I believe the best ways to drive performance excellence are really about understanding what is best in class in each of the businesses in the verticals in which we are operating, so we benchmark those against the best available information. We then look at how the operations are performing and work with the management teams to help them implement their different programs have changed to achieve better performance.
The primary areas that we look at are all focused around driving growth:
• First, we look at how to maximize revenue or income from the different businesses
• Secondly, is really looking at and understanding efficiency of the operations
• The third area is really looking at the costs. It's very important to understand what the real cost base is, which costs are absolutely necessary and which are discretionary
• Finally, is really understanding in depth the balance sheet and the cash flows
When we pull all of those elements together, we have an overall growth model which then ties in with the people, the overall strategy and the overall process development, and how we look at augmenting the business.
I strongly believe that from an operational governance perspective, if you take care of the non-financial elements that will have just as much financial impact on your business than just focusing on the pure financial numbers.
Kevin Mark Raistrick
Chief Operating Officer