After careful analysis, it was considered that a full structural and operational restructure had to be undertaken on the group. This involved aspects of the management & financial information systems, operational structures, hierarchies and chains of command.
The scope of any restructuring is the challenge the change brings, which is often met with considerable resistance. This was the case in this project. However, the owners of the company were confident in the process and supported the change. The restructuring impacted upon the workers on the factory floor, right through to the most senior of management. As the restructuring proceeded, tangible benefits began to show, which gave more momentum to the restructuring.
The restructuring continues to date and the group's turnover has increased significantly, more than tripling in three years with turnover exceeding $70 million, with profit exceeding world best practice. We still retain a strategic position as advisors to the company and are assisting the company to grow further, with a view to listing on the Australian Stock Exchange.
It was as a result of the restructuring that the company was able to achieve unprecedented growth and profitability. With good corporate governance and interstaff relations and satisfaction, the company now is a world leader in its field and continues its good growth prospects.