Corporate Renewal – Why this is Vital to Businesses Globally
Turnaround and Corporate Renewal
Based in Chicago, the Fennimore Group is a highly innovative company helping businesses accelerate activity adopting change, organising work processes, aligning organisational infrastructure, and ensuring the completion of all work stream functionality. We spoke with the firm’s John M. Coates, President and Chief Executive Officer, to ascertain more about their unique approach towards corporate renewal.
When it comes to turnaround and corporate renewal, our firm uses our flagship method called Perfecting People and Process®™. This uniquely structured approach enables troubled businesses to realign and return to profitability. It begins by identifying the reasons for failing performance, placing these in ranked priority touching overall business impact, and rectifying these conditions across the enterprise, not just within a single business functional group or department.
Furthermore, the firm’s proprietary process tools enable the Fennimore Group to factually and accurately determine why a business is underperforming or failing. With an assessment in-hand, recovery and restructuring plans are developed for immediate deployment. Once approved, the Fennimore Group staff member joins our client staff during implementation, performing simple to complex tasks, providing continual review sustaining progress and adapting to changes attributable to external market conditions.
The demand for high growth and margins creates continuous pressure on businesses to self-examine and evaluate performance. Using a firm like the Fennimore Group provides businesses with a critical external unbiased examination of their performance and processes against ‘world-class’ definitions of those requirements.
Although firms are increasingly realising the importance of corporate renewal, it is an area where we have seen continued success for over a decade. For more than 15 years, Fennimore Group’s work in corporate renewal continues to demonstrate why this is vital to businesses globally.
It is also true for a number of factors, where our engagements are completed 40 to 60% faster than most other firms focused in this area. Behind this impressive statistic is the work done by our staff every day. Indeed, Fennimore Group staff members have years of on-site operating experience within our client’s industry and are knowledgeable in all aspects of the operating landscape, thus providing our client with deployable-ready expertise Starting with our foundational building blocks utilised in developing a business or strategic plan, ultimately the Fennimore Group owes its success to the many attributes of our staff. Our firm’s professionals are all exceptional, well respected leaders. Each brings to an assignment more than twenty years of cross-functional comprehensive experience within manufacturing, purchasing, planning, finance, retail, customs compliance, global material flow, and with a unique hands-on approach.
With advanced degrees, an intricate knowledge of business trends and current as well as the emerging technologies, and with our significant hands-on experience, our clients quickly develop comfort knowing there is no supplemental oversight required of our staff.
Whether it is stronger competition, better services, or improved products, success happens when challenges are greeted with a comprehensive, adaptable plan managed by flexible responsiveness, in particular when one considers today’s highly digital disruptive behavioural landscape.
With the primary focus for the Fennimore Group within the S&P 500, we atypically define market by the number of ‘buyers and sellers’ within an industry vertical, allowing the population to dictate growth potential relative to new products or services that are so critical to a business’ success. It is a unique approach, providing the Fennimore Group enhanced flexibility to adapt to any series of client needs and demands.
Looking towards the final third of 2016 and beyond, we see a number of challenges and opportunities. Business continuity is the current challenge for most global businesses. While most embrace change on a more frequent basis as they find themselves in a shrinking, and recently more politically tense global arena, what remains clear is the forces driving change and their solutions no longer necessarily follow or are tied to a scripted and predictable pattern. We remain confident that our wealth of experience will allow us to continue to enable our clients’ success thereby build upon our undoubted success.
Company: The Fennimore Group