As the reality of the coronavirus pandemic becomes clearer to each family, community and business, we all know there is going to be a recovery period where supply chains face unprecedented challenges as they seek the new normal. For many, survival after the pandemic presents a daily battle against the unknown– but it doesn’t have to be that way. Regardless of your industry, we can help you survive in a post COVID-19.
When a business struggles with its performance – and often its survival is on the line -- the first step is a turnaround plan. When the pressure is on, that plan needs the insights and experience of consultants who have been there before. What I encourage CCO’s manufacturing clients to ask themselves is: will my consultants give me a great plan, or will they do that AND work elbow-to-elbow with us to fully accomplish the mission – a rapid return to peak performance and profitability?
The concept of time as the most valuable resource isn’t new and struggling businesses should NOT waste another minute of time settling for “advice with no action” from their consultants. I hear from my clients and other business leaders is that it’s time to disrupt and re-define what an effective consulting engagement looks like.
One of our clients, a high-end car dealership, was about to embark on a five-site consolidation into one new facility. Seeking to avoid transferring known inefficiencies from the existing sites, the client engaged us at Cornerstone Consulting Organization (CCO) for assistance.
Site Selection Magazine, a national publication covering corporate real estate and economic development, recently featured Cornerstone Consulting Organization in its latest issue. In their article, “Eyes Wide Open,” the magazine discussed how Cornerstone can support local economic development agencies in their efforts to attract, expand and retain businesses. Click here to read the story.
The Value of Due Diligence & Accelerated Integration
The Cornerstone Way is rooted in accountability, discipline, and execution. We have the depth and breadth of experience and the tools necessary to rapidly deploy strike teams and quickly assess M&A targets in terms of performance, alignment, and probability of long-term success. An integral part of our standard due diligence report is an assessment of expected synergies, including the complexity or investment involved in achieving them, their probability of success, and the value they would deliver. This is fundamental to the overall valuation of a transaction. We have delivered significant business value in many segments, including aftermarket distribution, high-touch retail, class 8 truck, consumer goods, government and defense, food/FDA, Tier 1 and 2, and automotive OEM.
Buying or selling a business can be scary. The key to success in buying another company is knowing the value that company will bring to your existing portfolio and paying a price to maximize that value. This is not a simple task, by any means. There are many factors to consider when determining the price you should pay for an acquisition; be sure to cover all the bases and conduct a thorough valuation of the company you’re considering before making an offer.
When you reach out to a consulting firm, chances are you know you need help. You’ll probably have a lot of questions, including how much the service will cost and what exactly you’d be paying for. So, how do you decide which firm will do the best job for you without breaking the bank?
“No man is an island.” English poet John Donne addressed the basic human need to be a part of a community to thrive. Even before the Industrial Revolution, people recognized that everybody has a role to play and that collaboration is key to a functional society. This established interdependence extends to many aspects of our lives, primarily in the workplace, where three types of interdependence have emerged.
Italian philosopher and economist, Vilfredo Federico Damaso Pareto, developed what has become known as the 80/20 principle, or the Pareto principle. After observing that 20% of the pea plants in his garden produced 80% of the healthy pods, Pareto turned his attention to wealth distribution and found that just 20% of the population owned 80% of Italy’s land. After gathering data from various fields, he arrived at the general principle that 20% of action drives 80% of results. This pattern can be observed not only in economics and gardening but also in business and even personal habits.