Of the world’s 500 largest family businesses, 32 (7,6%) are located in Latin America according to the 2016 Global Family Business Index.
Over 70% of these businesses are publicly listed companies with average 78 years old.
On the other hand, Latin America and the Caribbean Region (LACAR) are home to upwards 57 million small-and-medium-sized enterprises (SMEs) with fewer than 100 employees. These companies account for over half of the region´s net job creation.
Nevertheless, SME´s in LACAR are far less competitive than their counterparts in wealthier countries and have enormous untapped potential.
Russel achieved ZERO to $128 million in sales within six years. He started, ran, and owned 100% of this company and started seven other successful multi-million dollar companies as well. He claims, the secret to building great companies lies within the CEO’s leadership and being expert in sales and marketing. In his video, he shares the key factors of his outstanding entrepreneurial success in just 90 seconds.
Executive recruitment is an odd business. The industry serves some of the most exciting, innovative and technologically advanced companies in the world. And yet headhunters stubbornly refuse to adopt widely available technology that could significantly enhance their service.
There are numerous areas executive recruiters can improve upon, but none have quite the same potential to revolutionize the market as video conferencing.
The best businesses start with the client. How can they make their lives easier? How can they make a service quicker and more flexible? How do they make it more cost-effective?
Business was unprofitable, cash negative and losing customers. Management in conflict & demoralised.
Customers were very unhappy and were reducing orders and changing suppliers.
The manufacturing process consisted of extrusion and thermoforming, i.e. a linked batch operation.
Disorganised and dirty factory that had been put on notice by BRC to improve in 6 months. Poor delivery lead time, weak safety, bad maintenance.
Order lead time was very long and OTIF very Management had therefore decided to make trays to a forecast and this had exacerbated the problem further and driven up WIP and FG. WIP and FG stocks were in excess of 6 months.
Stock counts were uncontrolled and not carried out regularly at month end.
Although cash was very tight there was no effective cash forecast regime in place.
There was an inadequate sales plan in place which was subsumed by the need to constantly deal with customer crises related to late delivery and quality problems. There was excessive dependence on two customers.
Customers in UK, Ireland and Benelux.
Productivity = Profitability. Develop your team and plan. Engage, energise & empower your people.
Reduced headcount from 138 to 65, dismissed all directors and two managers and in the process eliminated two layers of management.
Developed management team & strategic plan & implemented Lean. Reviewed sales & production through value stream analysis & drove integration of these functions.
Changed ‘make to forecast’ to ‘make to order’. Reduced FG stock to 10 days & WIP to 5 days, eliminating a 3000 sqm store. Cut order delivery time to 24hrs on identified lines.
Set up shop floor data collection and installed IT that provided real time performance measurement on 2 extruders & 8 thermoformers. Measured Availability, Speed, Quality & OEE reviewed by shift. Implemented asset care system. Improved availability & developed planned maintenance.
Integrated the order entry and production planning processes, drastically improving service speed, flexibility, order turn around. OTIF 99%.
This process together with Kaizens energised the shop floor and forged strong (e.g. T/F tool change cut from 4 hrs to 2 hrs then 15-30 mins).
Reorganised management & segregation of rework and reduced bad waste to <0.1%.
Implemented safety improvement plan with monthly meetings. Guarding, ASIs, Risk assessments, changed material flow, implemented safe WIP roll handling. Removed FLTs from production aeras.
Reduced NPD lead times from months to 4 weeks through key alliance with tool maker.
Worked closely with sales team & key customers. Weekly reviews of existing customers and new business development.
Established detailed monthly financial reporting & 12 month rolling cash flow updated daily.
Reduced breakeven from £13m to £7m, brought company to profit in 12 months, reduced stock by 80% in 8 months. Improved OEE by 73% in 18 months.
Cash positive in 18 months.
Direct labour reduced from £2.4m to £1m pa, material cost decreased by 22% in 12 months.
Reduced low margin business, grew sales profitably to £9m in 2 years.
Written by Written by Mike Stewart, BSc Chem Eng, MBA
Strong practical experience at MD level. International experience includes being ‘parachuted in’ on a number of occasions to turn around troubled companies, as well as entering new markets and growing businesses.
Led 3 turnarounds in 7 years at £40 -£60 m pa businesses (330-500 people). All were complex multi site manufacturing businesses with very demanding JIT customer service requirements.
We all like our CXOs to be ‘dynamic’. It’s something of a cliché, but it’s going nowhere. Because this particular buzzword is rooted in real business.
Entrepreneurship is characterized by constant innovation and upheaval. For progress to be achieved, businesses and the individuals who lead them must live and breathe change. To be dynamic is, above all, to be flexible; to be responsive and resourceful and always ready to adapt when the situation requires.
All C-level executives know that rigidity and resistance to evolving customer demands are preludes to insolvency. Being flexible is about understanding what your customers want and bending over backwards to make sure they get it from you before the competition catches on.
If you can’t explain why customers should do business with you, how can you expect THEM to know
Listen and look closely at advertisements that promote that they are the BEST – HIGHEST RANKED – MOST AWARDED – at something and it always come with the key qualifier. Best “in class,” and most awarded “in their segment…”
THIS is the very key! Eliminate every opportunity to be measured on a level playing field with everyone else in your markets. Unless, of course, you are already the market leader with a substantial share…but I suspect, to achieve this, the market had to recognize uniqueness and a “bar” was raised with which to measure all others.
This paper will illustrate how important it is to ensure a very high level of security within all the upcoming Industrial IOT Wireless networks. It represents an absolute necessity that requires to be shared and understood at the highest executive levels of the Solution Providers and of all the Industrial Users.
These networks already are and will be more and more characterized by the need to implement bi-directional communications between devices without any human support or any access to any Server and/or Gateway/Data Concentrator Unit. This is setting up a huge difference in term of security architecture versus more traditional point-to-point or point-to-multipoint communications, alike the cellular communications that already are very well secured in case of sensitive transmissions or receptions, such as money transfers or cellular phone subscription management.
Business Case analysis has become mandatory for important decision making and planning in government, business, and non-profit organisations everywhere. As a result, most case-building responsibilities now belong to those who are not “finance” people.
Everyone talks about the business case but surprisingly few people really know what that means.
That was true in the early 1900s, when business case analysis was born along with a new, developing discipline called finance. In those days, most people thought that business case analysis was “finance.” They thought the job of building and using case results should be left to financial specialists.