Coerco is a manufacturer of polymer tanks and associated products for the agricultural and mining industries, as well as engineering applications.Background
Coerco is a second-generation, successful family business that services the agricultural and mining sectors. The business lacked a clear strategy after several years of soft growth. They needed clarity on the imperatives to deliver improved growth over the next three to four years, while considering a potential exit.
The Opportunity
Our client was looking to transform from a family-run business into an enterprise organisation with a clearly defined strategy to achieve a successful exit. The business required a review of strategy, operations, and leadership, as well as design and delivery of a sales and marketing plan to achieve business growth objectives.
The Process
Strategic Specialists Group led a Discovery Roadmap strategic planning process. Due to the business’s location in Western Australia, three hours north of Perth, three specialists conducted an intensive five-day strategic business review and planning process. Full-team workshops were held each morning, followed by strategy development sessions each afternoon and into the evening. The process focused on the overarching business strategy and structure, as well as two functional disciplines — marketing and sales.
Key issues defined for immediate attention included:
- Lack of clarity about the business strategy and future growth plan
- A confusing leadership structure with undefined accountabilities
- Lack of clarity around roles, responsibilities, and performance
- Poorly defined customer brand value and a marketing plan not driving business goals
The Outcome
Key results for the business included delivery of a Roadmap with five strategic imperatives to overcome barriers to growth. In addition, guidelines were designed for delivery of each imperative:
- Delivery timelines and accountabilities were defined
- Delivery outcomes were established for contribution to revenue or cost efficiency
- Resourcing requirements were defined for set-up and ongoing implementation
- A strategic review process was established to ensure continued alignment of tactics with strategy
The Roadmap provided a framework to address the five strategic imperatives for business growth by:
- Restructuring the senior leadership team and existing business divisions
- Restructuring the sales team into business development, internal sales, and external sales functions, providing role clarity across the organisation
- Defining a three-year strategy with financial objectives by quarter, by discipline, and against KPIs
- Defining the brand value proposition for customers
- Developing a three-year marketing and sales plan to achieve financial and growth objectives