Mid-Sized Privately Owned, Canadian Business

A Client Success Story

Mid-Sized Privately Owned, Canadian Business

Organization Type Mid-Sized Privately Owned, Canadian Business
 Details
  • Family run business. 62 years in Canada
  • Fabrication and distribution business
  • Expansion into U.S.A. 8 years ago. Expansion into European market 6 years ago
  • 7,650 employees, 2 key manufacturing sites, 6 offices in Canadian, U.S.A. and European locations. Serves clients in over 22 countries; $278 Million annual revenues
  • Healthy / positive cash flow / financial reserves
The Problem
  • Recent shakeup of family participation
  • Desire to professionalize the business
  • Desire to restructure owner involvement and potential acquisition of professional CEO from outside the “family”
  • Global cost pressures requiring some workforce reduction
  • Increased global threat to market share / business due to emerging technology innovations
  • Poor line of sight and insight into global, strategic and operational risks / threats
  • Concern regarding shift in key supplier relationships / supply
  • Need to determine best investment into business
  • Desire to minimize strategic, market and customer risk
  • No corporate strategy, balanced scorecard and business performance reporting
What We Delivered
  • Undertook a comprehensive enterprise risk management audit identifying key strategic and operational risks including likelihood of occurrence and degree of impact
  • Developed enterprise risk framework and business process for management implementation
  • Developed Top 20 enterprise risk mitigation plans for management adoption
  • Developed implementation change plan and educated senior managements regarding framework, process and their accountability for a more formalized risk management plan
  • Coached and guided management during initial implementation. Transferred skills sets and tools over to management team
  • Conducted 6 and 12 month check-ins and providing on-demand support
The Result
  • Adoption of formalized enterprise risk management framework, process, tools and accountability.
  • Reduction in 55% strategic risks and 93% operational risks within 18 months.
  • Greater Board of Director and shareholder confidence.
  • Increased management accountability for enterprise and business risk.
2018-01-14T17:19:36+00:00