Whether entrepreneur, managing partner, top manager or project manager – all of them have something in common: They strive for success under adverse conditions. All aspects of the business – from business model to marketing, IT and accounting – need to be considered in order to ensure the company’s success. Mistakes in the areas, especially, can cause problems to snowball and in the worst case, lead to failure.
In 46% of cases, mistakes that lead to failure are caused by management.
That is quite a high percentage, which encouraged us to examine the reasons more closely and develop appropriate measures.
Companies still in business 4 years after launch
Source: Statistic Brain, 1.1.2014
As shown in the graph above, most of the startups fail, but we also have been seeing the same trend in new product launches and business model extensions of large companies. In the second decade of the 21st century, this is not acceptable. Every manager, regardless on what level, has their hands full with day-to-day business but, additionally, they have to estimate and predict future trends and developments. So, besides the day-to-day business they have to develop and deepen their professional and methodological skills continuously and separate relevant from irrelevant developments. At a time when humanity doubles its knowledge every 2-3 years, this presents a real Herculean task.
Our main task is to deal with the latest trends and analyses on a daily basis. Permanent learning and making new methods and technologies accessible to companies is our passion. We make this expertise available to you in the form of Advisory Boards.
- Access to up-to-date information and know-how
- Access to knowledge that has already been tested and proved in projects
- Independent external perspective and opinion
- No permanent expenses, only when the need arises
- Easily extendible through access to further new know-how
Advisory Board: Your success is our goal
Strategy Advisory Board
The development of a clear strategy is one of top management’s most important tasks. The ever increasing turbulence of markets, however, may demand adjustments to this strategy even at unplanned intervals. Thus, speed and agility is one of the main competitive advantages nowadays. This is even harder to ensure due to the rapid technological progress, which shows how important it is to permanently keep an eye on the latest trends and future developments. Furthermore, skills have to be developed to allow for a proper assessment of market figures, a deep understanding of customers as well as a highest possible customer value. Customer-oriented management of all divisions is the key factor for success and sustainability.
Financial Advisory Board
Finance has to face new challenges as well. From investment bankers’ point of view, companies are one of the most lucrative investments today because there is a high potential for an exponential increase in return of investment. We live in an age of non-linear development, which forces finance departments to act accordingly. On one hand, shareholders need to be satisfied and on the other business demands need to be fulfilled. Surely, the biggest challenge is to decide which of the several hundred measures per year bear significant potential. The prioritization of the measures is based on the strategy, as well as on the evaluation of individual measures, as they are proposed. Usually, the projects are evaluated in terms of their relevance for the business, followed by a financial analysis by a team from the administrative department. This team is independent of other departments and is able to accomplish an objective evaluation. That implies a very high financial agility. But this agility requires further control and reporting mechanisms.
A Financial Advisory Board has the necessary know-how and the experience to address such topics.
Operations Management Advisory Board
In general, Operations is that area of a company that has a direct impact on customers and can be directly perceived by the customers. Therefore, these divisions need to be able to adapt most quickly to changed customers’ desires and expectations. For a modern company, this is the area in which the majority of its staff is employed. Furthermore, as may be expected in the age of outsourcing, it is also the area where a company relies heavily on partners and suppliers. This requires a considerable effort in organization, coordination and harmonization in these areas. Skills in Vendor Management and recruitment are in this context just as important as knowledge of the modern organizational forms.
The Operations Advisory Board helps, among others, to identify new suitable control and monitoring instruments, to adjust the production to new situations and to find new ways to fulfill customer needs in a cost efficient manner.
Information and Communication Technology Advisory Board
Many of the today´s business models are not realizable without the use of IT or internet. The rapid technological evolution and the resulting increase in productivity need to be implemented in the company. It can be a challenge to stay up to date on new trends and developments. Adaptability demands a lot of experience, especially if a legacy architecture needs to be transformed; particularly because many of its components are now offered as a service. Security is another area that requires significant consideration. These, of course, are only a fraction of the issues organizations are facing today.
An ICT Advisory Board helps to evaluate all these external challenges and opportunities, supports to achieve an alignment and allows a neutral view on IT requirements, technologies and possibilities.