Developing strategic plans for future growth
The company is a manufacturing operation supplying customers with cable assemblies, connectors and associated air cabinets. Customers include: BBC, Network Rail, Virgin Media and GCHQ. A co-located, and separately owned, business provides related cable installation services. Growing Sales and a very high utilisation of the factory facility is achieved with an existing staff of 20 including the MD, management and office functions. The company has no debt and the MD aims to grow the business.
GEM Cable Solutions Ltd
Key Achievements
The strategic action plan developed during this activity has already been put into action and has set the company on track to achieve:
- 33% Revenue increase
- 20% Net profit
The business was in a stable financial position with an MD who wished to step up the future revenue and margin performance and to put business planning onto a more formal basis. A Strategic Planning workshop was facilitated by the IAG S Advisors with the MD and 3 other key staff from GEM Cables.
The output of the workshop was converted into a Business Strategy document and delivered to the company to use as part of a regular strategic planning process. Immediately the company has began to use the planning as a guide to future improvement actions.
The IAGS Advisor provided a way of helping the company to create a strategic plan with concrete actions to assist in the MD’s aim: “To achieve a turnover of £1 million and a net profit of £200k after dividends and bonuses (20% profit margin) by July 2011.” The plan developed at the Strategy Workshop has already been put into action and has set the company on track to achieve its stated turnover, profit and efficiency improvements.
Steve Jack
Managing Director
