Business expansion is a critical component of the Partnership’s work.
The Partnership has redirected its focus on expansion opportunities for a wide range of businesses, in addition to remaining committed to small business development. As most job creation comes from expanding businesses, this area of focus is a natural given how competitive it is to attract large national corporations to our area. If the Partnership can help create 100 new jobs through the expansion of existing businesses, it is equivalent to recruiting 100 net new jobs. The effort to offer core analysis, financial procurement, technical assistance, and premium consulting services to existing businesses with the goal to examine their expansion capacity, holds much promise.
BUSINESS ASSESSMENT
Like an annual checkup, a business assessment seeks to uncover potential problems, issues, and areas of concern before they flare up into a major crisis that can derail the best laid out strategies and plans. A business assessment also helps to identify areas that are performing well and opportunities for future growth and profitability.
Areas covered include, but are not limited to, the following:
- Management
- Personnel
- Finance
- Operations
- Customers
- Competitors
- Market conditions
- Geographic territories
STRATEGIC MANAGEMENT
Strategy informs all functional areas of an enterprise. When properly implemented, strategy enhances performance when organizational structure, human resources policy, finance, marketing, and operations are aligned and driving toward shared goals. Problems arise when these areas are misaligned. The objective of strategic management consulting is to find areas of strategy misalignment and determine mechanisms for restoring optimal performance.
CORPORATE REVITALIZATION
When businesses run into trouble, having “fresh eyes” is often critical for determining the best path to revitalizing the firm and preserving value for all of its interested parties – customers, suppliers, creditors, shareholders, employees, and managers. The objective of corporate revitalization consulting is to work with all constituents of the firm to develop and implement actionable strategies for returning operations to profitability.