The current global economic gloom and the threat of the "R" word in Australia are taxing the younger and inexperienced business owners and managers with challenges never seen before.
Remaining positive and proactive in these trying circumstances is what will be driving Jeff Hort Engineering in to the foreseeable future. Companies that are "cashed up" will be seeking new acquisitions as companies struggle to remain afloat, but, to the contrary with our organisation our job is to perfect what we have and to do everything within our power to protect those that have made us what we are today.
On April the 17th our management team, including our Wollongong and West Wyalong branches, met with the company's Board of Directors (Hort Family members) for a two-day strategic planning meeting facilitated by our Business Action Coach.
The aim of this exercise was to ensure that there would be a unified team thrust into the future by setting guidelines as to how best improve our market position and financial status of the business to be reflected in our 1-5 year business plan.
The two days invested in this strategic planning workshop were very successful, with the forthcoming notions, plans and strategic ideas already being integrated in our future business plan. The final outcome of all this planning is to develop an air of ownership and cohesiveness of the business plan by the Board of directors, the Management Team and the staff of Jeff Hort Engineering.
Some of the highlights from the conference were:
- Review the organisational structure and the personnel to maximize the company's strengths and minimize any weaknesses;
- Reinforce roles and accountabilities at all levels of the organisation to meet the needs of the business plan;
- Improve work scheduling and delivery through the workshops;
- Review all the company’s fixed and variable costs with the aim of reducing these costs;
- Reduce the company’s overheads by developing engineering into a revenue generating, cost neutral department;
- Enhance our ability to service our customers by meeting deadlines and improving feedback;
- Ensure that the company is operating profitably by measuring and testing every process step.
A gem cannot be polished without friction, nor man or business perfected without challenges. Our challenges are great but the reward for getting our business right is that we will go forward and set the benchmark for others to follow.