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Given the current strength
of Sterling, the still creeping effects of the Asian and Russian
economic crises and the largely unpredictable effects this may have on
the British and European economies, it seems that a turbulent patch in
business confidence is only just down the road.
Management in both the larger PLC's and the SME's largely recognize
this, but there is much hesitation in preparing and planning to
minimize the risks and to be in good condition for benefiting when the
turbulence has passed. In consequence, recovery and seizing the
opportunities of an upturn in the economy are often missed. At
worst, such failures can be fatal.
This is where companies can profit from the use of an interim
manager.
What, then, are the main areas that management needs to critically
examine?
Surely they are:
- The business plan
- Cost efficiency or reduction [not the same
thing!]
- Production Planning; materials sourcing
and sub-contracted manufacturing or assembly
- Labour relations; improved individual
efficiency
- Budgets, internal control, treasury
management and reduction of financial risk
- Customer relations/satisfaction
- New markets for existing products
- Rapid reaction to market forces.
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Since the last recession, most companies have become much leaner and
core management copes when trading is favourable. However, the
operational review required to prepare for the approaching period of
uncertainty - if it is not to side-track management from it's day to day
priorities - points to the need for additional temporary management
strength, be it in the field of finance, production, marketing and sales
or general management.
With an interim manager on board, the larger PLC's can avoid the
commitment to a long term recruitment. The SME can benefit from
part time add-on management [say two to four days each week] for short
short spells of two to three months without opening up for a long term
new budget.
The interim manager, usually a multi-sector person, can facilitate
beneficial change. They bring their extensive experience in either
the same sector, very often, with the added dimension of experience in
other industries. Sensibly overqualified for the assignment - an
advantage sometimes only appreciated in retrospect - their wide
experience ensures that the return on investment in their time is always
justified.
Maybe an operational review of your foreign subsidiaries or a joint
venture operation is merited. Global Executives can offer a
substantial number of truly bilingual interim managers to cover all
disciplines.
Beware - or remember! - the year end sad surprise of a subsidiary
which has often tarnished a group's annual results not to mention the
red faces that come with the announcement to the city and the
shareholders.
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