Reasons Why Companies Hire Growth Management Strategies
- Desire to improve top and bottom line, but lack a plan or skills internally to develop one
- Growing businesses often reach a point where they need professional financial advice, but can't afford a full-time CFO or controller
- People are working harder than ever (working longer hours, knocking on more doors, doing more of the same), but the organization does not move forward
- Always in a panic, crisis management is a way of life, increased efforts do not lead to better results
- No consensus exists about the company’s problems and what needs to be done to correct them
- New variables are introduced from the marketplace – from shifting customer demands and industry trends to innovations in technology, changing demographics and globalization
- Increasing employees, customers and business systems requires more sophisticated methods of coordination and communication
- Antiquated systems no longer support business effectively
- Starting a new venture, product or service
- Expanding a current organization
- Buying a new business
- Turning around a declining business
- Increased pressure from banks or other lenders or cash crisis
- Lack of reliable data to make informed decisions
- Experienced a senior management vacancy
- New ownership
- Made a significant acquisition
- Experienced new or increased competition
- Have recently suffered a downturn in performance
