery of the strategic plan.
How we helped address the challenge:
Cora Lynn Heimer Rathbone facilitated a series of management team business strategy sessions that involved the MD with his direct reports and documented what was agreed in the room. From these sessions emerged a strategic plan and associated action plans to increase profits over the next 12 months and beyond.
These sessions allowed the management team to properly challenge and debate growth targets and then agree the process for delivering each of 10 critical actions. They also developed and agreed the individual and concrete action plans with buy-in from each team member.
The plan and action plans are now systematically reviewed with the support of Rathbone Results as part of the monthly reviews. After 6 months of the new financial year the business is on track to achieve 70% growth in profits.
“I believe this is all now heading in the right direction Thank you Rathbone Results….”
CEO and Owner, Technology Business
Are you looking to develop your strategy and significantly increase your profits? We can help. Get in touch for a no obligation chat or give us a call on 0208 798 0175.