Under-Performing Companies--Renaissance consultants

Under-Performing Companies

Using the Recognizing Early Warning Signs of Trouble Checklist and The Assessment Checklist, Renaissance consultants are able to assist under-performing companies and turnarounds to recognize, define and correct their operations. The following is a case history illustrating Renaissance consultants' success assisting under-performing companies.

Type of Company:	High density circuit board manufacturer
Type of Ownership:	Public: Wholly Owned Subsidiary of NASDAQ Company
Position:	President and CEO

Problem:	A U.S. electronics company with a licensed, patented product had successfully executed the operational start-up phase but was floundering with low sales and a projected loss.
Action:	Assumed full responsibility on an interim management basis as President and CEO. Analyzed the company's internal capital and human resource needs and restructured top management. Prepared a five-year business and operating plan. Secured a $4 million debt financing package with a major bank. Repositioned company's marketing so as to focus on quality rather than price. Restructured the marketing and sales force, and recruited a national sales manager. Reorganized manufacturing and recruited a director of quality assurance.
Results:	Sales grew significantly; a loss became a pre-tax profit of 10%. The company moved to larger quarters and was positioned to maintain a projected 30% annual sales growth for the following five years. A new president was identified from within, trained and installed.