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Sustaining Profitable Growth

Delivering benefits to SMEsBrian Morgan

(Small Firms Research Unit)

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The Importance of SMEs

Indigenous firms or inward investors?

– FDI market is now very competitive

New firms are important for job creation – new industries, mostly in the service sector

But only 20% of start ups grow to 5 employees

– and only 2% grow to 50 employees

Therefore, the growth of existing firms is equally important

for generating new jobs

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Small Firms Survey:Identifying Growth Firms

Detailed research programme has identified the things that successful firms do better:

– utilise information technology

– focus on marketing

– export oriented

– keen to innovate

– well networked

– management and skills development

– sound financial controls

– willing to absorb equity finance

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Top 300 firms v the Rest

0

10

20

30

40

50

60

70

All Top 300

Marketing PlanTraining PlanE-Commerce

1 Does your firm possess a marketing or training plan ?2 Are you involved / becoming involved in e-commerce?

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Business Leadership

Successful business leaders create within the firm a capacity for:

– flexibility and responsiveness

– good performance management

– good marketing and branding …..

Hence SPG

– a strategic leadership development programme focused on change management

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Focus on managing change

managers are key agents of change in firms

good managers do “things better” but good leaders

do “better things”,

they focus on new ideas

Place greater emphasis on team working and

communication skills – hence the SPG leadership

programme

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Objectives of SPG

Enhanced People-Management Skills

– Coaching skills

– Motivation skills

– Team-building

– People centred management tools

• Facet 5 (360° psychometric profiling tool)

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Benefits

Coaching - each participant is allocated their own personal coach to reinforce the learning

(Corporates willing to pay £1000+ per day for this)

Provides Work-place support for implementing new ideas - including Facet 5

Access to Cardiff University’s extensive learning resources and the Cardiff MBA

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SPG Events15 month leadership journey

1 – Vision and Values 3 days

2 – Leadership 2 days

3 - Change 2 days

4 – Entrepreneurship 2 days

5 – Coaching 2 days

6 – Innovation 2 days

7 – Strategic Challenge 2 days

8 - Coaching Support 6 days

Cardiff MBA

Module 1

Module 2

Module 3

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Benefits

Improved Strategic Decision-Making

- Make more informed decisions

- Learn to ‘think outside the box’

Make decisions for the whole organisation, not just the operations side

- Manage change better

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Who will benefit from this project?

Companies/business leaders who are asking themselves :

Do we want to be around for the long term ?

What does success in the long term look like?

How do we achieve this?

Can we afford to ignore these questions & continue to survive/thrive?

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A framework for sustainable success

Who is and who will be importantto the achievement of the purpose?

StrategyStrategy

VisionVision

ValuesValuesSuccessdefinition

Successdefinition

Performancemanagement

Performancemanagement

ActionsActions

PurposePurpose

Key relationships

Key relationships

What should we do now and howcan we continuously improve on it?

What should we evaluate, report and reward?

What does success look like for us and for our key relationships?

What are we tryingto achieve and why?

The route often taken

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Leadership development – reality not myth? Leadership competencies can be gathered from

experience

Experience is the most powerful teacher we have,

usually it does not work effectively alone

Leadership development focuses on experience,

knowledge sharing, thinking, coaching and learning

This enables participants to act on their thinking in

the workplace, with access to support and feedback

through their coach

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Development through action

Business specific themes and inputs

Action Learning Set(facilitated)

Leadership Coaching

Action Learning Set

(Non-Facilitated)Workshop

(with key speakers)

Sponsored Personal andBusiness Development

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The journey

Final review

Business insights

7 Workshops

6 Individual coaching meetings

7 Action learning sets

The MAD Challenge

14 Master classes

October 2003

December 2004

Business models

Strategic project

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Investment Costs

Your Time

– Attend workshops and events over a 15 month period - usually one day per month

– Additional academic coursework for those interested in the MBA

– Approx. 80% of the cost is subsidised by ESF

– £2000 per firm, spread over 2 or 3 tax years