Situation
Our client was a communications organization undergoing severe financial pressures with a need to develop and implement a turnaround program. The organization was looking at developing a long term survival strategy. They also needed to refocus operations and strategic direction
Challenges
The main challenges we faced on this project included:
- Responding quickly to address short term cash flow issues
- Developing a viable long term strategic direction while staying true to the values of the organization
- Developing an effective and practical operational plan in the face of limited financial resources
Actions
To address these challenges, our consultants:
- Assess sources and uses of funds and develop short term cash management and debt repayment plan
- Conducted a qualitative and quantitative analysis of strategic and operational parameters
- Worked with the Board and senior management in developing a strategic plan
- Developed strategic and operational transformation projects
- Developed implementation plans with budgets and timelines
- Facilitated communications to staff on the new strategic direction and related operational plan
Results
At the conclusion of the project all the key success factors had been achieved, and the client was highly satisfied with the project deliverables and the value added by Schroeder & Schroeder Inc. Our actions resulted in:
- A successful financial turnaround
- A long term strategy for the survival of the organization
- Buy-in of staff and Board on the future strategic and operational direction of the organization
- Organizational transformation and change
- An implementation plan that was practical and feasible within the resource constraints of the organization