When it comes to the economic crisis, it’s fair to say that businesses have been experiencing some upheaval. And while it hasn’t appeared to have impacted Cayman all that much, it’s making at least some companies out there pay more attention to efficiency, by streamlining and thinking about what’s next.
Strategic Results is a new business hoping to assist with those troublesome head scratchers, guided by the expertise of John Harvey, the former CEO of the Mike’s group of companies.
‘We are here to address the immediate needs of businesses and organizations operating in the Cayman Islands, in today’s challenging economic climate,’ said Mr. Harvey.
With a wealth of experience in the business world, Mr. Harvey has worked as Chief Executive of over fifteen companies and two major groups of companies. But he’s also got the key teaching credentials that can make this kind of venture a success, as just before Hurricane Ivan hit, Mr. Harvey started the University College of the Cayman Islands’ business school Management Degree programme.
Mr. Harvey is also no stranger to adversity. During and after Ivan, Mr. Harvey served as the RCIPS Gold and Silver commands’ Administrator and strategic advisor.
‘We are now in challenging times, and we recognize businesses don’t want to engage consultants unless there is an immediate payback,’ he said.
‘Even in normal times, engaging consultants to make changes in the company can seem like a job that’s too big and too expensive,’ he said.
‘Companies call in management consultants to improve the company, but the hugeness of the change that is expected to take place has a negative impact on productivity,’ he said.
He added that in many situations, change is more difficult to implement than doing the same thing as always, as it takes more energy.
‘And if you are too busy with running the company, it is impossible to implement.’
He noted that with fewer distractions in a lull in business like now, it is a good time to rethink business strategies since businesses have had the chance to take stock and retain their key personnel, and there is time to work on management issues.
But Mr. Harvey notes the main opportunity that comes out of repositioning is to ensure the company is in great shape when new business starts to come in.
He notes the potential of a business’ human resources can go up quantum levels, by finding ways to motivate people.
One way Strategic Results aims to do this is through its champion program, which aims to clarify the future of the business down the road.
‘Every organization will have one or two champions. Here in Cayman for example many are of a late age and so have to do succession planning,’ he said
‘But who is training and grooming these successors?’
Mr. Harvey’s team will come in once a week over a 3 month period, going over such issues as what is appropriate for the organization, and how its effectiveness can be improved.
‘You need management when competition gets tough, and as the world becomes more competitive management becomes imperative,’ he said.
He notes many business champions have the technical skills to keep their businesses going but lack the human and cognitive skills to ensure the business continues to run smoothly in their absence.
‘Champions don’t always know how to teach and train their successors, but if you are going to survive that has to happen,’ he said.
‘Our goal is to help executive to become more effective,’ he said.
‘Our role is not doing the job of the executive. It is to help them do their job and what needs to be done as well as possible.’
‘We are here to address the immediate needs of businesses and organizations operating in the Cayman Islands, in today’s challenging economic climate.’
John Harvey, former CEO of the Mike’s group of companies