Avoiding "Group Think" in Established Companies

As businesses become established they tend to:

  • Become more complex internally
  • Have more options open to them
  • Experience more effective competition
  • Need to reconcile a greater diversity of opinions around the boardroom table, or become susceptible to “group think”
  • Find the difference between good and average decision making has a greater effect on shareholder value

Difficult decisions may be needed around the launch of a new product or service, the acquisition of another business, the tender for a major contract and similar bounded issues.

Of perhaps greater importance is the development, implementation and regular review of a robust vision of the direction the business should take. What is the optimal size, what level of risk are we happy with, which markets to move in or out of, what should the mix of products be, how should we be funded, how do we protect and enhance shareholder value.

“If everyone is thinking alike, then somebody isn't thinking" General Patton

Most management teams in established businesses will do a good job of planning their future and implementing that plan. We believe they can and should do better than that:

  • Which marketing, sales, operations, people or financial plan would not benefit from external review, assessment and, where appropriate, challenge?
  • Which established management team would not benefit from access to a broader range of skills, experience and knowledge?
  • Managing Directors should ensure that their planning processes develop to meet the needs of their businesses.

Experienced external advisors can bring structure to your planning process and benefits well beyond their cost.

If you think we can help, contact Mike Robson on 0207 100 1233 or mike.robson@azurepartners.co.uk