This article focuses on a marine engineering company, which is a supplier of stabilisers and steering systems to the world's navies and commercial fleets.
The company had been the subject of a review, but in view of its sound performance and scope for development it became a core business in the technology division of their parent company. To develop the company and maximise results an ambitious 'Way Forward Programme' was launched. A month later the financial director left at short notice.
The role of FD was crucial to the change programme and a replacement was urgently required. The company decided to take their time to recruit and in the meantime employ the services of an interim manager. An acting finance director was placed in the company.
His primary objectives were to develop a new costing structure to provide relevant information for decision making on strategy, bidding for and sourcing new equipment, making recommendations to achieve labour cost-savings and identifying key performance indicators.
He was well suited to the role with his extensive financial management experience in manufacturing industries. He spent a period of five months at the company and comments: "I achieved all the objectives and was able to offer a fresh pair of eyes providing independent advice for the real improvement of the business."
The managing director of the company says that his company gained significant benefits from his services. He believes that hiring an interim manager can provide a unique solution to a business dilemma.
Read the original article about strategic change management