Turnover
£28M
Company
Building and Renovation
The Challenge/ Problem
Business was flat with cash issues and a poor morale throughout the Management Team
The Action Taken
We embarked on a full analysis of the state of play within the business. We found a number of things to be prevalent:
- Ineffective leadership of the Board by Chairman
- An MD who had ‘lost’ the Board and confidence of the team
- Chairman reluctant to act (personal relationship of many years
- No business strategy for turning the business
As a result of these findings we acted in an Interim capacity as MD within the business. We ran Board Meetings and generated more of a team approach and clear accountability and responsibility. We resolved the MD problem with sensible discussions and he left amicably. We got the Board working as a team and at the end of our assignment assisted the company in recruiting a new MD. We tackled the cash issues head on with a receivables collection plan – ‘owned’ by the FD
The Outcome
The cash position improved dramatically – £500,000 in past due collected. All Directors focused on their job – business stabilised and stronger – winning of new customers began.
The Client’s Comments
‘The Board and Senior Management who have worked alongside Tinderbox all agree that we have brought into the business an expertise that previously did not exist. This has not appeared in a dictatorial way but through focus, mentoring and challenge. Through this approach individuals have confidence to move forward in their own roles. All feel that the systems for control that are developing will benefit the business greatly in a very short period of time and therefore there is developing a commitment to do things in an agreed manner that didn’t exist previously’.
G.S. FD
